8 Steps to the Home Buying Process

Starting the home buying process can feel a bit daunting & overwhelming.

At the Munkberg Bianca Realty Group, it's our goal to ensure the process is seamless and each step is as easy and simple as possible.

To that end, we've broken down the home buying process into 8 easy steps for you to review below:

It's time to get to know one another! We will sit down and talk through the process of buying a home including the discussion of your dream home along with your ultimate wants and needs.

The beginning of the mortgage process entails getting pre-qualified. During this step, you will need to supply a bank or mortgage lender with a financial summary that includes documents showing income, debt, & assets. From there, they will provide you with an approximation of the mortgage you could qualify for.

Pre-approval is the next step in the process and once you get that, the lender will notify you of the specific amount you are approved for.

Once we have identified your home search criteria wants & needs, we will be able to set up automatic notifications about the newest listings that hit the open market which you will be the most excited about. If one or more of those jump out at you then be sure to let us know so we can move on to the next step and schedule viewings of those homes!

This is when the buying process starts to really become fun! We'll schedule viewings and go to open houses from the listing alerts you loved and favorited. We'll look for the perfect home for YOU!

This step is a tad bit scary, but also very exciting! Three things can happen when you submit an offer on a home:

1. The offer is accepted
2. The owner of the home can counteroffer
3. The offer is rejected

We will help you navigate each of these possibilities and how to handle them. Once an offer is accepted, it's time to get your financing in order and move on to the next step!

We're not quite to the finish line yet! Now that your offer has been accepted, we will need to order an inspection and an appraisal. This is one of the final steps before you get the keys to your new home!

First, you will need to order a home inspection by a professional (we can recommend a few that we know and trust). They will complete a comprehensive inspection of the home to ensure all of the major (and minor) parts of the home are in working order. If there are any major issues or small items that need attention then this is our chance to renegotiate better terms with the sellers. The last thing we want to do is buy a home with a roof that needs to be replaced (a mistake that could cost $10,000 and up) or a home with outdated plumbing or electrical systems that need to be replaced (a mistake that could cost $3,000 or more)!

Once we get the all clear on the inspection, then it is time to order an appraisal from a certified appraisal professional. The appraisal guarantees to your lender that the price of the home matches the condition of the home in the current market.

We made it! Now, all we have to do is dot the I's and cross the T's because we're at the closing table and it's time to get moving. At closing, a title company will assist with going through all of the final paperwork, signing said paperwork, and recording all of the signed documents to ensure the house is officially yours! Remember to bring all of the paperwork you've collected along the way and to wire your down payment and any closing costs to the title company who will hold the money in escrow until all parties have signed the paperwork.

Grab a bottle of champagne🍾 (provided by us if you like champagne so be sure to let us know if you do😊) and have a toast to your new home!

Congratulations, you are now a homeowner!

Are you ready to take the first step? Click here!

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