How the homebuying process works

Buying a home follows a series of steps. Knowing what comes next helps you plan your time and avoid surprises.

The main steps

1. Get ready. Review your budget, savings, and monthly costs, and decide what you want in a home.
2. Choose how you'll buy. Decide whether you'll work with a real estate agent, and who you'll use for financing.
3. Find a home and make an offer. Your offer includes a price and terms, such as a closing date.
4. Sign the purchase contract. Once accepted, the contract sets the timelines and conditions for the sale.
5. Inspect and appraise. An inspection looks at the home's condition. An appraisal confirms its value.
6. Finalize financing and documents. Your lender and title company prepare the closing paperwork.
7. Close. You sign the final documents, pay closing costs, and receive the keys.

Every purchase is different, so timelines vary. Keep your contacts informed and ask questions early.