Congratulations! You are doing what most home shoppers don't do, educating yourself! This is the best way to both feel comfortable with the process of buying a home and to learn mistakes to avoid and key tips to be successful. Getting educated is the key in almost anything that you do. Most people don't take the time and end up having a bed experience because of it.
Let's get started. The first thing we will do is just outline the normal process of buying a home from start to finish, then we will go into more detail and explain what the process is and tips to be successful.
- Select a Real Estate Agent to work with
- Get clear on what your goals and time frames are
- line up your financing so you know how much you have to spend
- Get the tools and information you need to start your home search
- Preview homes with your Realtor
- Narrow down your search and get in tune with your Realtor
- When you find a home you like write an offer
- Negotiate and counteroffer until your offer is excepted
- Get with your agent and arrange your Home Inspection
- Get all Financing requirements to the Lender
- Negotiate any repairs or final items desired
- Get Homeowners Insurance
- If everything is resolved in the Home Inspection order the Appraisal
- Coordinate the final walk through with your Realtor
- Sign final documents at the closer
- Take possession of your home
 The first thing to do is to select a real estate agent to work with. This is one of the biggest mistakes people make when buying a home. Many people don't want to bother someone so they start looking without a Realtor, or they don't want to be rushed into doing something so they don't use a Realtor. The main problem with this is that what ends up happening is people find something they like and then grab a Realtor at the last second not knowing them or how good or bad they are and it ends up costing them in the transaction. There is a big difference in Realtors and their level of expertise when it comes to contracts and negotiations. People think the Realtor just helps them find the home so the figure they found it themselves and it doesn't matter who they use after that. This is a big problem. A good Realtor can overcome many of the problems that come up in a transaction. Most transactions have some trouble and an inexperienced Realtor will not know how to handle them and you can lose the house. The other danger is they let the agent who represents the seller work with both sides. This is another big mistake. You need to have your own real estate agent and you need to get to know them and they need to get to know you way before you find the home you want. The final reason is that they will guide you and give you the tools to make sure you don't just find a home you like, but that you have seen enough homes to know that that is the best home on the market that fits your needs. Good Realtors will be patient and have tools to ensure you get the most out of your home purchase.
 Second, Once you have selected a real estate agent, you need to meet with them and be honest and clear about why your looking to buy a home, what you want, and what you expect as far as communication and such from your agent. Some people don't want to be bothered unless the perfect home comes along and others want to be talked to almost every day. Your Realtor won't know unless you tell them. Remember, you're working together on a complex transaction so you need to be on the same page and working well together. things can get stressful and it's easier to get through it if you have a good working relationship. You also need to listen to your Realtor because they do this for a living and sometimes people think they know better or are upset about something because their expectation is not realistic. You have to trust your Realtor both knows what they are doing and will make the right choices for you. This is why you need to pick the right one. If you don't communicate with your agent they can't help you. Let them know if you change your mind. I have seen people tell their agent they have to have a fireplace, then they buy a house without their Realtor that doesn't have a fireplace but they never told their Realtor who could have shown them homes without a fireplace but they really didn't need a fireplace. If your not seeing the homes you want change your criteria with the Realtor so they can show you more homes.
 Third, Get your financing lined up. Many people don't do this and then wonder why they don't get the house when other offers have a pre-approval from the bank on top of their offer. The key is to not make the same mistakes of others, you shouldn't because your getting educated. Many people go looking for what they want, not what they can afford. Then when they find out how much fits their payment they don't like the homes in that price range because they have been looking at higher priced homes. This causes them to look and look and not like what they see because their expectations are not realistic and they think the homes are not good enough. This makes it very hard to help these people. Getting pre-approved first ensures you see what you can afford and are excited about the homes your agent is showing you. Making sure you get the best homes in those price ranges. In addition you will have the letter that shows sellers your offer is ready to go.
Fourth, Once you are clear on what your looking for and have your price range established you need cutting edge tools that can get you information on all of  the homes for sale and get you the information quickly. The goal is to have tools that allow you to track and rate what you have seen. Not all agents use the same tools. We have developed tools that allow you to not only have your own control interface to see homes from all the public Spokane MLS homes for sale, you can track your favorites and make notes and I can see what you are looking at. It's both a communication tool for people with busy schedules and a home finding tool with maps, neighborhood info, and much more. What home finding and communication tools a Realtor has should be asked when selecting an agent. Once your set up your ready to start the Home Buying Process Right!
Fifth, Now it's time to start looking at homes. All these steps build on each other because now you picked an expert to help you, then you got your pre-approval and know what your looking for, then you got set up with the tools and are ready to get into your first set of homes with your professional. This is where their expertise will help you know what you really want. Many people start with what they think they want until they realize other factors, like say a first time home buyer likes older victorian homes but then after they get in some of them they realize their isn't very big bathrooms and that is also important. So they may decide to go with a newer home. Certain year of homes have a certain type of floor plans so sometimes you won't know until you get in some. Your Realtor will also help you understand what homes are good investments so you get top dollar when you sell. Many people may not do this but this is a service I provide to our clients. I want them to be set up to make money when they upgrade, even if they don't think they will sell in the future, things change and we know most first time home buyers will change homes within 3 years so we have to look out for their resale values also. Once you have viewed homes with your Realtor, They can search homes for you while your at work because they know what you like and dislike, so you don't waste your time looking at homes you won't want. This also is an additional service not all Realtors do.
Sixth, Now this fine tuning will help you look at less homes but the homes you do look at will probably be better matched to what you want. There is no use in looking at homes in worse shape than ones you have rejected before. This is a tough time for shopping because in the beginning you see a lot of homes then it seems there is lees to look at. This is actually true, you have looked a a lot of homes so you can not only find a home but get to know what is out there for the money. Say you want a 2 car garage, but you look at 10 homes and only 1 has a 2 car garage. You then know it is not likely in that price range to find a 2 car garage so if you find one even if it doesn't meet all your needs you may have to sacrifice some things for others until you find the best one in your price range. Many people don't know when they aren't going to get all they want for the price they are willing to pay. You have to pay attention to what you have seen. It usually works that to get one thing, you may have to give up another unless your expectations are reasonable, but most shoppers want more than what they can afford. Don't be afraid to ask your Realtor after you've looked at some homes if your expectations are still reasonable.
 Seventh, Next is you write the offer. Don't be afraid to write an offer once you find the right home. If it's a great deal to you and the best you have seen then it's a great deal to everyone else and you might want to move on it right away. Sometimes people finally find what they want and want to think about it, then it sells and they have to start over. If you expectations or needs are not realistic you can't afford to wait when you find it. Say you need a shop and only 1 in 20 homes has one. if it took you a month to find one remember if you wait and lose it you may be waiting another month. That being said don't ever buy a home your not sure about, but this is why if you established a relationship and did your looking and communication with your Realtor you will know when it's right. If not you may find yourself pushed into something by someone you just met. Pick your Realtor first and then you'll be confident and educated when opportunity arises. How you right the contracts even if they are the same contracts as others are using there can be a big difference depending on how you right it and the expertise of the agent. Not all agents have the same understanding of the contracts or know the mechanics of why you would want to fill it out or word it a certain way. The ramifications of the contract can make a huge impact on you. There is strategies in how you write your offer. This again is why you need to have a agent who you have got to know to see if they are experts before your writing contracts. A good agent should walk you through the contract and help you understand the pros and cons of each section. A well written offer gives you options and constrains the options of the other party.
 Eighth, Negotiating and counteroffers are another key time and very fragile negotiations can be the difference between getting the house and not getting it. Rude or inexperienced agent can cause friction that makes the other party less likely to work with you. It's a double edged sword, you want to get what you can without upsetting the other party.
Ninth, once you have a signed around deal and both parties come to an agreement you can start to schedule the inspection. You should always have a whole house inspection. What many people don't realize is there is a big difference from one inspector and another. Again your agent has probably used a variety of inspectors and can recommend someone. Don't pick on price alone. The cheapest aren't worth anything if they miss everything. Like a Realtor their are a lot of choices but not everyone is a professional and an expert. Remember why you are hiring them. One thing many people don't realize is they cannot do discovery. This means they can only comment on what they see, they can't take things apart. Most have a checklist and they are not experts in every aspect. This means they are not electricians, they may see an issue and recommend you have an electrician come out. Most people think they will inspect the whole house and know any problem, but the truth is they will check most major components and can only tell you a limited amount of things. Usually this is enough but if your concerned about an issue have a professional specialist come out on top of the home inspection. The inspector will probably catch the major things but to diagnose it you may need a professional in that field. Now once you have the report you can go over it with the Realtor. The seller doesn't have to fix anything, but if you ask for something to be fixed that was found faulty and they don't do it, you can back out of the deal and get your earnest money if your request was made in the window allowed in your contract for inspection. If you miss the date you are buying as is. Your Realtor should make you aware of the time frames. You may ask them to fix items found defective but don't overdue it. It may upset them and that can come back to bite you if you can't perform or need more time to close. Again this is why having the right personality in the negotiations is key. Your agent can make a big difference in the success of your transaction. This is also the last chance for negotiations really.
Tenth, Now you need to get with the lender to get them all the documents they need for the file. Don't get frustrated when they keep asking for more information. They are just the middleman and the Wholesale bank that is actually giving you the money has people reviewing your file and deciding if they want more information up until the end. This can be frustrating because you seem to give them what they ask for and then they ask for something else. There is no way around it. They don't know you, they only know your file and your information is getting the loan not you. So if they need more get it to them and get it to them quickly so they don't hold up the transaction and mess up all the closing dates. This can happen and make people mad in the end when things have to get extended. This is usually between you and the lender so don't just wait to be asked for things, call the lender not your Realtor and constantly ask your lender if there are any new requirements they need from you. This is your responsibility so don't drop the ball.
 Eleventh, If they have agreed to any repairs get them all in writing and set time frames. It's easier to make them get it done before closing than to try and chase them down after. Another problem is there is a form that you sign at closing that says all repairs and agreements have been fulfilled. If you sign this and the work isn't done you don't have much recourse. Know what needs to be done and follow up. This is one of the jobs of the Realtor and if they are not good they may drop the ball and you end up losing.
Twelfth, You will need to get some homeowners insurance for the property to get the loan. Compare rates and ask your lender and Realtor. Again their is a difference from one company and the other and don't only buy on price because how they handle claims is more important. If they leave you with red tape when you lost all you have and have no home you will be sorry you saved a few bucks on a bad company. They may also offer discounts for auto and other insurance bundles. Don't just stay with your auto company, it's a great time to check other companies coverage, rates, and service.
Thirteenth, If everything is good on the home inspection and work is being done you can order the appraisal. The lender usually does this but you can ask them not to until the home inspection stuff is done. This way if their is something really wrong you don't waste your money on the appraisal if your not going to buy. Just don't wait too long or you'll cause delays in the closing date. These two concerns should be weighed by you and your Realtor.
 Fourteenth, Make sure you do a final walk through of the property before closing. If work hasn't been finished or has been done wrong you don't have to sign or you can request a hold back of money to ensure the work is done. Most people don't do this. It's smart to do. Plan it a day or so before closing. Sometimes people are rushed and don't do it but you should try.
Fifteenth, Time to schedule signing. Most people are waiting for the bank to send out docs to the closer so you can sign them. This is the frustrating part at the end. Usually the wholesale lender says they are going out and then delays happen or they need more info for the file. It's just part of the process and usually happens and upsets people. Be patient and get them what they need quickly. Bottom line is you can't sign until the closer has documents. Once they get the docs it takes at least 24-48 hours for them to draw up the final papers for you to sign and then you have to set an appointment with the closer when they aren't busy. You can see that all these variables can cause a week of delays. When people are packed and have to get out this can be very stressful. The Realtor can only try and keep people on task but their hands are tied. The bank and closer are in control and usually it's the bank that is the problem and then the closer tries to make up for it as best they can. Thank your closer and Realtor even if their are delays because it probably would have been worse. Once you're through this and you sign and the other party signs the home can close when those documents go to the courthouse and are recorded, this is usually the next business day and the keys are due to you at 6pm on the day it records.
 Sixteenth, Now you can take possession of your home! Yeah, but be advised like buying a used car there are things that can come up. Like they didn't remove some trash, or you move in and then you find things that you didn't notice. Relax it's normal and realize you are going to have some issues with homes. Try not to focus on the negative and enjoy your new home. They say buying a home is the second most stressful thing a person deals with next to death and divorce. We try and make it as smooth as possible and as profitable as possible. I don't candy coat it. People should know what they are doing and hire a professional who can guide them every step of the way looking out for them, their finances, stress levels, and overall well being. You have now have more education than most buyers have. Your more prepared and ready to be successful on your next home purchase. Check out our blog and website for more tips and straight talk about buying and selling Spokane Real Estate. Call us and let us be your real estate experts.
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