Step By Step Home Buying

While the process of buying your home may seem overwhelming, you will have an entire team of professionals working on your behalf. We strive to build a trusting relationship with our clients. We will work closely with you to find the perfect home to meet your unique needs. With our extensive market knowledge, we can provide assistance and guidance throughout the buying process.

1. Determining Your Budget & Getting Pre-Approved

By meeting with a professional lender before you begin to look at properties, you will get an accurate idea of the mortgage amount that fits your budget. You may be surprised at the variety of loan options available today. We can recommend lenders who can pre-approve your loan and give you the confidence to make a strong offer once you find the home of your dreams.

2. Finding Your Perfect Home

The next step will be to get out there and find the perfect home! Your real estate professional can show you homes with the features you want, within your desired price range. The more details you can share with us, the more successful your search will be.

3. Making an Offer to Purchase

Once you find your dream home, we will draft a purchase agreement and advise you on customary practices, local regulation and any contingencies. Most purchase agreements are submitted with an “earnest money deposit”, of 3% of the purchase price (which is not deposited until all parties have signed the agreement. Then, we will present your offer to the seller’s real estate agent.

4. Reviewing the Seller’s Response

We will work with you to review the seller’s response to your offer. This may require some negotiation. Our knowledge of this process and strong negotiation skills will help to ensure the best agreement for you.

5. Opening Escrow

Once the purchase agreement is accepted and signed by all parties, we will open escrow for you. Your earnest money will be deposited at this time. Your escrow company will handle all funds associated with your transaction.

6. Entering the Contingency Period

This time period is specified in your purchase agreement and is used to obtain the following items:

  • Physical Inspection of Property
  • Property Pest Inspection
  • Property Appraisal
  • Approval of Seller’s Transfer Disclosure Statement
  • Preliminary Report Approval from Title Company

In this time period, you will also be able to:

  • Satisfy Purchase Contingencies
  • Secure a Lender
  • Obtain Loan Approval

7. Obtaining Homeowner’s Insurance

In preparation for owning your home, you must provide a homeowner’s insurance policy that is in effect by the close of escrow. We will work with your escrow company and insurance agent to ensure that your policy is in effect by the proper date.

8. Signing Loan Documents

Before escrow can close, you will need a cashier’s check or wire transfer in the amount of your down payment and closing costs. Your escrow company will provide a statement of estimated closing costs that shows this amount.

9. Closing Escrow

When all conditions of the purchase agreement have been met, you will then sign all of the closing documents. After you deposit the balance of your down payment and closing costs with the escrow company, and your lender has approved your final loan documents, your lender will then deposit the balance of the purchase price. Next, the Country Recorder’s office will record the deed. You will then be the proud new owner of your new home!