Home Buying Timeline

Naturally, the first step in home buying is deciding that the time is right, both financially and situationally. If you’ve reached this exciting conclusion, read on! We’ve created a general outline of the steps involved to begin the home buying process.

1. Choose a Kerrville REALTOR®.

Once you have decided that you are ready to buy a home, you will need to choose the right REALTOR®. We recommend finding an agent with expert knowledge and experience within Kerrville.

2. Contact a mortgage lender for a home mortgage pre-approval.

After you’ve chosen the right Kerrville REALTOR®, the next step will involve obtaining a loan pre-approval from a mortgage lender. This important step will reassure sellers that you are serious about your offer and have been officially approved to look for homes within your price range.

3. Go house hunting & make an offer.

Once you have been pre-approved, you will look at properties with your Kerrville REALTOR® until you find a home that fits your tastes and preferences. When you find the right one, make an offer! From there, the homeowner will accept or counter this initial offer, a process in which your Kerrville REALTOR®’s expert knowledge will be indispensable.

4. Set your mortgage in place & schedule a home inspection.

After you and the seller have agreed on a sales price, you will meet with your lender to gather the documentation required to process the loan. From here, you will schedule a home inspection to ensure that you are aware of the condition of the property and any necessary repairs. You will also need to ensure that you have found a home insurance provider and set up a policy for your new home effective on the date of closing.

5. Close on your home & set a move-in date!

Once you secure a loan and complete the home inspection, your Kerrville REALTOR® will guide you through the closing process. This will most likely take place at a title company with you (along with anyone else named on the loan) and your REALTOR®. Once you sign the paperwork, settle your down payment, and pay all closing costs, you will be the owner of a home! From here, you will receive the keys to your new home. You’re the owner of your very own piece of Kerrville real estate!

pre-approval:An assessment given by the lender that investigates the borrower

mortgage:A contract that represents the debt owed by the borrower to the lender for the money borrowed to purchase a property.

insurance:Protection against specified hazards by a company that a party pays a premium to.

closing:The final, legal act of a transaction, where contracts are agreed upon and finalized, and monies are exchanged.