Home Buying Process

Are you planning to buy a home in Coeur d'Alene or North Idaho? Here are 10 steps of the home buying process. Buying a home can be long and often stressful process. We hope this can help you navigate and understand that process better to make it less stressful. If you have any questions or need help with your next home purchase, please contact us.

STEP 1: Analyzing Your Needs and Wants

The very first step is to figure out what you need for your new home. Needs and wants are very different so they should be separated. You may not be able to find a home that has all. So your needs outweigh your wants when buying.

STEP 2: Getting Pre-Qualified or Pre-Approved

These two qualifications will be done through your mortgage company. They are not the same and are looked at differently to sellers. We can help you get in touch with a mortgage company if you haven't already. - Learn More

STEP 3: Hiring the Right Realtor

Choosing a Realtor should not be an easy decision. Most people go with the first person they meet. This leads to most home buyers having a bad experience. When you interview an agent, make sure they can meet your needs.

STEP 4: Viewing and Shopping for Homes

Searching for a home can be time consuming and you should never just look at the home. It is very important to take your time and learn about the neighborhood the home is in. The neighborhood can be as important as the home.

STEP 5: Making an Offer!

After you and your Realtor have found your perfect home in a wonderful neighborhood, you make an offer. There are many ways to write an offer and a lot that goes into them. Make sure your Realtor clearly understands your situation.

STEP 6: Negotiating the Offer

Sellers won't always accept your first offer. Counter offers and negotiations always take place in real estate transactions. They also happen a few more times after the accepted offer and there are multiple terms to negotiate on.

STEP 7: Inspections and Appraisal

Once your initial offer has been accepted, inspectors, appraisers, and other maintenance personnel will come into play. Not all are the same and your Realtor should be able to help you find reputable vendors in the area.

STEP 8: Pre-Closing Homework and Checklist

There may be a few weeks that pass during the inspection and appraisal processes. During this time you should be preparing for your move. Make sure you have everything ready to go before closing day.

STEP 9: Closing on Your New Home

Closing is a process that takes place at your chosen title and/or escrow company. All documents are reviewed, signed and the title is transferred. Once the money is paid out and transaction recorded, you receive the keys to your new home.

STEP 10: Post Closing To-Do's and Advice

You aren't done quite yet. There are some things to do once you move into your fancy new home. Transfer utilities, mail forwarding, getting a home owners exemption filed and more. Your Realtor should be able to help or advise you with these.