10 Steps to Buying a Home

Thinking about buying a home? Here are the 10 steps to get you from considering to closing (see Figure 1. Home Buying Flow Chart below).

  1. Get pre-qualified with a lending specialist
  2. Shop for your dream home with an accomplished real estate professional
  3. Choose a top 2 list
  4. Place an offer on your top choice
  5. Be prepared for a counter offer
  6. Sign and date the effective contract
  7. Take note of the option period
  8. Order inspections and negotiate repairs
  9. Terminate or proceed with the contract
  10. After final approval, go to closing to sign and own your new home

In addition to the 10 steps to buying a home you will need to consider the following up-front costs in order to determine if you have the appropriate cash reserves to get started:

  • Earnest money – typically 1% of sales price – the amount of earnest money is negotiable and varies with the value of the property
  • Option money – $100 – $350
  • Inspection fee – $350 – $450
  • Appraisal – $325-$425
  • Credit report – $75

Looking for a home in the San Antonio or Boerne area? Click here for the latest listing and market information.

10 Steps to Home Buying

Figure 1. Home Buying Flow Chart