First it must be said that there are numerous books on the subject and professionals who buy properties for a living so this page is clearly merely an introduction.
1. Check out the local Library, or bookstore, for a good book of getting through the process in detail. A book that costs fifteen or twenty dollars could save you thousands of dollars-- making it well worth the price to buy and take the time to read..
2. Check out your finances. The ultimate question you need to answer is--what can your reasonably afford. The best way to start is to talk to a good Mortgage Originator. If you contact me, I can recommend some here in the area. They will ask the right questions and be able to give you a letter stating the amount of Mortgage you are qualified for. This information is necessary to decide on what houses you will shop for.
3. Find an agent who will work for you and with you effectively and professionally. You can choose to look through the internet, or read the newspaper, or even drive around the neighborhoods you are interested in but most people find that working with an agent saves them time and money in the short and long term. They can get you into houses listed by other real estate agents. They have studied and practiced negotiating so they can get you a good house that you choose. They can guide you around, hopefully not through, the myriad of pitfalls that can occur during the exciting time that you make the final steps for your new homes purchase.
4. Decide on what you want in a new home? Do you want a great room? Waterfront? Waterview? Do you need three bedrooms? Two bathrooms? A fenced in yard? The more you think ahead of time, the more you can tell your agent, the fewer the houses you will have to walk through before he shows you the house that you decide will be your new home.
5. Once you find the house you want, comes the exciting work. The kind of work that Agents do all the time that many buyers never think of. Find recent sales on properties similar to the one you want. Analyze the information what was the condition of those properties when they sold. How many days were they on the market? What special features did they have? Does your house have any of these? Does your house have any problems that need fixing immediately or the near term future? The answers to these and other questions need to be taken into account when you write your offer.
6. Write your offer. Your Agent has experience filling out a contract/offer. Do you want a house inspection? Do you need a roof certification? Are the homeowners association documents available. Many contracts can run 30 or more pages, your agent knows them all, so feel free to ask whatever questions you want.
7. Your agent will present the offer to the sellers agent and take care of negotiating the details for you. But that is just a first step. You must decide on a title company, home inspection company, termite inspector, etc. If they find problems, your Agent can guide you the negotiation process of getting the problems solved.
8. Once all the results come back positively, the settlement is scheduled. Make sure you review the finances so you have enough money to bring to the table for closing costs. And show up excited and happy to purchase your new home.
9. Move in. Unpack. Enjoy your new life in Annapolis.