Eight Steps to Buying Your Home


1. Decide To Buy

There may be good reasons for you to buy a home – wealth building ranks at the top of the list. Equity buildup, value appreciation and tax benefits are all good financial reasons to support your decision to purchase a home.


  1. If you are paying rent, you likely can afford to buy.

  2. Find a good buy and make sure you have the financial ability to hold on to it for the long run.

  3. The lack of a substantial down payment doesn't prevent you from making your first home purchase.

  4. A less-than-perfect credit score won't necessarily stop you from buying a home.

  5. The best way to get closer to buying your ultimate dream home is to buy your first home now.

  6. Buying a home is not complicated - knowledgeable real estate professionals can help you every step of the way.


2. Hire Your Agent

The typical real estate transaction involves insurance assessors, mortgage brokers, underwriters, inspectors, appraisers, escrow officers, buyer's agents, seller's agents, bankers, title researchers and a number of other individuals whose actions and decisions have to be orchestrated to perform in harmony and get a home sale closed. It the Witte Group’s responsibility, as your buying agent, to expertly coordinate all these professionals and act as your advocate.

Our main roles are to:

  1. Educate you about your market.

  2. Analyze your desires and needs.

  3. Guide you to homes that fit your criteria.

  4. Coordinate the work of other needed professionals.

  5. Negotiate on your behalf.

  6. Double-check paperwork and deadlines.

  7. Solve any problems that may arise.


Qualifications are important. However, finding a solid, professional agent means getting beyond the resume, and into what makes an agent effective. Use the following questions as your starting point in hiring your licensed, professional real estate agent:

  • Why did you become a real estate agent?

  • Why should I work with you?

  • What do you do better than other real estate agents?

  • What process will you use to help me find the right home for my particular wants and needs?

  • What are the most common things that go wrong in a transaction and how would you handle them?

  • What are some mistakes that you think people make when buying their first home?

  • What other professionals do you suggest we work with and what are their credentials?

  • Can you provide me with references or testimonials from past clients?


3. Secure Financing

To help our first-time homebuyers understand the financing process, we have outlined an easy-to-understand process to financing a home:

  1. Choose a loan officer (or mortgage specialist).

  2. Make a loan application and get preapproved.

  3. Determine what you want to pay and select a loan option.

  4. Give the lender an accepted purchase offer contract.

  5. Get an appraisal and title commitment.

  6. Obtain funding for closing.


4. Find Your Home

Finding your home begins with carefully selecting an agent who can help you assess your values, wants and needs – short and long term.

  • What do I want my home to be close to?

  • How much space do I need and why?

  • Which is more critical: location or size?

  • Would I be interested in a fixer-upper?

  • How important is home value appreciation?

  • Is neighborhood stability a priority?

  • Would I be interested in a condo?

  • Would I be interested in new home construction?

  • What features and amenities do I want?


5. Make an Offer

When finding your dream home and making an offer, it is important to approach this process with a cool head and a realistic market perspective. Three basic components of an offer are price, terms and contingencies:

  • Price - the right price must reflect the true market value of the home you want to buy. The Witte Group market research will guide your decision.

  • Terms - financial and timing factors included in your offer fall under six categories:

  1. Schedule - events that must happen before closing.

  2. Conveyances - items that stay with the home when the seller leaves.

  3. Commission - real estate commission for seller’s agent and buyer’s agent.

  4. Closing Costs - buyers pay closing costs which can be written into the loan.

  5. Home Warranty - to cover repairs, appliance or systems replacements. Buyer may ask the seller to cover the home warranty.

  6. Earnest Money - protects seller from the possibility of buyer unexpectedly pulling of the deal and shows the seriousness of your offer.


6. Homeowner’s Policy

The Homeowner's insurance policy protects you in two major ways:

  • Against loss or damage to your property.

  • Liability if someone sustains an injury on your property.


The property inspection should expose the secret issues a home might hide so you know exactly what you're getting into before you sign your closing papers.

  • Your major concern is structural damage.

  • Don't sweat the small stuff. Things that are easily fixed can be overlooked.

  • If you have a big problem arise in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.


7. Closing

The home buying pre-closing process allows the lender to confirm the home value, legal status and your creditworthiness. This entails a survey, appraisal, title search and final financing approval.

You just have a few preclosing responsibilities:

  • Keep your finances in control.

  • Return phone calls and paperwork promptly.

  • Communicate with your agent at least once a week.

  • One week before closing, confirm with your agent that all your documentation is in place and in order.

  • Obtain certified closing funds.

  • Conduct the final walk-through.


As long as you follow directions, home closing is an easy experience. On closing day, with guidance from the Witte Group, you'll sign documents that do the following:

  1. Finalize your mortgage.

  2. Pay the seller.

  3. Pay your closing costs.

  4. Transfer title from the seller to you.

  5. Prepare to legally record the transaction as a public record.


8. Protect Your Investment

During your home-buying experience, Witte Group strives to build a valuable relationship with you. We are here to help you long after your transaction is complete:

  • Helping with your first tax return as a homeowner.

  • Finding contractors for home maintenance or remodeling.

  • Helping your friends find homes.

  • Tracking your home's updated market value.


Home maintenance is essential to protecting your long-term home value:

  • Perform routine maintenance on your home's systems, depending on their age and style.

  • Look for leaks, damage and wear. Fix small problems early to save you big money later.