For Buyers

01
Figure Out How Much
House You Can Afford

  • Calculate your monthly income and debt.
  • Check your credit report and FICO score.
  • Use FrontDoor’s mortgage calculator.
  • Figure out your down payment.

02
Get Pre-Approved
For A Mortgage.

  • Choose a type of mortgage.
  • Speak to at least five lenders and mortgage brokers.
  • Shop for the best interest rates and programs.

03
Determine What You Want
And Need in a Home.

  • Choose a location (downtown, urban, suburban, rural).
  • Choose a type (single family, townhouse, condo, loft).
  • Choose a price range.
  • Choose a size.
  • Choose an architectural style.

04
Research Your
Target Neighborhoods.

  • Look online for information on schools, crime rate, traffic and zoning.
  • Determine your work commute.
  • Scout local amenities, such as parks, shops and restaurants.

05
Work With a Buyer's Agent Who
Knows The Neighborhood.

  • Get referrals.
  • Consider working with an exclusive buyer’s agent.
  • Interview at least three agents.
  • Look for experience and good chemistry.

06
Search For Homes in The MLS
And For Sale By Owner (FSBO).

  • Browse listings online, including FrontDoor.com.
  • Ask your agent to set up tours of homes that fit your criteria.
  • Check local newspapers.
  • Pick up flyers and attend open houses.

07
Research Each Home
You Want to Buy.

  • Ask your agent for comps to estimate the property’s fair market value.
  • Ask the seller’s reason for selling.
  • Review all property disclosures.
  • Find out about liens, easements or other restrictions.

08
Make An Offer And Negotiate.

  • Determine the purchase price.
  • Include contingencies, such as financial, inspection or purchase.
  • Spell out any special requests and repairs you want included in the sale.
  • Determine an earnest money amount.
  • Define a move-in date.
  • Once both parties agree to the terms, sign the Purchase and Sale Agreement.

09
Finalize The Deal.

  • Get the house appraised.
  • Get a professional home inspection.
  • Consider getting specific inspections for structural engineering, roof & termites.
  • Use the appraisal and inspection reports to re-negotiate if necessary.
  • Choose a home insurance company.
  • Complete the loan process with the lender.
  • Do a walk-through inspection prior to closing.
  • Set aside cash for the closing costs and down payment.

10
Close The Purchase.

  • Review the settlement document at least 2 days before closing to see how funds will be collected and distributed.
  • Get a cashier’s check for the amount you need to bring to closing, including the down payment and closing costs.