Home Buying Process

Home for sale

The home buying process is exciting but can also be very overwhelming! At Gatewood Properties we can help you navigate the process and into your new home!

So, in short, what does the home buying process look like?

  1. Meet with a Realtor
    To begin the process you will meet with a real estate agent to discuss the type of home you are looking for in detail. It’s important to take advantage of this FREE representation!
  2. Get Pre Approved/Proof of Funds
    You will gather pay stubs, w2s, and bank statements for your lender to best determine how much house you can afford. If you are a cash buyer, your bank or financial institution will provide a proof of funds document.
  3. Search for a Property
    Your agent will give you access to an online tool to view properties that best fit your criteria. When you find properties that you want to see, your agent will then schedule showings.
  4. Make an Offer and Get Under Contract
    Your agent will make an offer with your price and terms to the sellers agent on your behalf. All parties will sign and a timeline will be established.
  5. Inspection and Repairs
    You will schedule an inspection of the property at your cost. Any agreed upon repairs will be made by the seller within an agreed time frame.
  6. Appraisal
    Your mortgage lender will schedule an appraisal of the home where the value of the home will be assessed.
  7. Final Preparations for Closing
    Final details from the inspection and appraisal will be reviewed. You will also review the final terms with your mortgage lender and finalize your loan.
  8. Closing
    The closing will be facilitated by an attorney or title company where the final paperwork will be signed, funds transferred, and you will take ownership.

Please feel free to download the Home Buying Process infographic below and don’t hesitate to contact us if you have any questions about the home buying process.

The Home Buying Process Infographic

The home buying process infographic thumbnail

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