The home purchasing process involves several key steps: selecting a real estate agent, getting financial preapproval, analyzing needs in a buyer consultation, selecting and viewing properties, making an offer, negotiating terms, accepting a contract, conducting inspections and removing contingencies, obtaining mortgage financing which includes an appraisal and underwriting, conducting a title search and resolving any issues, obtaining title insurance, acquiring funds for closing, and finally closing on the property and taking possession of the new home.