Trying to understand the sequence of events in purchasing

[Mike Berning]

Hi all,

I'm totally new to the REI game. I've read a couple of books and feel that I have a pretty good handle in the individual tasks, but I'm having a hard time putting together a general sequence of events. I think my confusion comes from the fact that the books I've read don't necessarily follow from one logical step to the next.

Here is how I see the process right now, please correct me if I am wrong.

1. Find a mortgage broker and figure out what I can afford.
2. Find a property and a buyer broker / agent
3. View the property, ask general questions, and determine if I still have interest.
4. Make an offer. Negotiate most of the details.
5. Enter into contract at an agreed upon price. Put down a deposit or earnest money.
6. Have the home inspected.
7. Conduct my 'due diligence' and review tenant records, taxes, etc.
8. Go back to my mortgage broker and finalize the details of the mortgage.
9. Go to the closing table and seal the deal.

Anything I missed or totally screwed up?

Thanks,
Mike