What Missouri buyers need to know from pre-approval to closing
Buying a home is one of the biggest financial decisions you’ll ever make—and if you’re buying in St. Louis (especially in popular neighborhoods like Webster Groves and Kirkwood), it helps to understand how the process works specifically in Missouri.
Here’s your step-by-step guide to buying a home in the St. Louis area—with local tips from The Joel Svoboda Team to help you feel confident every step of the way.
Step 1: Get Pre-Approved by a Local Lender
Before you start touring homes, speak with a local lender to get pre-approved. This shows sellers you’re serious—and gives you a clear idea of your budget.
Why local matters: St. Louis-area listing agents and sellers often prefer working with reputable, local lenders who know the area and close on time.
Pro tip: We’re happy to recommend trusted lenders in Webster Groves, Kirkwood, and surrounding communities.
Step 2: Start the Home Search
Now the fun begins! Based on your budget and priorities (schools, walkability, yard size, etc.), we’ll help you find homes that match your needs.
Expect properties—especially in these high-demand areas —to move quickly. Our team can schedule same-day showings and help you jump on opportunities.
Step 3: Make an Offer
Once you’ve found the one, we’ll walk you through writing a competitive offer. Missouri is a contract state, meaning offers become binding contracts once signed and accepted.
Your offer may include:
- Purchase price
- Closing date
- Inspection contingencies
- Earnest money amount (usually 1%–2% of the sale price)
Step 4: Submit Earnest Money
Earnest money is a good faith deposit held by the title company. It shows the seller you’re serious and becomes part of your down payment or closing costs at settlement.
In Missouri, earnest money is typically due within 1–3 business days after the contract is signed.
Step 5: Schedule Inspections
Missouri buyers have the right to conduct a building inspection, usually within 10 days. You’ll want a professional to inspect:
- Structure and roof
- Plumbing and electrical
- HVAC systems
- Sewer lateral lines
- Termite and pest inspection
After the inspection, we’ll negotiate repairs or credits with the seller if needed.
Step 6: Appraisal and Underwriting
If you’re financing the home, your lender will order an appraisal to confirm the value. They’ll also verify your financial information during underwriting.
We stay in touch with your lender to ensure everything moves smoothly—and on time.
Step 7: Close on Your Home
You’ll meet at the title company (often in-person) to sign your documents and finalize the purchase. Missouri is a “wet funding” state, meaning funds are disbursed the same day or within 24 hours, and you typically get the keys right after closing!
Step 8: Move into Your New Home!
Once the paperwork is done and keys are in hand, it’s time to move in and start enjoying your new home and neighborhood.
Why Work With The Joel Svoboda Team?
From neighborhood expertise to contract strategy, we’re here to make your St. Louis homebuying experience seamless and rewarding. We offer:
- Local market insights
- Fast response times for hot listings
- Trusted local partners (lenders, inspectors, title companies)
- Honest advice and expert negotiation
Thinking of buying? Let’s talk! We’ll help you understand the market, answer your questions, and start your search with confidence.
Contact The Joel Svoboda Team for your personalized buyer consultation.
