PURCHASING YOUR HOME

1. Select a Realtor and Establish a Relationship – Work with a full time professional Realtor with extensive market knowledge.  Work closely with your Realtor to find the right home for you.
2. Initial Consultation with Your Realtor to Evaluate Your Needs and Resources - Once your needs are established, your realtor will provide guidance to financial institutions where you can obtain information in order to get the best financing available.  Meet with your Realtor to discuss your needs and analyze your resources.
3. Identify Property to Buy – Your Realtor will show you homes based upon the criteria that has been established.  The more precise and direct you are, the more successful your search will be.
4. Determine Seller’s Motivation – Once you have found the home you wish to purchase, the Realtor will do the necessary research to help you stricture an effective offer.
5. Write Offer to Purchase – Your Realtor will draft the Purchase Agreement for you, advising you on protective contingencies, customary practices, and local regulation.  At this time you will need to provide an “earnest money” deposit, usually from 1% to 3% of the purchase price (the deposit is not cashed until your offer has been accepted by the Seller).
6. Presentation of Offer to Seller – Your Realtor will present your offer to the Seller and the Seller’s Agent.  The Seller has three options:  they can accept your offer, counter your offer, or reject your offer.  Your Realtor’s personal knowledge of your needs and qualifications will enable him to represent you in the best way possible.
7. Seller’s Response – Your Realtor will review the Seller’s response with you.  His negotiating skills and knowledge will benefit you in reaching a final agreement.
8. Open Escrow – When the Purchase Agreement is accepted and signed by all parties, your Realtor will open escrow for you.  At this time your earnest money will be deposited.  The escrow or title company will receive, hold and disburse all funds associated with your transaction.
9. Contingency Period – This is the time allowed per your Purchase Agreement to obtain financing, perform inspections and satisfy any other contingencies to which your purchase is subject to.  Typical contingencies include:
   1. Approval to the Seller’s Transfer Disclosure Satement
   2. Approval of the Preliminary Title Report form the Title Company
   3. Loan Approval, including an appraisal of the property
   4. Physical inspection of the property
   5. Pest inspection and certification

10. Down Payment Funds – You will need a cashier’s Check or wire money transfer several days prior to the closing date of escrow.
11. Close Escrow – When all the conditions of the Purchase Agreement have been met, you will sign your loan documents and closing papers.  You will deposit the balance of your down payment and closing costs of escrow and your lender will deposit the balance of the purchase price.  The Deed will then be recorded at the County Recorder’s office and you will take ownership of your home.

Take a tip from us… Arrange for Movers Now!

 Your Realtor may have some suggestions so you can

Shop for the best price.