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The Home Buying Process

YES...There is a right way and a wrong way to buy a home!


The WRONG way to buy a home


The RIGHT way to buy a home

Before you ever pull up Zillow or Realtor.com and start looking at homes, you should first pick up your phone and call a lender.  ...Why?  

  1. Our market is super-hot in the Nashville / Murfreesboro area.  Homes are only on the market for an average of 30 days.  Many homes sell during the first few hours of being listed.
  2. You may have some fraud or derogatory things on your credit that you're not even aware of.
  3. Lenders do not use the same credit reporting agencies that consumers do.  You need to know what your financial picture looks like to the people who will be loaning you the money!
  4. If your credit score isn't quite where it needs to be, isn't it better to find that out first rather than falling in love with a home only to find out you can't qualify for it?  A good lender won't just tell you "NO" and move on to the next person.  A good lender will work with you to get you where you need to be.  (See our list of recommended lenders).
  5. When you get pre-qualified, you are in a stronger position to make offers.  Many sellers  in our area aren't even accepting offers unless the buyer is already prequalified.

Find a qualified REALTOR® -- like The Drummond Team

  • Let us know you’ve been pre-qualified and who your lender is
  • We will discuss your needs and wishes so we can locate great properties for you quickly
  • We will sign an Exclusive Buyer’s Representation Agreement & then go to work for you!

Have a blast looking at potential homes!

  • ALL showings should be scheduled through your REALTOR®
  • By Tennessee law, you must disclose the fact that you are already represented to any other real estate agents you run across (for example, if you drop in on an open house or model home without your REALTOR® being with you)

Make an offer on the house you love!

  • We will help you decide a reasonable offer price and terms and fill out all the forms with you
  • We will promptly submit your offer to the listing agent (or the owner if it is a For Sale by Owner property).  Your offer may be: a) rejected, b) countered, or c) accepted as-is
  • If the offer is countered, we will help you with negotiations until coming to agreement
  • Once your offer is accepted, you have a binding agreement and then the clock starts ticking on multiple things you must do. 
  • Be prepared to submit an earnest money check, usually within 3-5 days of getting an accepted offer.  The amount of this check varies, depending on the price of the home and local tradition.  This money is held in escrow for you until closing, and is applied toward the purchase price of the home.

Example:  $250,000 purchase price
$1,000 earnest money
You pay $249,000 at closing (through combination of cash and loans)

STEP 5Home Inspections Happen During the Escrow Phase
The Escrow Phase
This time period between offer acceptance and closing (the day you get your keys) is often called the "escrow" phase.  It usually lasts between 30-45 days.  There are multiple things that happen during this important phase:

  • Formally Apply for Loan
  • Order Home Inspection
  • Repairs Negotiated and Completed
  • Bank Orders Appraisal
  • Title Search
  • Order Termite Inspection
  • Underwriting

We will walk you through every step of this process so that you always know what's going on and don't miss any deadlines!

Final inspection
1-3 days before closing; gives you a chance to ensure all repairs were completed and the house is still in acceptable condition.  


  • "Closing" is the name given to the process of changing ownership of the home.  All the paperwork is signed, money changes hands, and you get your new keys! 
  • Takes about 1 hour
  • Bring your photo ID and your checkbook just in case there are any minor last-minute adjustments needed

Move in...it's yours!



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Ryan Drummond
The Drummond Team
Red Realty, LLC
1574 Medical Center PKWY STE 202
Murfreesboro, TN 37129
615-896-2733 Office
615-394-4767 Cell 


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