Preparation to house hunt:

o Decide on price range:

o Interview two or more lenders. Decide on one, plus a back-up.

o Make decisions about location:

o Monthly mortgage payment at current rate levels.

o Buying power in price range

o Before finding a house, identify three to five town features that are important

to you. Check those in relation to a neighborhood for every house you are

considering. (For example: supermarket, highway access, library, town square,

restaurants, parks…)

o Research schools, if applicable.

o Test-drive commute during rush hour.

o Prioritize house requirements. Make a list of your top three to five house features that

you are looking for.

o Assemble support team:

o Interview two or more attorneys. Find one or more.

o Interview two or more home inspectors. Find one or more.

Quick decision period:

When you find a house that you want to buy, review these:

o How does it rate on your three to five most important house features?

o How does the draft “to do” list match your expectations?

o How does it rate on your three to five town features?

o How are the schools, if applicable?

o How is the commute?

o Review and evaluate the Comparative Market Analysis (CMA).

o Choose a negotiation plan.

o Make an Offer.

If the Offer is accepted:

o Call inspectors quickly to get the best potential scheduling. Schedule inspection within a


o Review inspection results.

o Hire additional inspectors, or get contractor estimates, if applicable.

o Choose a renegotiation plan for after inspection.

o Sign a Purchase and Sales Agreement and make a 5 percent deposit on the house.

o Make a full application for your mortgage.

Preparation for closing:

o Complete any paperwork requests from your lender. Check that you have valid,

unexpired picture ID.

o Visit the house to get additional estimates, if applicable. Schedule workers for after


o Purchase homeowner’s insurance and get it approved by lender’s attorney.

o Change utility bills to your name as of closing date.

o Prepare to move.

o Prepare final deposits. Check with your bank about procedures to draw a large check. Or

check with you bank and the closing attorney to arrange a wire transfer. (This can take

up to a week, so plan ahead.)

o Schedule closing with lender’s attorney.

o Walk through the property immediately before closing.

o Attend closing.