The Home Buying Process
1. Find your purchase power
- Meet with a lender.
- Get pre-qualified.
- Shop in your price range.
- Discuss best options with your lender and Realtor®.
2. Choose your Realtor®
- You have a choice.
- We encourage a Realtor® who loves their job and who wants to work for you.
- Find someone who is knowledgeable and you trust.
- TIP: Sign a Buyer Broker Agreement. It’s a commitment to exclusively work together during the process.
3. Go shopping
- What’s your dream home?
- Share your criteria – it takes a team to find the right home.
4. Make an offer
- Until your offer is fully accepted, anyone can make an offer and purchase the home.
- Your Realtor® should already have systems and strategies to assist during any negotiations.
- MONEY NOTE: Your good faith deposit money is due within 3 days of the accepted offer. Typically 1-3% of the purchase price.
5. Inspection time
- Your Realtor® should provide the escrow timeline before the house.
- You will also receive disclosures and need to shop for any insurance.
- Now is the time to take a closer look. Your Realtor® can suggest professional home inspectors to find any possible defects.
- MONEY NOTE: Inspection fees are due at the time of service. Prices can range, but typically budget $250 – $400.
6. Release contingencies
- After you look at all the reports, disclosures, inspections, title reports, insurance bids, etc., you get a choice:
- Continue to closing
- Run away (Get your deposit back)
- TIP: It doesn’t hurt to ask for reasonable adjustments. The seller can not kick you out of the deal for just asking.
7. Wrap of the transaction
- Time to sign escrow instructions and any loan documents.
- Do a final walk-through with your Realtor®.
- Transfer utilities.
- Time to pack if you haven’t already!
8. Get the keys to your new home!
- The title will be recorded in your name.
- Time to unpack.
- Your Realtor® should follow up with your to make sure you settle in the near future.