Buying a house is an overwhelming process. There are countless websites that provide a portion of information on house buying process but no one seems to provide an overview of the entire process.
The goal of this website is to provide an overview of house buying process from start to finish. The intent is to provide essential information in general and legal terms, to educate what to expect from the process, and to understand what topics to research further.
Below lists a property purchasing process summary from start to end in order. Click them for more details.
Terms & Rules
- House Category
- Condo (condominium), Townhouse, Duplex, Co-op, Single house
- Homeowner Association (HOA)
- Mortgage Loan
- Types of loans: FHA, Veteran, Conforming, Super Conforming, Jumbo
- Types of APRs: Variable and Fixed
- Qualification Metrics: Proof of income, Credit score, Monthly payments & monthly gross income, etc.
- Property Tax – Expected rate, Mellos Roos (California only)
- Bank Owned & Short Sales
- Getting to know your price range – desired and maximum
- Pre-approval for mortgage loan and picking the right loan officer
- Researching & Comparing Neighborhoods
- Real Estate Agent
- Finding the best Real Estate Agent
- Online Property Listing Websites
- Recommended residential property listing website – Redfin, Zillow, Trulia
- What to look for on a house description from website and tips
- House Tour
- What to look for – neighbors, amount of sunlight, general feel of the house, etc.
- Analysis & Decision
- Tips on house comparison & selection
Offer & Escrow
- Offer – What to expect and tips
- Escrow – What to expect and terms to know; such as Contract fee, Contingency period, Inspection, Appraisal, Loan process, etc.