Meeting with your Real Estate Agent. Your agent can help you to figure out if the time is right for you to buy. Your agent will walk you through the home buying process from A to Z, and hold your hand for as long as you need it held. Your real estate agent will be the most important person in your life until the day you close.
Go Shopping for a Mortgage. It may seem backwards to shop for a mortgage before you shop for the house, but there are several reasons for doing this. First, you’ll find our how much you can borrow, which has a lot to do with how much house you can buy. Be careful not to let the lender you push you into a monthly payment you don’t feel comfortable with. There are no “rules” here – only you know how much you can comfortably handle.
Now find your new home. Start searching for homes in your desirable and affordable area with your agent and arrange showings to see inside the homes till you find your ideal home.
Ask your agent to prepare an offer. don’t fall in love with the house. You may not get it. Based on the other houses you’ve seen and recent sales of comparables, make a reasonable offer. You don’t have to offer asking price, but if you "lowball," the seller may tell you take a hike. Find out, if you can, what the seller’s circumstances are. If they’ve been waiting for years and are holding out for the best price, you may not have much room to negotiate. On the other hand, if they’ve already bought another house, they may be more “flexible.” Tailor your offer accordingly.
Once your offer is accepted (congratulations, by the way), you need to provide a deposit (based on the agreement) by a bank draft payable to Listing brokerage Trust account in next business day after acceptance of the offer (Unless otherwise is mentioned your agreement of purchase and sale).
Find a good Real Estate Lawyer and send the documents to his/her office.
Submit your mortgage application.
Apply for home insurance at lease one week before closing.
Congratulations! You’re now in debt beyond your wildest dreams! If after a few days or weeks you find yourself thinking you’ve made the biggest mistake of your life, don’t worry: it’s called “buyers remorse” and lots of new homeowners contract this disease. Give it time, watch your mortgage principal go down and enjoy the freedom of not paying rent into someone else’s bank account.