The Home Buying Process

Home Buying Process: What to Expect

Buying a home is one of the biggest financial decisions you'll make, but it doesn't have to be overwhelming. My goal is to guide you through every step of the process, answer your questions, and make sure you feel confident from start to finish.

Step 1: Get Pre-Approved with a Local Lender

The first step is obtaining a mortgage pre-approval. This helps determine your purchasing power and gives you a clear understanding of your monthly payment and financing options before we begin shopping.

During your pre-approval, you'll discuss:

  • Your ideal monthly payment

  • Down payment options

  • Income, bonuses, and other qualifying factors

  • First-time homebuyer programs (if applicable)

  • Available loan types, including:

    • Conventional

    • FHA

    • VA

    • USDA

    • Bridge Loans

    • Other specialty loan programs

Your lender will also review estimated closing costs, lender fees, and any funds you'll need to bring to closing.

Why use a local lender?

Local lenders are familiar with our market, communicate more efficiently with agents, and are often able to provide a smoother, faster closing experience.

Step 2: Begin Your Home Search

Once you're pre-approved, the fun begins!

We'll start with a Buyer Consultation where we'll discuss:

  • Your goals

  • Budget

  • Timeline

  • Must-have features

  • Preferred locations

  • Future plans

Next, I'll create a private MLS search portal customized specifically to your criteria. You'll receive instant notifications anytime a new listing (or coming soon property) matches what you're looking for.

When you find homes you'd like to see, simply let me know!

Before we schedule a showing, I review the Seller's Disclosure whenever available to identify any major concerns or potential red flags before you invest your time touring the property.

Step 3: Touring Homes

We'll schedule private showings for your favorite homes.

During each tour, I'll help you evaluate:

  • Overall condition

  • Potential repairs

  • Resale value

  • Items that may affect financing or insurance

My goal is to help you make an informed decision—not just fall in love with a house.

Step 4: Making an Offer

Found "the one"? Let's write a winning offer!

Before submitting an offer, I'll complete a Comparative Market Analysis (CMA) to determine the home's market value.

Together we'll discuss:

  • Purchase price

  • Earnest Money Deposit

  • Closing date

  • Inspection timelines

  • Seller concessions

  • Closing cost assistance

  • Any additional terms that strengthen your offer while protecting your interests

Every offer is customized based on current market conditions and the amount of competition for the home.

Step 5: Offer Accepted — You're Under Contract!

Congratulations!

Once your offer is accepted, we officially enter the contract period.

From this point forward, there are several important deadlines that I'll keep track of for you so nothing gets missed.

Step 6: Earnest Money Deposit (EMD)

Within 3 business days of contract acceptance, you'll submit your Earnest Money Deposit (typically around 1% of the purchase price) to the title company.

This money:

  • Shows the seller you're serious

  • Is held safely in an escrow account

  • Is credited toward your purchase at closing

  • May be refundable if the contract is terminated within the contingency periods outlined in the contract

Step 7: Home Inspections

You'll typically have 10 days to complete any inspections you'd like.

I generally recommend a full home inspection and, depending on the property, may also suggest:

  • Termite inspection

  • Radon testing

  • Sewer scope

  • Structural inspection

  • Mold inspection

  • HVAC inspection

Inspection costs generally range from $900–$1,300, depending on which inspections are selected, and are typically paid directly by the buyer at the time of service.

One of my favorite local inspection companies is Golden Homes Inspection because of their honesty, thoroughness, and professionalism.

Step 8: Review Inspection Results

After inspections, you'll have several options:

Option 1: Cancel the contract (if still within your inspection contingency) and receive your Earnest Money Deposit back.

Option 2: Request repairs or seller credits.

The seller may:

  • Agree

  • Decline

  • Counter your request

We'll negotiate together to determine the best path forward.

Option 3: Accept the home as-is and continue toward closing.

Don't worry—I will walk you through every inspection report, explain what is important, and help you determine what is worth negotiating. You're never navigating this process alone.

Step 9: Appraisal

Your lender will order an appraisal to verify the home's value.

If the appraisal:

Comes in at or above the purchase price:

Great news! We continue moving toward closing. If it appraises above your purchase price, you've gained instant equity.

Comes in below the purchase price:

We'll discuss your options, which may include:

  • Renegotiating with the seller

  • Any Lender Required Repairs IF APPLICABLE

  • Requesting a price reduction

  • Bringing additional funds to closing

  • Canceling the contract if permitted under your financing contingency

Step 10: Loan Approval

While inspections and appraisal are happening, your lender will finalize your loan.

During this time, avoid:

  • Opening new credit cards

  • Financing furniture or vehicles

  • Making large purchases

  • Changing jobs without speaking to your lender

These actions could impact your loan approval.

Step 11: Final Walk-Through

Usually within 24 hours before closing, we'll complete a final walk-through to ensure:

  • The home is in the agreed-upon condition

  • Requested repairs were completed

  • No new damage has occurred

Step 12: Closing Day

Congratulations!

On closing day, you'll meet me at the Title Company to:

  • Sign your loan documents

  • Bring any remaining funds due “Cash to Close” amounts

  • Receive your keys

  • Officially become a homeowner!

Time to celebrate!

Typical Buyer Closing Costs

Most buyers should expect closing costs to range between 1%–5% of the purchase price, depending on the loan program and lender requirements.

These costs may include:

  • Loan origination fees

  • Appraisal fee

  • Credit report fee

  • Title insurance

  • Title company fees

  • Escrow fees

  • Recording fees

  • Homeowners insurance premium

  • Prepaid property taxes

  • Prepaid interest

  • HOA transfer or setup fees (if applicable)

Depending on your offer and negotiations, the seller may agree to contribute toward some of these costs.

Frequently Asked Questions

How much are typical closing costs?

Most buyers can expect closing costs to be approximately 1%–5% of the home's purchase price, although your lender will provide an exact estimate before closing.

Who pays the buyer's real estate agent?

Buyer agent compensation is negotiated as part of the purchase agreement. In many transactions, the seller agrees to pay the buyer's agent, but buyers should understand this is negotiable and not guaranteed. We'll discuss your options before viewing homes so there are no surprises.

How long does the home buying process take?

From an accepted offer to closing, most transactions take approximately 30–45 days, although timelines can vary depending on financing, inspections, appraisal, and the terms negotiated in the contract.

How much money do I need for a down payment?

It depends on your loan program. Some loans allow as little as 3% down, while VA and USDA loans may offer 0% down for qualified buyers. Your lender will help determine the best option for you.

What is Earnest Money?

Earnest Money is a good-faith deposit submitted after your offer is accepted. It demonstrates your commitment to purchasing the home and is typically applied toward your closing costs or down payment.

Can I back out after my offer is accepted?

Yes—in certain situations. Your purchase contract includes contingency periods (such as inspections and financing) that may allow you to terminate the agreement without losing your Earnest Money Deposit. I'll explain these protections before you sign anything.

Should I waive inspections to make my offer stronger?

Generally, it is not recommended to fully waive your inspection period. While every situation is different, inspections provide valuable information about the home's condition and help protect your investment. We will discuss the three tier levels of the “IN ITS PRESENT CONDITION ADDENDUM” form that you may add to your offer to make it stronger (if needed).

What should I avoid doing after getting pre-approved?

Until after closing, avoid:

  • Opening new credit accounts

  • Financing vehicles or furniture

  • Missing bill payments

  • Making large bank deposits without documentation

  • Changing jobs without consulting your lender

These actions can affect your final loan approval.

My Promise to You

Buying a home should be exciting, not stressful.

I'll be by your side throughout the entire process to answer questions, explain every step, negotiate on your behalf, and make sure you feel informed and confident from our first conversation all the way to closing day.

My goal isn't just to help you buy a house, it's to help you make a smart investment and feel completely supported throughout the journey.

Adrienne Towner