You're Only 11 Steps Away From Buying a Home
by Janet Wickell
from http://about.com/

A Step By Step Look at Home Buying

Step 6, Start Searching for a Home
Your agent will give you multiple listing sheets to study. I'm sure you'll also pick up House For Sale magazines and read classified ads in your local newspapers. You'll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. Those are all excellent ways to see what's available. Here are some tools to help you narrow your home buying search.

Home Buying Search Tools

1. Consider the Houses that Others Overlook

2. It's Time to Find Out What's Out There

3. Search Public Versions of Multiple Listing Service Web Sites

4. Find Real Estate Agent Web Sites

5. Browse Real Estate Search Engines and Networks

6. Find For Sale By Owner Properties

7. Look at Print Magazines

8. Find Foreclosed Homes

Step 7, Handle Pre-Offer Tasks
Deciding whether or not you want to buy a house involves a look at its structure and its features, but there are many other topics that are every bit as important to your purchase. Here are a few topics you should explore before you make an offer.

Background Reading

1. How's the Resale Potential?

2. Contract Contingency Basics

3. What Kind of House Is It? Site Built, Modular, Manufactured

4. Do Others Have a Right to Use the Property?

5. Can You Live with the Deed Restrictions?

6. Is the Reported Square Footage Accurate?

7. Is the Heating System Efficient?

Step 8, Make an Offer
There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location. However, there are some home buying tips that can help you fine-tune your offer, no matter where you live.

Background Reading

1. What Comes With the House? Contract Considerations

2. What Should the Seller Disclose?

3. Determine if Lead Paint Disclosures Are Required

4. Decide How Much to Offer

5. Asking for Possession Before Closing

6. Special Considerations for For Sale By Owner Purchases

Step 9, Home Inspections and Other Tests
In some states, home inspections are accomplished before the final purchase contract is signed. In other states, inspections take place after an offer is finalized. No matter when you do them, it's critical to decide which inspections and tests you want to perform.

Talk with your real estate agent or other advisor to find out when inspections should be handled and if additional types of testing are important for your specific area.

Background Reading

1. Order a Full Home Inpsection

2. Testing for Radon Gas

3. Looking for Molds and Mildew

4. Lead Paint Disclosures & Inspections for Pre-1978 Homes

5. Is There a Private Well on the Property?

6. Understanding and Checking the Septic System

7. Tenting to Eradicate Wood Destroying Insects

8. Should You Buy a Home Warranty?

Step 10, Avoiding and Correcting Last Minute Problems
As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house.

Background Reading

1. 10 Things You Shouldn't Do When You're Buying a Home

2. Get the Facts About Residential Appraisal Methods

3. How to Deal with a Low Appraisal

Step 11, You're on the Way to Closing
Most of your home buying problems are behind you now and you're on your way to closing, also called settlement, the event that transfers ownership of the property to you. Just a few more things to learn, a few more things to do, and you're there!

Background Reading

1. Coping with Buyer Remorse

2. Get the Facts About Title Insurance

3. Learn to Read the HUD-1 Settlement Statement

4. Take Your Final Walk-Through

Closing Thoughts
The steps outlined in this article are a general home buying guide. You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your lender, your attorney, your closing agent, or others who are helping you complete the home buying transaction.

Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money--you'll feel much better about the transaction if you stay informed and understand what's happening every step along the way.

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