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✓ Gather your documents
✓ Obtain pre-approval or proof of funds
✓ Locate down payment funds
✓ Prepare for any additional costs
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✓ Preview potential properties online
✓ Schedule showings and view the properties you are most interested in
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✓ Conduct inspections
✓ Resolve/negotiate any issues from
inspection
✓ Your lender will order the appraisal
✓ Obtain homeowners insurance
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✓ Write an offer to purchase on your favorite property
✓ Negotiate the terms of the offer and accept the contract
✓ Deposit earnest money, complete loan application and homeowners insurance
✓ Obtain homeowners insurance quotes
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✓ Title company will conduct title search and order survey
✓ Receive closing statement/clear to close
✓ Wire funds to closing company or provide certified check
✓ Conduct a final walk-through of property and close
✓ Closing day: Get your keys, it’s all yours!
The Buying Process
We’ve compiled our most popular resources to make buying your home as easy as possible. These worksheets and checklists will help you with finding the right lender, defining wants vs needs, narrowing down your selections, making the most of showings, as well as navigating pre-closing and moving.
Free Worksheets Bundle
Buying with Compass
Compass is building the first modern real estate platform, pairing the industry’s top talent with technology to make the search and sell experience intelligent and seamless.
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Compass One is the only platform designed to connect you and your agent through every phase of your real estate journey. Experience 24/7 transparency before, during, and after the transaction for total peace of mind.
With the Compass One App you can:
Start your search
Access listings from your personalized dashboard, including properties that are only on Compass.com.Collaborate with ease
Organize, share, and comment on your favorite homes. Stay on top of new listings, request tours, and view your tour schedule with ease.Keep up to date
View your timeline for a comprehensive overview of upcoming steps, recent updates, and pending tasks.Know your team
Access contact information for all parties involved in your transaction, including your agent team, loan officer, and closing partners like title and escrow.Stay organized
Easily reference your signed documents, forms, and other relevant paperwork all from one place.
Hear from those who have bought with us…
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I found my dream home in two day! TWO DAYS!
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I bought my first home with True North. Now I buy and sell properties and am making a great side income just because of all I learned from True North.
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This is the 3rd home I've bought with True North, every transaction has been smooth.
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Are you ready to take the next step?
Additional Buying FAQ
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Chat with / select an agent
Get pre-approved
Start your search
Make an offer and go under contract
Complete inspections, loan processing and appraisal
Close and move in!
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Under contract means that all parties have agreed on terms, have signed the contract, and the signed contract has been delivered to both buyer and seller. Payment of the earnest money deposit is expected but is not a requirement to make a binding contract.
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The earnest money, hand money, or good faith deposit is money that is offered with an offer, or as soon as an offer is accepted, to show the seller that you are serious about moving forward with the purchase of the home. Because you forfeit this deposit if you back out of the purchase for any reason not allowed for in the contract, the larger the earnest money, the more seriously your offer is taken.
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We always recommend that you have a home inspection done. In the scheme of things, paying a few hundred dollars to have peace of mind that there are no hidden dangers or problems is well worth the money.
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The cost of the home inspection depends on the size of the house and additional inspections requested, such as swimming pool, septic tank, termites, insurance four- point (HVAC, plumbing, roof, and electrical,) pest, and radon. An average home inspection, without additional inspections, is about $500.
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If you have gone through the pre-approval process and have been forthcoming with all the information requested by your lender, it’s unlikely you will be turned down, but it does happen. Make sure you do not change jobs, purchase big-ticket items on credit, take out a car or boat loan, or open any other new credit accounts while your mortgage is being processed. If your loan does fall through, talk with your lender about changing to a different loan type.
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When you have the keys! When you are financing your purchase, it takes four to six weeks for your loan to be processed. Once the lender gives the all-clear, closing is scheduled. You will sign your loan documents and both parties will sign documents transferring ownership to you. Unless other arrangements have been agreed upon by both parties, the sellers should have completely vacated the home when they sign the closing papers. You can have your belongings ready to move, and a moving company scheduled before you go to closing.
