June 1, 2026
You're Ready to Buy a House: Purchasing Process
If you’ve read, You’re ready to buy a house – getting started, you’ve already done a lot of the heavy lifting. By this point, you should:
- Understand of the full costs of homeownership.
- Have a list of your needs vs. wants.
- Be working with a real estate agent you trust.
- Have a preapproval from a local lender.
With that foundation in place, let’s walk through what happens next as you search for – and secure – the one.
- Shop
This is the fun part! You and your agent should be on the same page about what you’re looking for. Based on your budget, needs and wants, your agent will show you homes that truly fit. Since you have already narrowed your criteria, your search should feel more focused and manageable.
- Make an Offer
Once you’ve decided on a home, it’s time to submit an offer. Your agent will guide you on how to make your offer competitive and appealing to the seller.
Your offer includes:
• The purchase price.
• Any contingencies or requests, such as closing cost assistance or repairs.
After your offer is submitted, the seller has three options:
• Accept – The seller agrees to your terms. When the offer is accepted, the contract becomes binding and outlines the rest of the transaction.
• Reject – The seller declines your offer. They are not required to provide any reason for the rejection, so you may not find out what they didn’t agree with.
• Counteroffer – The seller proposes changes to your terms. This begins the negotiation process, and you can accept, reject or counter back.
- Due Diligence Period
This is your chance to take a closer look at the house to make sure it’s the right fit. During the due diligence period, you’ll hire professionals, at a separate out-of-pocket cost to you, to examine the home for any potential problems. You can select anyone you want and may reach out to multiple professionals to get the best price, but remember to be mindful of the time frame allotted within your contract. Your contract will specify how long this period lasts, typically between 7-14 days, so it’s important to act quickly.
Common steps during due diligence include:
• Home inspection – While some buyers waive their inspection to strengthen their offer, this is generally not recommended. A home inspector provides a broad overview of the property’s condition and identifies items that may need to be fixed now or could pose an issue in the future.
• Land survey – Depending on the property, you may want a survey to confirm boundary lines and identify any easements and encroachments.
• Environmental testing – Testing for mold, lead, radon, or other hazards will provide peace of mind. If issues are discovered, you may request remediation or use the findings as leverage to negotiate the purchase price of the home, if you want to move forward.
• Homeowners’ insurance - You are required to show proof of insurance to your lender before closing. Depending on the location, you may also need flood, fire, or hurricane insurance. Take time to shop around for the best policy and compare costs. You will typically pay a full year of coverage up front, which is included as part of the closing costs.
If inspections uncover issues, you can negotiate with the seller. You may ask them to make repairs, offer a credit, or reduce the purchase prices so you can handle the repairs yourself.
- Final walkthrough
Shortly before closing, you will do a final walkthrough of the home. This is your chance to:
• Confirm the home is in the same condition as when you made the offer.
• Verify that agreed-upon repairs have been completed.
• Ensure the seller has removed all belongings.
Sellers are not required to deep clean before you move in, but all their belongings should be removed. If there are any notable issues, be sure to tell your agent right away.
- Closing!
You’ve made it to closing day. Be sure to bring:
• A valid identification.
• Any remaining closing costs that need to be paid.
Closing costs are generally paid by bank check or wire transfer. Your agent will tell you which method is needed. If wiring funds, be sure to protect yourself by reviewing How Scammers Use Wire Fraud to Divert Mortgage Closing Costs and always verify wiring instructions directly with trusted contacts. You’ve worked hard for your money so keep it safe and avoid any potential risks.
During the closing appointment, it is important to review each document before signing. If something is unclear, don’t hesitate to ask questions. Once all the documents have been signed and recorded, the house is officially yours.
Congratulations! Your preparation and determination have paid off. Welcome home!
