The Steps To Buying A Home

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The Steps To Buying A HomeAre you a first-time homebuyer? Maybe you've bought real estate before and are just a little rusty. The home-buying process can seem overwhelming if you have never done it before or don't work in the industry. Buying a home can be incredibly rewarding once you get through the process. The key is to educate yourself so you know what to expect as you take this journey. Let’s take a look at the basic steps for home buyers,

Be Ready

You want to be ready financially and mentally before you buy a home. This is a big commitment and it is important to consider your future goals and the next few years of your life before you plant some roots.


Buying a home will be one of the biggest financial decisions you ever make. Your finances must be in order before you jump into a home purchase. You can use things such as a home affordability calculator to consider your financial situation.

Down Payment

While you determine a price point, you will want to determine how much you need to save toward a down payment. A majority of home buyers strive to have a 20% down payment, but you can pay down less. This means you could have to pay mortgage insurance, which will increase your monthly payment.


It is time to get pre-approved with a lender. This is where you have an in-depth understanding of what you can afford and what you can write an offer on. Your lender will also walk you through what mortgage best fits your financial situation and provides your family with the best log term payment. Your lender will get you pre-approved and give you a pre-approval letter to show sellers you are ready and have already completed some of the necessary steps toward finalizing your mortgage loan.

Work With An Agent

When you have your preapproval letter in hand you can begin working with your agent to look at your wish lists and determine the kind of house you are looking for within your price range.

House Shopping

The fun part begins as your agent brings you homes to look at that meet your budget and criteria. This is when you get to go walk through these homes and possibly imagine your life there.

The Steps To Buying A Home in DelawareMake An Offer

Once you have found a home, it is time to make an offer. Your agent will be your biggest resource at that point. Your offer could be rejected, countered, or accepted. If your offer is accepted, then you move into the escrow process.

Home Inspection

The home will have an inspection by a certified home inspector and this will give you great insight into the structural integrity of the home which will allow you time to walk away or negotiate any repairs you see fit. Buyers, with the help of their agent, select the home inspector and the buyer covers the cost.


Negotiations take place after the home inspection to solidify repairs or some kind of financial credit. Again, your agent will be extremely helpful in helping you navigate the negotiations.

Home Appraisal

The home appraisal happens separately from the home inspection and is used to finalize the mortgage. Your lender will choose the appraiser. The appraisal looks closely at the home you're buying and at comparable recently sold homes to determine the market value of the property.

Homeowners Insurance

Your lender will walk you through obtaining your homeowner's insurance before releasing the funds of your mortgage. You will want to make sure your coverage will fully replace your home in the event of any kind of severe damage.


When all of these steps are complete, you are set to close. You will sign all of the closing documents, do a final walk-through, and get your keys!

In Conclusion

For more information on buying a home in the Sussex County, Kent County or New Castle County Delaware Contact Us. We would be happy to help you navigate the process.

Contact Jeffrey Fowler Group Your Buyers Agent in Delaware

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