Process of House Buying and Selling

Process of House Buying and Selling

Member since 2019 · 6 posts · 10 votes

As a new investor, I have a question that's going to seem extremely basic but I've been having difficulty finding a reliable, comprehensive source - What exactly are all the steps in buying and selling a house?? I'm not talking about any of the investor related aspects, but literally how to get papers from someone else's name into my own, start to finish. I am currently looking through deals for my first purchase, but I'm looking for a good resource to refer to that can describe the proper steps and average timeframes in more specific detail than just providing a numbered list.

When do contracts get signed? When is legal review advisable? What is a reasonable timeframe to allow for inspection? etc. etc. Having all of these types of fine details and order of events understood before actually getting into it would be extremely helpful and would help for me to present more professionally. I would love your thoughts on good resources for this information! Thank you for the help!

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  • Member since 2019 · 3 posts · 1 vote
    6y

    Kristy, 

    I believe your first step should be finding a real estate agent in the area you are researching. From there they will work with you and aid you in narrowing your search for a property. 

    After you've found an ideal home, based on your needs, the real estate agent will (should) take the necessary steps in submitting your offer to the seller. 

  • Real Estate Agent · South Jersey · Member since 2017 · 252 posts · 143 votes
    6y

    I second @Bart Kilar ... It is a tremendous amount to put in writing, but finding a great agent for where you are looking is really the best way. Generally speaking the process isn't rocket science, however there are a million twists and turns depending on each unique situation. So find someone with great experience that you meld with and take the journey together. No agent has seen every scenario. It's like any profession - experience goes a long way. It's going to be a little scary - its a big step, but a great one. 

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