Home Buyer’s Guide:
Follow These Steps To Buy a House

If you’ve never made a home purchase before, then this first time home buying guide is just what you need. Here you will find the steps to buy a house broken down in an easy-to-understand manner that will help you visualize the process of buying a house.

Home Buyer’s Guide Step 1: Financial Health

Before you can begin the process of buying a house, you need to be sure that your finances are in order. To do this, you should order your credit report to see your credit score. If it is not high enough, work to increase your score before you consider a home purchase.

Home Buyer’s Guide Step 2: Find a Lender

The steps to buy a house may sound out of order, but you should always find a lender before finding a house. The lender will pre-qualify you for a loan. In this way, you will know the right price range and won’t fall in love with a home you cannot afford.

Home Buyer’s Guide Step 3: Create a Budget

Look at the costs of owning a new home and add those to your current spending habits. Be sure to include all the costs associated with buying and owning a home such as:

  • Down payment up to 20%
  • Closing costs
  • Inspection and application fees
  • Mortgage payments
  • Property taxes
  • Insurance
  • Maintenance costs
  • Homeowners association fees

Home Buyer’s Guide Step 4: Find a Buyer’s Agent

The process of buying a house is complex, but a good buyer’s agent will make it go smoothly. Bishop Country will help you understand the steps to buy a house from finding a home to closing. We will help you define your wants and needs so that you can find the home of your dreams at a price you can afford.

Home Buyer’s Guide Step 5: Find a Home and Make an Offer

During this part of the home purchase process, you will look at a number of homes with your buyer’s agent. Once you find a home that you love, it is time to make an offer. Bishop Country can help you create an offer that has the right terms and conditions for you that will also be acceptable to the seller.

Home Buyer’s Guide Step 6: Negotiation

Most offers are reviewed by the seller and then sent back with a counter offer. As the buyer, you can accept the counter offer or provide another offer. This process is known as negotiation. Bishop Country has experience negotiating with sellers and coming up with an offer that satisfies both parties.

Home Buyer’s Guide Step 7: Escrow and Inspections

Part of your offer was an amount you would pay to show you are serious about buying the house. This is called earnest money and will be put into an escrow account.

The home purchase will be contingent on the house passing inspection. A good first time home buying guide always recommends that you inspect the home to be sure that it has no unknown issues. An inspection will protect you from:

  • Structural issues due to poor construction
  • Water damage
  • Foundation issues
  • HVAC, electrical, or plumbing problems
  • And more

Home Buyer’s Guide Step 8: Apply for a Mortgage

Once the home passes inspection, the next step in the process of buying a house is to submit your application for your mortgage.

Home Buyer’s Guide Step 9: Appraisals and Title Work

Before a lender can give you a loan, they need to be sure the house is valued at or above the amount they will lend. They will also do a title search to be sure there are no problems with the ownership status of the property.

Home Buyer’s Guide Step 10: Closing

Once everything is ready to go, all contingencies in the offer will be removed and the process of buying a house moves to the closing table. Here, all parties will sign the legal documents, and the transaction will close. At this time, the home purchase is complete. You are now a homeowner and can begin moving into your new home.

Are you a first time home buyer?

Here are some additional home buying resources for you:

At Bishop Country, we hope that our first time home buying guide has helped you understand the steps to buy a house. If you have any questions about the process of buying a house, we’d love to hear from you.

*Property Type
Residential Town House / Condo Land / Acreage / Horse Property
*Bedrooms
1+ 2+ 3+ 4+ 5+
*Bathrooms
1+ 2+ 3+ 4+ 5+
Do you have a house to sell?
Yes No
When are you looking to Buy?
*Price Range
*City / Area / Zip
Please Tell us about anything else you are looking for. Location, Schools, Views, Style, etc
*First Name
*Last Name
*Email Address
*Phone Number (Format xxx-xxx-xxxx)
Contact Preference
By Email By Phone