You’ve gotten pre-approved, you’ve found a home you love, and you’re under contract. While you may think closing is the next step, we’ve got 11 more steps to go.

Congratulations! You’re on your way to becoming a homeowner. While you’ve signed the contract, there are 17 steps in the buying process. The good news, you’ve already completed 6 of these steps.

Step 7, earnest money

Earnest money is the money that is exchanged with your offer. Now, this is something that is negotiable. You also want to keep in mind that this is very time-sensitive. That earnest money deposit needs to be received in the timeline that is stated on your contract.

Step 8, lock in your rate

You’ve already been pre-approved and most likely have been quoted a rate with your lender. But rates change daily. You want to lock in your rate with your lender so you know what the actual rate is for your loan come closing day.

Steps 9 and 10 go hand-in-hand, inspection and appraisals

An inspection checks the condition of the home. An appraisal checks the value. Home inspection companies look at the functions of your house. They look at the roof, air conditioning, plumbing, and electrical systems so you can make the best investment decisions in the buying process.

Steps 11 and 12, processor review and final underwriting

The processor review and final underwriting are two internal bank checks that are done to make sure you haven’t changed employment, that you haven’t gone out and bought a car right before trying to close on the loan, and that none of your other financial circumstances have changed.

Step 13 is a BIG one

The words we’re looking for are CLEAR TO CLOSE. Now, this is what our entire team is working towards during this process. The lender could come back with a denial or counter offer but the words that we’re looking for are CTC or Clear To Close.

And once we have a Clear to Close, we’re on the homestretch.

Step 14, it’s time to finalize insurance

You want to make sure you do your homework. Not all insurance is the same. (That’s a different video). You want to call your insurance agent and let them know that you are closing and have them bind the insurance policy.

Steps 15, 16, and 17, you’re down to the final three 

Schedule the closing. Wire the funds needed for closing. And step #17, Congratulations! You now have the keys to your new home.

As you can see, there’s a lot going on behind the scenes during the buying process. My team and I free you from having to worry about all the unnerving details. We will always keep you in the loop along the entire way, making sure it goes as smoothly as possible during a sometimes stressful and complicated process.

Please feel free to reach out if you have any questions or if you need recommendations from lenders, inspectors, title companies. I’m happy to help.