Home buying can indeed be a difficult task, more so, when you are doing this for the first time. The process of home buying comes with its ups and downs but the journey is worthwhile. While opting to buy a house one may have a lot many questions, perhaps, this is going to be the biggest investment of your life. To make things a bit easier, here is a step-by-step description of the home buying process: 1. PLANNING Planning is of prime importance when you are thinking of owning a home. After all, you can’t just go out one sunny day and pick a house of your choice, pay out the cash and come back, in fact, it is indeed a long process. A thorough research on all the available properties in the location of your choice and comparing their prices, infrastructure, amenities, etc. is a must to get an idea of your requirement and the market price. 2. FINANCES Finance is the next part you have to look onto. After all, this is going to be a big spent of your life, plan your finances accordingly. If you have to take loan, process the documents well in time, visit banks, know the interest rates of various banks and once you settle on one, get the pre-approval on the loan, this will take care of a huge part of the finances. 3. PROPERTY OF INTEREST Once you have your loan pre-approved, you know how much you can settle for or the amount that you qualify. So, finding a real estate agent to help you sort out properties is the next step. Make sure you are not getting hold of any random person but rather a genuine authentic realtor, who can guide you through the properties and help you select the right one as per your budget and requirement. Once, the property has been finalized, draft an offer letter for the seller along with some cash deposit for the seller to accept your offer. 4. APPLY FOR THE LOAN Once the offer letter is accepted, you can then approach the bank with all the relevant documents based on which your final loan amount will be sanctioned by the bank after reviewing all the important documents to ensure the capability of paying the loan amount. A letter will be provided which will contain the interest on the loan, the monthly installments to be paid and the closing costs. 5. SEAL THE DEAL Once the loan has been approved, you can finally go for closing the deal. Get the agreements ready, once the agreement is obtained, it is important to go through each and every point and evaluate them carefully, in case of any doubts or any statement that gives a double meaning should be carefully analyzed and talked to with the seller and the agent, once satisfied, you can finally sign the agreement and get the deal closed. There you go , the proud owner of your dream home!

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