Steps to Buying a Home

Everyone dreams of owning their own home. Searching for the perfect home for your family can be a very exciting, yet anxiety-filled experience. However, if you know what to expect during the home buying process you will be more relaxed and comfortable knowing that we will be by your side every step of the way guiding you through it and looking out for your best interests. Below are the steps to buying to help you visualize what this process looks like. Don’t hesitate to call us if you have any questions and remember we will be there for you every step of the way!

STEP 1: DETERMINE HOW MUCH YOU CAN AFFORD

Before the house hunting process begins, it is important to know how much you can afford. Expenses to consider include the down payment, monthly expenses, property taxes, and any home insurance costs. These will all have to be considered before the home buying process begins as they are typically included in your new monthly payment. Since a person’s credit score determines their interest rate, knowing your score ahead of time can help you decide if now is a good time to buy or not. An individual’s debt-to-income ratio must also fall within acceptable limits of the home’s cost. Once you have determined these things, and if you feel that your budget has enough room to afford a new home, then it’s time to look for the right loan.

STEP 2: GET PRE-APPROVED

Different banks and companies will offer different loan origination fees and by shopping around you can oftentimes save yourself a lot of money. Get multiple quotes so you can make sure you get the best rate and terms. Be sure to also check your loan officer’s website for testimonials and information. A good loan officer will offer you many online resources and tools. Before you lock in your rate, be sure to check the daily rate with the rate your loan officer gives you to ensure you are getting the lowest rate possible. Interest rates will determine how much a mortgage will cost each month and come in fixed or adjustable terms. Mortgage lengths can range from 15 years to 30 years. The longer the repayment term, the lower the payments will be. However, the interest accrued will also be higher on a longer loan. Don’t forget to ask for a pre-approval letter so you can include this with any offers you make.

STEP 3: FIND A REALTOR®

Before you start your home search, it is important to find a buyer’s agent that will be looking out for your best interests so you don’t fall into a money pit or end up paying too much for your new home. A good buyer’s agent will help guide you through the home buying process and can also save you TONS of time and money on the road to your new home. Buyer’s agents are legally bound to help buyers, whereas listing agents—the real estate agent representing the home listing—have a fiduciary duty to the home seller. Your buyer’s agent will also set up home tours, give you insight on any homes you like that you may not be aware of, have knowledge of upcoming listings not yet on the market, help you negotiate the best terms, protect your part in the deal, and give you invaluable advice throughout the process.

STEP 4: START SEARCHING

Start your home search by using your agent’s website (like this one!) to search the MLS for homes. Agents have a direct line to the MLS, so their websites often update with the newest properties faster than the ‘big name’ sites out there. It also has a My Listing Manager tool that keeps you both in the loop. You can start your search and begin saving your favorite properties to your account and even set up alerts to get new homes and price changes emailed to you. Your agent can then see the properties you have liked and can send potential new properties directly into your listing manager that they think you may be interested in. It’s a WIN-WIN!

STEP 5: MAKE AN OFFER & NEGOTIATE

There is an art to making an offer on a home. Your buyer’s agent will help you choose the right terms for your offer and will be watching for signs of problems in the home. Listen closely and be sure to ask questions. Be sure to ask for an inspection contingency so if there are major problems, you can back out of the deal without losing your earnest money. A home warranty is also a valuable part of your contract and is a sign of good faith on the seller’s part. You want to make sure all of your bases are covered. That’s where having a buyer’s agent is most valuable: so your rights and interests are protected. With their experience on your side, they will be able to help you negotiate a lower price that sometimes includes concessions or closing costs. Their job is to protect YOU in the contract.

STEP 6: HOME INSPECTIONS & APPRAISAL

Once your offer has been accepted, you will need a home appraisal. Banks require this so they can make sure the home is worth as much money as they are lending you. You may also need some inspections depending on your loan type. FHA and VA loans have more requirements than conventional loans. This is also the time to have a full home inspection, even if it is not required. A home inspector will go through the home and specifically look for problems and provide you with a full report on everything they find. This will give you the opportunity to avoid major problems and back out of the sale or negotiate repairs without losing your earnest money.

STEP 7: ASK FOR REPAIRS OR DISCOUNTS

Once the inspections are done, you will more than likely ask the seller to fix some of the issues you found. Keep in mind that they are only required to fix something if the loan terms require it. Be reasonable but firm in your requests. If your seller rejects your request, then it is up to you to decide how to proceed.

STEP 8: FINAL WALK-THROUGH

The final walk-through is an important last step, even if you are positive you are going to go through with the sale. Walk through and check the agreed upon repairs, make sure everything is in working order and new issues have not popped up. This is your last opportunity to back out. If everything looks good, then it’s time to go to closing!

STEP 9: CLOSING & ESCROW

Before the home is legally transferred to you, the closing process must occur. During this phase, you will sign all of the mortgage documents, pay closing costs, and sign various other legal documents. Your buyer’s agent will be at the closing with you to help you through it all. Once all of the papers are signed and monies are transferred, the keys to your new home are yours! The only thing left to do is move into your humble abode. This may occur immediately after the closing or at the date set in the closing documents.

STEP 10: MOVE IN

Depending on how far you’re moving or how much stuff you have, you may require a moving company or a moving truck. Professional movers may seem pricey at first, but when you look at the time and money to get similar results, you may re-consider. Call and set your moving date and start packing! Many places like U-HAUL sell moving boxes that are made to make your move easier. Label everything with what is inside it and what room it goes in. Recruit friends and family if needed.

Bonus Buyer Tips

TIP #1

Buy when the market is low and in the season (when moving is the most common for your area).

TIP #2

Ask for a home warranty to cover any major problems that might pop up after the sale, like broken appliances or home systems.

TIP #3

Plan ahead by researching local movers and asking how much time in advance they need to be notified and how booked up they are now.

TIP #4

Start packing early. Pack away things you can live without and label boxes with what is inside and what room they go in.

See What Our Clients are Saying:

I was looking for a home and needed more information about USDA homes. I googled USDA homes and his firm popped up. I took a look around and was amazed at all of the in-depth information. I decided to email him and he responded quickly. He answered all of my questions and even went above and beyond obtaining the information that I needed. I was so impressed at his responsiveness and his willingness to help me. No other agent that I reached out to was able to provide me the level of detail he provided – down to the month and date of the information that I needed. When I begin my second home search in the fall, his firm will be the first one I reach out to. Thank you Mr. Pruit!

SA R.

My husband and I were looking to relocate from New Jersey, we were recommended to Derhyl. From day one, Derhyl was professional, attentive, courteous and just awesome to work with. He had patience with us, recognized and appreciated our need and desire and patiently showed us around until we found the home we wanted. When things did not go quite as expected, Derhyl quickly found another way to get it done. You will not be disappointed.

Evelyn F.

Gregory Currie was really awesome to work with in helping me find a home for me and my mom. His enthusiasm and kindness was very appreciated. He showed me each house until I found the perfect one. I thank God for the Pruitt Miller Realty team. Great job.

Phyllis H.

Had an amazing experience with Derhyl at the Pruitt Miller Realty Group. He was very attentive and responsive to our needs. Extremely informative and protective of our needs as well. I also appreciated how he would direct us away from possible sales that were not in our best interest. Derhyl is very knowledgeable and familiar with the area, and would find the best fit for his clients. Grateful for his honesty and willingness to be straightforward! Highly recommend!!

Lonzo C.

If I could give more than 5 stars I would. Derhyl was very professional throughout the entire home buying process. He kept my wife and I up to date with everything and most importantly kept us informed with things we didn’t understand as first time homebuyers. You can really tell he has tons of experience behind him. What my wife and I loved most about him is that we always felt like he cared about us and was on our side. 11/10 definitely recommend especially to first time home buyers!

Antonio A.

We can’t thank you enough for assisting us with our new home purchase. Your professionalism is second to none! So glad to have you on our side.

Barry & Dolores G.

My fiancé and I loved working with Pruitt Miller Realty Group. Everyone was professional and very knowledgeable. As first time home buyers, we did not know much but Derhyl was so helpful throughout the entire process.

Camilla L.

Derhyl is a PRO! He is not only personable and helpful but a master at what he does! He was able to get us the perfect home and negotiated and helped walk us through the process during every step! Would recommend him 100 percent!!!

Tanner D.

Derhyl did an awesome job. He listened to our needs and concerns and helped us wade through the house buying process. After a few weeks of seeing homes and talking throughout the process, we ended up finding the perfect deal that we couldn’t pass up. Derhyl helped us negotiate all the key details and we closed on our home in November. We’ve been very happy with our purchase and would recommend him to anyone.

Mr & Mrs S.

Derhyl and his team were absolutely phenomenal! Because of our situation and goals we were probably more difficult to work with than the average client. Regardless, Derhyl and his team not only got us into our dream home but we’re amazing professionals along the way. I’ve personally recommended him to 15+ friends looking for their first home. Don’t waste your time anywhere else!

 

Michael P.

I worked with Derhyl Pruitt to purchase my home. I experienced absolutely excellent service. He was there at every step and was always available to help. He was incredibly knowledgeable and was able to guide me through every step of building my new home. I would 100% recommend him and his team to any of my family and friends looking to buy a new home.

Kali K.

Thanks for your detailed input. I really do appreciate all the knowledge and insight you have to offer. I cannot stress enough how helpful you have been through everything and how grateful I am for it!

Alyssa B.

Derhyl, Thanks again for helping make the search for a new home a lot easier and for helping to guide us in the right direction. God bless you and your family.

The C. Family

Thank you for working so diligently with me in finding a new home. Your positive attitude and patience was such an asset. You were very thorough in explaining the details of each home and offered much needed advice about the designs of each home. You were very helpful to me during the entire process of purchasing my home.

Edward B.

Thank you so much for your professionalism and patience during our journey to home ownership. I will definitely refer your services to others seeking to buy or sell a home.

Alisa K.

Emailing you to say “Thank You” for all your help with finding my first home. You have a lot of good qualities. The one I like the most is that you listen. You never made me feel like I didn’t know what I was talking about and 90% of the time I didn’t, but you listened. I pray that God continues to Bless you and your family.

Delores S.

Thanks for your assistance in helping our families become homeowners. The families appreciated your patience and professionalism while working with you, and felt you had their interest at heart. They are doing fine, and asked that I thank you again on their behalf. I appreciate your teaching and explaining how to successfully navigate through the process of finding a home as you worked with each family.

The Staff of the Charlotte Housing Authority appreciates the extra effort you took with each family, and in helping us meet our goals and tasks by the targeted deadline.

Thanks for your cooperation and hope to work with you in the future.

Case Manager – Charlotte Housing Authority

Charlotte Housing Authority

I just wanted to let you know how much Donte and I really appreciate all of the assistance you provided during the search of our first home. We could not have asked for a more professional, knowledgeable, honest, and patient Realtor.

Although we were faced with a few obstacles we sincerely appreciate the fact that you stuck by us and looked out for our best interest in every aspect! We will definitely keep you in mind to refer to friends and family, not to mention for us, when we are ready to purchase our next home!! I feel confident that we have the perfect place to begin our life, and we could not have done that without you! Thanks Derhyl.

Donte & Shonte B.

Derhyl: FYI… just to let you know, when I buy my next investment property, you will be my agent! You represent in a fair and honest way and I like that!!!

Trena M.

We are writing to you to convey our deep appreciation for all the help you gave us during the time we were in the process of purchasing our new home in the Charlotte area. Your knowledge of the Charlotte housing market combined with your good advice eventually convinced us to move to Charlotte NC from Torrance CA. It could not have been possible for us to make such a move if it was not for your strong participation in, and support for, the search for our future home. We like our new home so much and also the neighbourhood we are in is also growing. You couldn’t have helped us more than what you did, keep up the good job and once again thank you.

Henry and Rachel K.

A gentleman will be contacting you (if he hasn’t already) although I am not sure of his name. He works on Perry’s job. I gave him your number and advised how good and diligent you have been with us in the home buying process and also that you could advise him of the different agencies he can go through to obtain his House Charlotte certificate instead of putting out the $60 like I did.

I know we are not done yet, but we just want to thank you for your patience and diligence. We have come across a few potholes in the road but you managed to get them filled and kept moving. You had our back and stood stong in the process from the very beginning with the Valley Ridge house. My family and I will forever be in debted to you. Anyone looking for a home, I will be sure to send them your way! Thanks so much…you dont know how much you made a difference in our lives!

Cathy S.

We just wanted you to know that we really appreciated ALL of your assistance, support, and expertise. Purchasing our first home was a little NERVE-RACKING, and it was great to know you were in our corner representing and guiding us through the way! We will gladly recommend your services to anyone we know who is looking for a home (or selling)! And we will call you for house #2 in about 7 years!

Jeremy and Shannon M.

I just wanted to take the time and thank you for providing great information about the homebuying process. I’m a friend of Kathreen and she introduced me to you at your seminar this past Saturday. I’ve tried in the past to look into buying a home and speaking with various people about the process. One thing I’ve noticed about other realtors is that they were so quick to tell me that I could get into a home with no problem when realistically speaking, I knew I couldn’t because of my credit. I guess they felt that telling me what I wanted to hear would get my hopes up and I’ll admit in the beginning it did. You’re actually the first person who gave it to me straight and nothing was sugar coated and for that I really appreciate it very much. Now I’m more motivated than ever to begin doing what needs to be done and taking the necessary steps to get into my dream home. I’ve received your emails providing me additional resources for credit counseling, homebuyer education etc. Thank you again!

S.R.

I will be sending some folks your way. Thanks for giving back to those who need it most. You and your team are already a blessing to many who feel that home ownership is out of their grasp. Cudos!!!!

M.D.

Melissa and I just wanted to say “thank you” for everything you’ve done. Your expertise and professionalism was greatly appreciated. In spite of the less than stellar performance of our builder (for which you share absolutely no blame), we could always count on your proficiency on the business end. We really are grateful for all of your assistance. Should anyone ask us for a realtor reference, rest assure you’ll be highly recommended.

Tony & Melissa

Thank you so much for putting us on the right path to home ownership and sticking with us through the process.

Montae & Bettye

“Thank You” is such a minor thing to say for all you did to make my Charlotte transition smooth. Your insight and knowledge of the housing market of Charlotte proved to be invaluable. Your phone interview made our first meeting very productive. I appreciate you steering me in the right direction of neighborhoods with consistent home value appreciation.

The time limit I gave you; I am sure would have been overwhelming to an unseasoned professional but you rose to the occasion and made it happen. For every stumbling block, you created a way of escape. You never failed to communicate with me even when it seemed impossible to find me. When it comes to Realtor referrals, your name is the only one I know. It was a great experience working with you.

Beryl P.

Bea and I just wanted to drop you a line and “thank you” for the outstanding service you provided us in selecting our home. As you know, building a home is an onerous task and without your knowledge, professionalism, patience and dedication I can assure you that Bea and I would not have been able to get through it! Your commitment to us made us feel like we were special and for that, we truly thank you. I also appreciate the attention you gave to my mom. As you know she can be a handful but you and your fantastic associate, Trena Miller made this experience wonderful for her as well.

We are now settled in and still marvel at the services you still provide to us! As newcomers to the area you and Trena were on the mark in getting us some of the necessary services so that we could enjoy our lovely home. We no longer consider you just our Realtor but a “friend” and we look forward to a long friendship with you and your family. As my friends from up north start to plan their retirements to this area I certainly will be advising them of the “Best Realtor In Charlotte.” Take care!

Richard & Bea B.

Marshall and I are so grateful for all you have done to assist us in selecting and purchasing our new home. I will always remember the first time we spoke. We were calling from New York and feeling somewhat apprehensive about moving to a place we had never been. You were so informative and patient in answering our many, many questions. When we finally met three months later, I immediately felt confident that we had made the right choice in selecting you as our Broker. I appreciate your commitment to setting us on the right course to make the right decisions, and you were an excellent resource for information and always gave time for those after-hour phone calls! You set the standard for excellence and professionalism.

What really makes you outstanding as a person is your generosity. I am always telling people how you made our Christmas so special. When we learned that our closing date was December 27, it meant we had to leave our family sooner than planned and that we would not be spending the holidays together. Not knowing anyone in North Carolina we were to spend Christmas in the hotel. Derhyl, you said absolutely not. You extended an invitation to your home for dinner and to meet your family. We had a wonderful time and started many new relationships. I will never forget your kindness, commitment and dedication to ensuring that we received only the best quality services. You have helped us to begin a new life in NC with ease and comfort. We are so glad we know you. God Bless You and your family.

Linda and Marshall S.

From the initial meeting through the closing process, I was treated extremely well and everyone involved exhibited amazing expertise. I was particularly appreciative of the way Mr. Pruitt prepared me for one of the most important investments I have made in my life. This was my first home purchase and I am more than grateful to have had The Pruitt Group represent my interests. I was involved with another real estate firm and after an extremely unsatifactory experience, I turned to Derhyl Pruitt and he and his agency were impeccable. I highly recommend The Pruitt Group to any prospective home buyers or sellers, you will not be disappointed and your best interest will always be the priority.

D.C.

You have served us in an extraordinary fashion. I have never encountered a person so dedicated to good service and with helping us with this very difficult transaction. You have earned tremendous respect from all of us.

Darryl K.

I couldn’t recommend a Realtor more highly than Derhyl Pruitt. He was professional and knowledgeable from the start. He was patient as well as honest and straightforward. He really listened to my concerns. He’s just very good at what he does. I just wish that I had met him when I bought the house!

Diane H.

Derhyl was a fantastic resource for us. As first time home buyers, he made it easy to understand what to look for and what to focus on. His local knowledge of Charlotte, even with all the changes in this city, were a great added value for our decision making. Our favorite aspect of working with Derhyl is that he never forced us into a decision. He gave us pro’s and con’s on all properties as well as detailed ratings for us to review. We never felt pressure to make a decision in the spot but had all the info we needed if it was necessary. Derhyl would respond to us at all hours of the day. We even made our final decisions and offer on a Saturday night around 8pm. His dedication to the client is clear. We got everything we could have asked for working with Derhyl. We recommend Derhyl strongly to anyone in the Charlotte area.

Jamison O.

If I could give more than 5 stars I would. Derhyl was very professional throughout the entire home buying process. He kept my wife and I up to date with everything and most importantly kept us informed with things we didn’t understand as first time homebuyers. You can really tell he has tons of experience behind him. What my wife and I loved most about him is that we always felt like he cared about us and was on our side. We definitely recommend especially to first time home buyers!

Antonio A.