The steps
- Get pre-approved for a mortgage. A lender reviews your income, credit and savings and tells you how much you can borrow. Sellers take pre-approved buyers more seriously. Check today's rates on the mortgage calculator.
- Choose your agent and sign a buyer agreement. Since 2024, buyers sign a written agreement with their agent before touring homes. J.R. explains his in plain language.
- Pick your areas. Ann Arbor, Ypsilanti, Dexter, Saline, Chelsea and the townships all feel different. Think about commute, schools and lifestyle.
- Tour homes, and check the real tax bill before you fall in love. A home's taxes reset after it sells; see property tax uncapping.
- Make an offer. Your agent writes the purchase agreement, including price, earnest money deposit, inspection period and closing date, and negotiates with the seller.
- Inspection and appraisal. A professional inspector checks the home, and your lender orders an appraisal to confirm the value.
- Title and final loan approval. The title company makes sure the seller can transfer clean ownership, and your lender gives final approval.
- Final walk-through and closing. You see the home one last time, sign at the title company, and get your keys.
- After closing: file your Property Transfer Affidavit within 45 days and your homestead exemption.
What J.R. adds for buyers
- Up to $2,000 toward your closing costs, paid within 72 hours after closing.
- A free one-year home warranty and a professional deep clean.
- A utility and service concierge binder and help filing your homestead exemption.
See all the details on the Buyer Benefits page.
Frequently asked questions
How long does it take to buy a home?
Once your offer is accepted, closing usually takes about 30 days with a mortgage, depending on your lender. J.R. targets about 21 days when everything lines up. Finding the right home can take days or months.
How much do I need for a down payment?
It depends on the loan. Some programs allow as little as 3% to 3.5% down, while 20% down avoids private mortgage insurance on a conventional loan. A lender can tell you which programs fit you.
Do I pay my buyer's agent?
Since 2024, buyer's agent compensation is agreed in writing between you and your agent, and it may be paid by you, by the seller as a concession, or a combination. J.R. explains the options up front.
This guide is general information, not legal or tax advice. Rules can change; check with your assessor, title company or tax professional for your situation.