[ninja_form id=3]


1. Figure out how much house you can afford. 

  • Calculate your monthly income and debt. Check your credit report and FICO score.
  • Figure out your down payment.
2. Get pre-approved for a mortgage
  • Choose a type of mortgage.
  • Shop for the best interest rates and programs.
3. Determine what you want and need in a home
  • Choose a location (downtown, urban, suburban, rural).
  • Choose a type (single family, townhouse, condo, loft).
  • Choose a price range.
  • Choose a size.
  • Choose an architectural style.
4. Research your target neighborhoods
  • Look online for information on schools, crime rate, traffic and zoning.
  • Determine your work commute.
  • Scout local amenities, such as parks, shops and restaurants.
5. Research each home you want to buy
  • Ask the Arati Hammond Team 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.
6. Make an offer and negotiate
  • Determine the purchase price.
  • Include contingencies, such as financial, inspection or purchase.
  • 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 Purchase and Sale Agreement.
7. 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 insurance company.
  • Complete the loan process with the lender.
  • Do a walk-through inspection prior to closing.
  • Set aside cash for the closing costs and down payment.
  • Review the settlement document at least 
  • 2 days before closing to see how funds will be collected and distributed.
  • Arrange for your bank’s wiring the amount you need to bring to closing, including the down payment and closing costs.