Understanding The Home Buying Process – How We Can Help You!

If you’re thinking about buying a home, and are looking at Lake Norman real estate or Mooresville real estate, you NEED to partner with a professional real estate agency right away.

Buying a home is a very complex process – and your home is likely the largest investment you’ll ever make. You can’t go it alone. You need someone on your side – and that’s exactly what we offer at NextHome World Class!

Looking for more information about the buying process? Here are the steps you’ll typically need to take in order to purchase Lake Norman real estate, or a home in Mooresville.


  1. Check Your Credit Report And Credit Score – Before you consider purchasing a home, you will need to check your credit score. You get one free copy of your credit report per year, and most credit cards offer free credit monitoring. Your score may vary between 300 and 850 – the higher the score, the better rates you’ll get on a loan. Check your credit report for errors, and see if you can raise your credit by paying off credit cards or loans before applying for a mortgage. This will help you secure a better rate.
  1. Figure Out A Budget, And See What You Can Afford – There are a number of helpful online calculators you can use to see the size of mortgage you can afford. We recommend the Bankrate calculator.Remember, you’ll want to factor in all of the costs of buying a home. This includes taxes, inspections, closing costs, agent fees, moving costs, remodeling costs, and other incidentals. Talk to one of our home loan experts if you’d like more information about budgeting and down payments.
  1. Find A Lender – And A Real Estate Agent – Typically, you’ll want to get pre-approved for a mortgage by a lender of your choice. It’s best to “shop around” and see the rates that several different banks will offer you. If you get pre-approved, you’ll have a much easier time closing on your home, and will have a clear idea of how much you can spend.You’ll also need to find a real estate agent to work with you. Ask friends and family for recommendations – or choose one of our highly-qualified team members!
  1. Start Looking For The Right Home – With your budget and pre-approval in hand, it’s time to start browsing! You can use our search tool that’s directly connected to the MLS, or work with one of our real estate agents to make a list of homes you’re interested in.Start touring your prospective homes, and see which ones you like the best. You don’t have to rush this process – buying a home is a big investment, so make sure you find a house that you know you’ll love for years and decades to come.
  1. Make An Offer, And Start Negotiating – Found your dream home? It’s time to make an offer. Usually, your real estate agent will help you make a competitive offer based on the list price of the home. You may get a counter-offer from the seller – and this is when negotiations will take place.Once you’ve arrived at a mutually beneficial price, you’ll make an “earnest” – a payment that goes into escrow to let the seller know that you’re serious about buying their home, and finalize the contract.
  1. Get The Right Mortgage For Your Situation – You can choose from fixed-rate, adjustable rate, and interest-only mortgages. A fixed-rate, 30-year mortgage is the most common, and best for most buyers. However, a shorter variable-rate mortgage may be better if you don’t plan on living in your home for long. Variable rate mortgages have low, fixed rates for 5-7 years – after this, the interest rate can fluctuate based on market conditions.Interest-only loans are uncommon. These loans let you buy a house and only pay interest – you won’t pay money towards the principal (loan amount). This reduces the cost of monthly payments, but you will never truly “own” your home. Ask your realtor what kind of loan is best for you.
  1. Close On Your Home – Make sure you get the home inspected before you close, and then set a closing date when the current owner will move out, and you can move in. You’ll have to pay closing costs including appraisal and title fees, down payments, attorney fees, inspection fees, and more – so be ready for this.
  1. Move In – You’ve got the keys, and you’ve got your new home! Congratulations. Start unpacking, and enjoy your investment.


 Address Search

Waterfront Properties

Browse All Areas

Cornelius Real Estate

Davidson Real Estate

Denver Real Estate

Huntersville Real Estate

Mooresville Real Estate

Statesville Real Estate

Troutman Real Estate

Buying & Selling Made Easy

Freshest Data Available
Active Listings Only
Customizable Search Options
New Listing Alerts
Instant Home Value Assessment