Basic Step by Step Process of Purchasing a Home

Let me start off by saying, I did not end up purchasing the home. It was an experience to be had. Many ups and downs. Excitements and frustrations. Confidence and uncertainty. All in the long period of 14 days.

Here's the list of things that I didn't realize happens when purchasing a home. These are in order in which you should follow

1. Get a pre-approval from a lender (People recommend at least 3 places for best price)
   1. I found it works if you get to the approval phase as they will give you hard numbers. Maybe get 3 pre-approval and when you're ready to purchase, start negotiating(?)
2. Research home
   1. Now you know how much home you can afford so narrow down.
3. Find a home and visit the location with an agent
   1. Buyers agent will generally show you homes
   2. You don't need an agent but life should be easier with one. If you don't get an agent, mention you want a discount because there isn't a buyers agent fee.
4. Make an offer
   1. The offer should be low enough that you're able to pay for all the renovations you need.
   2. If you don't feel comfortable estimating renovation cost, then you should get bids from contractors before making an offer.
   3. You should also start creating a list of contractors you will use for inspections / rehab
5. Offer was accepted
   1. Get an check for escrow
   2. Submit all paperwork
   3. Setup contractors to come make a bid on repairs
6. Setup inspection
   1. An Home Inspector saved my butt. There was at least $8000 worth of termite damage that I did not catch walking with my realtor or general contractors
   2. I would also set up inspector for electrical, plumbing, hvac, general contractor
7. To Be Continued 
   1. At this point, after the inspection I've asked the bank for a $6000 concession based on unknown damage, and they terminated the contract.

Hope you enjoyed it.