How does buying a residential property work, and what are the key steps involved?

Buying a home involves budgeting, property search, negotiation, legal paperwork, and finalizing payments.

Detailed:

1. Budgeting – Assess financial standing and loan eligibility.
2. Property Search – Explore listings via agents or online platforms.
3. Site Visits & Inspection – Check condition, amenities, and legal status.
4. Negotiation & Offer – Discuss pricing and finalize a deal.
5. Purchase Agreement – A contract detailing terms.
6. Loan Processing – Secure financing if needed.
7. Legal Verification – Ensure property ownership is clear.