How to Buy a House

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If you find trusted advisors and investigate your choice thoroughly, you'll be thrilled with the first house you buy.

To complete this How-To you will need:

Your credit report
A mortgage company
A bank
A trusted real estate agent
A home inspector
Home insurance
An attorney

Step 1: Acquire your credit record

Acquire your credit record and clean up anything you can, paying off loans if possible.

Step 2: Get pre-qualified

Get pre-qualified by a mortgage company through an application process with a loan officer. Good candidates may be approved for a home price three times their yearly income.

Tip: Don't look for a house if you have not been in a job for at least two years and established a credit record

Step 3: Network to find a realtor

Find a realtor you trust who knows the area you have chosen to look for a house.

Step 4: Get a disclosure

Get a disclosure or list of problems from the seller of the home you have chosen. Consult your realtor's list of comparable values in the area to determine what your offer will be.

Step 5: Make an offer

Make an offer stipulating a satisfactory inspection of the home and an appraised value equal to or more than the purchase price. Have an inspection done, and expect the owner to fix any problems, or negotiates a new price.

Step 6: Search for insurance

Search for insurance coverage once all purchase agreement contingencies have been removed. Before closing, review the final closing papers with your real estate agent and attorney.

Tip: Lenders can vary on origination fees and other loan costs so shop around for the best way to lower your monthly payment.

Step 7: Close it

Close the deal at a title company chosen by the seller to finish the paperwork. Then pay the down payment, along with closing costs.

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Tags:

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• buying
• purchasing
• home
• selling
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• estate

[votumseparatum1]

Warning: This does not apply to the board game Monopoly.

[ckarwing]

Step 3: Crash everything and have a makeover

[XTGNecro]

00:13 in the window wtf howcast.

[INeedaBooYah]

I thought it said how to buy a horse....

[MrDarthvader011]

0:56 that house has 2 leaky roofs?

[panos21r1]

Thanks, I didn't know how to but a house.

[MidgeyMe]

FACT: Mortgage companies are run by cats

[jvolstad]

A trusted Realtor?  What is that?

[likeasomeboodeebic]

fuck dis im a chld livin in wack apartment in the bronx i wanna go get a house in yonkers so fuck dis

[coolymichael]

seriously?

[brutaka359]

No sexist, racist, rapist or trollin' jokes.. but this just doesn't help.

[mega0987654321a]

next: how to buy a laptop