3. Finding The Right Home
Decide what you want to buy. Since you know how much house you can afford, you and your Realtor will be able to focus your search on homes in your price range.
4. Make an Offer and Negotiation
Once the buyer has found the perfect home, it is time to make an offer on the property. This is an area in which a real estate agent is invaluable. He or she will base the offer price off of comparable homes that have sold recently in the area. The agent will draft a contract that is agreeable to the buyer. The contract will include the price of the offer, as well as terms that the seller and the buyer will need to meet in order to achieve a successful transaction. The agent will ensure that the contract meets all of the necessary legal requirements
5. Open Escrow / Order Title
When your offer is accepted, deposit your check in escrow, your agent will open escrow and order title report and insurance. (An escrow account is set up to collect your payments for property taxes, homeowners insurance and possibly other items)