The Home Buying Process

The first step is to get pre-approved for a loan through a bank of mortgage company. This allows you to set a price range for the homes for which you will be looking. Your REALTOR® will then find homes that meet the criteria you are looking for in your Indiana home and fall within or near your price range. The realty company will then place an offer for you at the price you think you would be willing to pay.

At this point, the offer will be accepted or countered with a different offer by the seller. Offers and counter offers continue until the buyer and seller agree upon a price. The smart thing to do is to schedule an inspection right after a price is decided. An inspection costs money upfront but can help you avoid buying a home that will require thousands of dollars to repair defects that already exist when purchased. On all offers to purchase, most REALTORS® make any agreement to pay contingent on the outcome of an inspection.

If all goes well, the next step is closing. Henry Realty is always there to support you through this. Closing dates are set by the REALTOR® listing the home. The average timeframe for closing in Northeast Indiana is about 30 days out. If a buyer need to get in their new home quickly, negotiating a prompt closing date can be arranged in many cases. Remember, in Fort Wayne and surrounding areas buyers will be expected to pay closing costs during this closing time. Buyers can put in offers to purchase homes that include the seller paying for the buyers closing costs, but this doesn't happen automatically. If the seller hasn't offered to pay the costs then the buyer is responsible for them.