Cory Meals
Cory Meals
(903) 821-9326(903) 821-9326

For First Time Home Buyers

With the start of a new year, everyone is talking about their resolutions and goals. One of the goals that gets me so excited to hear about is the goal of becoming a home owner, and especially if it is a first time home buyer! The home buying process can be a little scary if you don’t know where to start, or what to expect along the way. Check out this video and learn about the home buying process so you know how to start your home buying journey!

The Home Buying Process

  1. Pre-Approval with a lender
    • What price range suits your budget?
    • Listing agents are demanding pre-approval with some showings and ALL offers!
  1. Buyers Representation Agreement
    • An agency relationship ensures that your buyer’s agent is advocating on your behalf, negotiating the best price for you, and keeping your best interests in mind!
  1. Begin the home search
  1. Submitting an offer
    • A market analysis will help us determine a competitive offer price.
  1. Offer accepted
    • Earnest money and option fee must be delivered to the title company and the seller within 3 days of contract execution
  1. Option Period/Home Inspection
    • The option period allows you to hire a licensed home inspector to make you, the buyer, aware of any defects with the home.
    • After we receive the inspection report we can negotiate with the seller to repair damaged items, or possibly reduce the sales price.
  1. Title Commitment
    • The contracted title company will look at deed history and title commitment to ensure that the property is free and clear of any liens, judgments, or title disputes
    • A title insurance policy (typically paid by the seller) will be issued to ensure that if any future title issues arise, title insurance will cover those issues.
  1. Appraisal
    • A licensed appraiser will value the home to ensure the home is worth the amount the lender is willing to loan on the home
    • Appraisers find 3 active listings and 3 listings that have sold within the past 6 months to determine the market value of a home.
  1. Pre-Closing
    • The lender and title company calculate the exact amount due at closing from the buyer and will provide a HUD-1 Settlement Statement for buyer and buyers agent to review
    • Final walk thru to ensure that any and all repairs have been appropriately handled and the home is move in ready.

 10. Closing

  • Title company will coordinate with buyer and seller to schedule times to come in and sign off on all closing documents.
  • Buyer needs to bring exact amount due at closing in the form of a cashiers check made out to the title company


Congratulations! You are now a homeowner! You will receive the keys to the property as soon as the lender wires the money and the transaction is funded!

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