The Home Buying process

Buying a home is one of the most important decisions you will ever make. It can be exciting, rewarding, and sometimes stressful. That’s why you need a trusted partner who can guide you through the process and help you achieve your goals. At Mosaic Real Estate, we are more than just a brokerage. 

At Mosaic Real Estate, we are more than just a brokerage. We are a community of experienced agents who care about our clients and their needs. Whether you are looking for a new construction, a resale, or an investment property, we have the expertise and the resources to help you find your dream home and guide you through the home buying process.

Step 1:
Choose an AGENT

The first step in the home-buying process is to choose an agent who can represent you and your interests. You want an agent who is knowledgeable, professional, and responsive. You also want an agent who listens to your needs, understands your budget, and has access to the latest market information and listings.

At Mosaic Real Estate, we have a team of agents who specialize in different areas and types of properties. You can browse our agent profiles on our website here and find the one who matches your criteria. You can also contact us and we will connect you with the best agent for your situation.

Step 2:
Get preapproved

Before you start looking for homes, you need to know how much you can afford and what kind of financing options are available to you. Getting preapproved for a mortgage is a smart move that will save you time and hassle later on. A preapproval letter shows sellers that you are a serious and qualified buyer who can secure a loan for the purchase price.

To get preapproved, you will need to provide some financial information to a lender, such as your income, assets, debts, and credit score. The lender will then review your information and determine how much they are willing to lend you and at what interest rate. You can compare different lenders and choose the one that offers you the best terms and service.

At Mosaic Real Estate, we work with some of the most reputable and reliable lenders in the industry. We can help you find the right lender for your needs and assist you with the preapproval process. We can also help you understand the different types of mortgages and how they affect your monthly payments and overall costs.

Step 3:
Create a Wishlist

Once you know how much you can spend on a home, you can start thinking about what kind of home you want and need. Creating a wish list can help you narrow down your options and focus on the properties that meet your criteria. Your wish list should include the following:

  • Location: The location of your home is one of the most important factors to consider. You want to choose a neighborhood that suits your lifestyle, preferences, and future plans. You should also consider the proximity to schools, work, shopping, entertainment, and transportation.
  • Size: The size of your home depends on how many people will live in it, how much space you need, and how much maintenance you are willing to do. You should also consider the number and layout of bedrooms, bathrooms, and other rooms.
  • Style: The style of your home reflects your personality and taste. You may prefer a traditional, modern, or eclectic style. You may also have a preference for a single-family home, a townhouse, a condo, or a co-op.
  • Features: The features of your home are the details that make it comfortable and functional. You may have a preference for a certain type of flooring, kitchen, appliances, fixtures, lighting, etc. You may also want to have some special features, such as a fireplace, a pool, a garage, a basement, etc.

Your wish list should include the features that are essential, desirable, and negotiable for you. You should also prioritize your wish list and be flexible and realistic about what you can find within your budget.

At Mosaic Real Estate, we can help you create and refine your wish list based on your needs and wants. We can also help you research the different neighborhoods and communities that match your criteria and show you the available listings that meet your expectations.

Step 4:
Go House Shopping

The fun part of the home buying process is shopping for homes. This is where you get to see the properties that interest you and compare them with your wish list. You can browse online listings on our website here and save the ones that catch your eye. You can also sign up for email alerts and get notified when new listings that match your criteria come on the market.

When you find a home that you want to see in person, you can contact your agent and schedule a showing. Your agent will accompany you to the showing and provide you with relevant information and feedback about the property. You can also ask your agent any questions you may have about the home, the neighborhood, the seller, or the market.

When you visit a home, you should pay attention to the following:

  • The condition of the home: You should look for any signs of damage, wear, or neglect that may affect the value or functionality of the home. You should also check the systems and appliances and see if they are in good working order.
  • The features of the home: You should compare the features of the home with your wish list and see if they meet your standards and expectations. You should also consider the potential of the home and see if you can make any improvements or changes that would suit your needs and taste.
  • The feel of the home: You should try to imagine yourself living in the home and see if it feels right for you. You should also consider the natural light, the views, the noise level, the privacy, and the security of the home.


When you shop for homes, you should take notes, pictures, or videos of the properties you visit. This will help you remember the details and compare them later. You should also keep an open mind and be ready to adjust your wish list as you see more homes.

At Mosaic Real Estate, we can help you shop for homes efficiently and effectively. We can arrange showings for you at your convenience and provide you with all the information and guidance you need to make an informed decision.

Step 5:
Make an offer

When you find a home that you love and want to buy, you need to make an offer to the seller. An offer is a formal proposal that shows how much you are willing to pay for the property and under what terms and conditions. Your offer should include the following:

  • The offer price: The offer price is the amount of money you are offering to pay for the property. It should be based on the market value of the home, the condition of the home, the demand and supply of similar homes, and your budget and goals. You should also consider the seller’s motivation and situation and how they may affect their willingness to negotiate.
  • The earnest money deposit: The earnest money deposit is a sum of money that you put down as a sign of good faith and commitment to the purchase. It is usually 1% to 3% of the offer price and is held in an escrow account until the closing. If the deal goes through, the deposit is applied to your down payment or closing costs. If the deal falls through, the deposit is returned to you, unless you breach the contract or waive your contingencies.
  • The contingencies: The contingencies are the conditions that must be met before the sale can be finalized. They are meant to protect you from any unforeseen issues or risks that may arise during the transaction. The most common contingencies are the financing contingency, the inspection contingency, and the appraisal contingency. These contingencies allow you to back out of the deal and get your deposit back if you cannot secure a loan, if the home has major defects, or if the home is appraised for less than the offer price.
  • The closing date: The closing date is the date when the ownership of the property is transferred from the seller to the buyer. It is usually 30 to 60 days after the offer is accepted, depending on the contingencies and the lender’s requirements. The closing date should be mutually agreed upon by both parties and should allow enough time for all the necessary steps and paperwork to be completed.

When you make an offer, you should also include a preapproval letter from your lender and a personal letter to the seller. A preapproval letter shows that you are a qualified and serious buyer who can obtain a mortgage for the purchase price. A personal letter shows that you are a genuine and respectful buyer who appreciates the home and the seller. These letters can help you stand out from other buyers and increase your chances of getting your offer accepted.

At Mosaic Real Estate, we can help you make a strong and competitive offer that reflects your best interests and goals. We can help you determine the right offer price and terms, prepare and submit the offer documents, and negotiate with the seller and their agent on your behalf.

Step 6:
Get a home Inspection

Once your offer is accepted, you need to get a home inspection. A home inspection is a thorough examination of the physical condition and structure of the home by a licensed and qualified inspector. This is an important part of the home buying process as the inspector will check the systems, components, and features of the home and identify any defects, damages, or potential problems that may affect the value or safety of the home.

A home inspection usually costs between $300 and $500, depending on the size and age of the home. It is usually paid by the buyer and is performed within 10 to 15 days after the offer is accepted. The buyer and their agent can attend the inspection and ask the inspector any questions they may have about the home.

After the inspection, the inspector will provide a detailed report.

Step 7:
Negotiate Repairs or credits

After you receive the home inspection report, you need to review it carefully and decide if there are any issues that need to be addressed by the seller. You may request the seller to make repairs, provide credits, or reduce the price to compensate for the defects or damages. You may also accept the home as is or walk away from the deal if the issues are too serious or costly.

To negotiate repairs or credits, you need to submit a repair request to the seller and their agent. The repair request should include the items that you want the seller to fix or pay for, along with the estimated costs and supporting documents, such as the inspection report, photos, or quotes. The seller can either accept, reject, or counter your request.

At Mosaic Real Estate, we can help you negotiate repairs or credits with the seller and their agent. We can help you prioritize the most important and reasonable issues, prepare and submit the repair request, and communicate and compromise with the seller until you reach an agreement.

Step 8:
Get a home appraisal

The next step in the home-buying process is to get a home appraisal. A home appraisal is an objective and professional assessment of the market value of the home by a licensed and qualified appraiser. The appraiser will visit the home and evaluate its condition, size, features, and location. The appraiser will also compare the home with similar homes that have recently sold in the area and adjust the value accordingly.

A home appraisal usually costs between $400 and $600, depending on the size and type of the home. It is usually paid by the buyer and is ordered by the lender as part of the loan approval process. The appraisal is performed within 10 to 15 days after the offer is accepted. The buyer and their agent do not need to attend the appraisal, but they can provide the appraiser with any relevant information or documents that may affect the value of the home.

The purpose of the home appraisal is to ensure that the home is worth the amount of money that you are borrowing from the lender. If the home is appraised for more than the offer price, you have instant equity and nothing to worry about. If the home is appraised for less than the offer price, you have a problem and need to find a solution.

At Mosaic Real Estate, we can help you deal with a low appraisal and find the best option for your situation. We can help you challenge the appraisal, renegotiate the price, make up the difference, or cancel the contract.

Step 9:
Close The deal

The final step in the home-buying process is to close the deal. The closing is the meeting where the ownership of the property is officially transferred from the seller to the buyer. The closing usually takes place at the title company or the attorney’s office and involves the buyer, the seller, their agents, the lender, the title company or the attorney, and the escrow agent.

At the closing, you will need to sign a lot of documents, such as the deed, the mortgage, the promissory note, the closing disclosure, and the settlement statement. You will also need to pay the closing costs, which are the fees and expenses associated with the transaction. The closing costs typically range from 2% to 5% of the loan amount and include the appraisal fee, the title insurance, the origination fee, the recording fee, the transfer tax, the escrow fee, and the prepaid items, such as the property taxes and the homeowners insurance.

After you sign the documents and pay the closing costs, you will receive the keys to your new home and become the proud owner of the property. Congratulations, you have just bought a home with Mosaic Real Estate!

At Mosaic Real Estate, we can help you close the deal smoothly and successfully. We can help you prepare for the closing, review the documents and the numbers, and answer any questions you may have. We can also celebrate with you and welcome you to our community.

We hope this page has given you a clear and comprehensive overview of the home-buying process with Mosaic Real Estate. If you have any questions or comments, please feel free to contact us. We would love to hear from you and help you with your home-buying journey. Thank you for choosing Mosaic Real Estate!

Step 10: Move Into Your New Home

LOOKING TO SELL YOUR CURRENT HOME TO BUY A NEW ONE?

Check out our article on the Home Selling Process

Home Selling Process

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