Refer to this handy list to get you through the home buying process

1. Figure out how much house you can afford.

• Calculate your monthly income and debt.
• Check your credit report and FICO score.
• Use a mortgage calculator to estimate your monthly payments.
• Figure out your down payment.

2. Get pre-approved for a mortgage.

• Choose a type of mortgage.
• Search for lenders and mortgage brokers.
• Shop for the best interest rates and programs.

3. Determine what you want and need in a home.

• Location (downtown, urban, suburban, rural).
• Type (single family, townhouse, condo, loft).
• Determine your price range.

4. Research your target neighborhoods.

• Search information on schools, taxes, etc.
• Determine your work commute.
• Scout local amenities, such as parks, shops and restaurants.

5. Work with your Sanford Alderfer Real Estate agent to search for available homes.

• Browse listings online.
• Ask your agent to set up tours of homes that fit your criteria.
• Check local newspapers.

6. Research each home you want to buy.

• Ask your agent for comps to estimate the property’s fair market value.
• Ask the seller’s reason for selling.
• Review all property disclosures.
• Find out about liens, easements or other restrictions.

7. Make an offer and negotiate.

• Determine the purchase price.
• Include contingencies, such as financial or inspection.
• Spell out any special requests and repairs you want included in the sale.
• Determine an earnest money amount.Define a move-in date.
• Once both parties agree to the terms, sign the Agreement of Sale.

8. Finalize the deal.

• Get the house appraised.
• Get a professional home inspection.
• Consider getting specific inspections for structural engineering, roof and termites.
• Use the appraisal and inspection reports to re-negotiate if necessary.
• Choose a home company.
• Complete the loan process with the lender.
• Set aside cash for the closing costs and down payment.

9. Close the purchase.

• Review the settlement document at least 2 days before closing to see how funds will be collected and distributed.
• Do a walk-through inspection prior to closing.
• Get a cashier’s check for the amount you need to bring to closing, including the down payment and closing costs.