CHAPTER 2 The 12 Steps To Home Ownership o Home Ownership “I will forever believe that buying a home is a great investment. Why? Because you can’t live in a stock certificate. You can’t live in a mutual fund.” – Oprah Winfrey Finding the right home is one major component of homeownership. Searching for and buying a home involves a process that includes many steps and pieces that need to come together before the home is “yours,” you make the move, and settle in. This chapter provides an overview of the home-buying process, breaking it down into 12 basic steps that will make the process clear, rewarding and less anxiety-provoking.
THE 12 STEPS TO HOME OWNERSHIP
1. Find Out What You Can Afford 2. Get Pre-Approved for a Loan 3. Create a List of Needs vs. Wants 4. Choose a Location 5. Engage a Real Estate Attorney 6. Engage a Buyer's Real Estate Agent 7. Choose a Home Type 8. Go Home Shopping 9. Make an Offer 10. Put Money in Escrow 11. Negotiate with the Seller 12. Close the Loan and Receive the Keys
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