Buyers

What Buyer's Need To Know

The Buying Process Timeline

Step 1:

Find a realtor you can trust

Step 2:

Analyze your needs in a consultation

Step 3:

Obtain financial pre-qualification and pre-approval

Step 4:

Select properties

Step 5:

View properties

Step 6:

Write an offer to purchase

Earnest Money Deposit 

(EMD)

Step 7:

You and your agent will negotiate the offer and counter offers with the seller's agent.

Step 8:

Accept the contract

Schedule all

Inspections

Step 9:

Lender will work on getting you approved for the loan by ordering the following:

Credit Report

Appraisal

Verifications

Step 10:

Secure Underwriting

Rejection

Conditions

Step 11:

Schedule termite & survey

Step 12:

Title company will reach out to you for additional information and schedule a settlement date. 

Title Exam & Title Insurance

Step 13:

Obtain Home Owner's Insurance

Step 14:

Close on property

Step 15:

Move In!

Money Needed Up Front

 

  • Earnest Money Deposit

  • Inspection Fee

  • Appraisal

  • Credit Report

Tips When Buying A Home

  • Do not make large purchases

  • Improve your credit if needed

  • Save up for a large deposit

  • Interview more than one Realtor

  • Get pre-approved for your home loan

  • Get a survey done on your property line to avoid a dispute in the future

  • Do not try and time the market - buy when it is comfortable for you

  • Be aware of sleeper costs - property taxes and/or increases, utilities, HOA dues, repairs, maintenance, home insurance

  • Manage your emotions- be wise and realize it is an investment. 

  • Inspect the home from top to bottom before buying it. Would you buy a car without looking under the hood?

  • Place an offer that you can comfortably afford and what is fair market value. 

  • Get comfortable with the neighborhood before hand. Drive by different times of the day to see what goes on.  

  • Have a check list of the features you want in your home

  • Bigger is not always better -  If you plan to sell the home it may limit the potential buyers