Close menu

10 Steps to Buying a Home

Thinking of buying a home in Southside Virginia? Make sure you know what to expect - whether you're a first-time buyer or a real estate aficionado. Here are the steps you need to know for buying a home.

question 1

Step 1: Figure Out What You Can Affor

  • Determine what you'll be able to afford in mortgage payments each month, as well as what you can invest initially as a down payment. This handy mortgage calculator can help you estimate your monthly payments.
  • Keep in mind additional costs like closing costs, fees, homeowners insurance, and taxes will all add to the overall costs. Be sure to check your credit score, and remember that just because you don't have a traditional 20% down payment doesn't mean you can't buy a home!
Meet Realty Resource LLC

question two

Step 2: Shop for a Loan and Get Preapproved

  • Finding a trustworthy lender and determining what type of loan you'll qualify for will help you figure out how much home you can actually afford. Get recommendations, check with the Better Business Bureau, and be sure to talk to at least three or four lenders before making a decision.
Ask Us Anything

question three

Step 3: Determine the Selling Price of Homes in Your Location

  • If you have a preferred location or neighborhood, find out the actual selling price of homes in that area - not just their listing price—to confirm whether you can actually afford that location.
Request Your Neighborhood Sold Report

question four

Step 4: Find an Agent

  • You don’t have to work with an agent—but it is extremely recommended unless you are a highly experienced buyer or lawyer. Your agent should be someone you know you can trust, an expert on real estate in your area and neighborhood, and very proficient in working with buyers of your experience.
Learn more about Realty Resource LLC

question five

Step 5: Find Your Home

  • This is the fun part, where you get to visit open houses, tour homes, make notes, and really hone in on your perfect dream home! Make sure you keep detailed records of the homes you visit, noting things you liked, didn't like, pros and cons, etc. Taking pictures can also keep your memory fresh.
Start Searching for Your Dream Home

question six

Step 6: Make an Offer

  • When you find your favorite home, work with your agent to determine a competitive but reasonable offering price. You'll want to choose a number that is comfortably within your price range but competitive enough that it won't cause the seller to immediately reject your offer.
Review these FAQs

question seven

Step 7: Get an Inspection

  • Nothing's finalized yet, so make sure you're getting your money's worth! Ask your real estate agent to recommend a trusted home inspector to walk through the house and check for any potential defects or problems. If necessary, you can request that the seller repair any issues you find.
Get in Touch

question either

Step 8: Review Your Contract

  • Before you sign any paperwork, it's important that you carefully read over the contract with your agent or lawyer to ensure there are contingencies - that is, if something falls through with your mortgage, you aren't still obligated to buy the home.
Ask Us Anything

question nine

Step 9: Finalize Your Mortgage Approval

  • OWork with your chosen lender to submit your mortgage application, review predicted closing costs, and have your home appraised. Common closing costs include attorney fees, title insurance, appraisal fees, home inspection fees, courier fees, government recording fees, and taxes.
Ask Us Anything

question ten

Step 10: Close and Pay

  • It's time to close! Meet with your agent, lender, and the seller to finalize the paperwork, sign your contracts, and pay your down payment and closing costs. Finally - the keys to your new home!
Start Packing

Still Have Questions or Ready to Get Started?

If you're thinking of buying a home in Clarksville, Halifax, or South Boston, then it's time to contact Realty Resource LLC. We're your local real estate experts. Not only can we answer all your buying questions, we can help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources we have to offer.

Questions? Ask away.

By giving us your phone number and email address, you are giving Sharon Wilborn permission to contact you via email or phone.