Basic Steps to Buying a Home
First, by realizing the benefits of buying a new home, you have made the decision to purchase.
Now it's time to decide what to buy and where to do so.
Here are a few basic steps to take towards the end result.
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| 1 |
Discuss with your realtor® what you’re looking for in a home. |
| 2 |
Contact a lender for mortgage pre-approval-It is very important to know what you can afford. |
| 3 |
View properties--find the one that’s right for you. |
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Strategize with your realtor® the best offer price and terms to produce a winning offer |
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Write the offer. |
| 6 |
You may get a counteroffer-decide with your realtor® the next step-either accept the counter, reject it or counter back. You may also decide to move on the next property.
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If the offer is accepted, you may now open “escrow” with a title company of your choice. |
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Now it's time to make sure your financing is in order. All loan application papers and supporting documents must be submitted to your lender, or if you have already done so, inform your lender of the property details.
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Schedule inspections and review inspection reports and disclosures with your realtor® . |
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Your lender will schedule an appraisal. |
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As the closing date nears, conduct a final walk-through of the property. |
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After consulting the sellers agent, call utility companies to coordinate utility shut-off and turn-on. |
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Escrow/Title company prepares paperwork for closing. |
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Escrow company along with your realtor®, will set an appointment for you to sign closing paperwork and notify you of the amount of funds required.
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Escrow/title company submits certain documents for recording. |
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Upon recordation, the transaction is closed.
This is a "quick version" of the process. From start to finish the process often takes thirty days or more. For a more comprehensive guide to purchase, please click on the link below and fill in a short form and I'll mail you a more comprehensive guide. |
| Click here for a Free Buyer’s Guide. |
Basic steps to Selling Your Home
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| 1 |
Discuss selling your home with a Realtor® . |
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Decide on a list price using, among other things, a Comparative Market Analysis. |
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Complete a Listing Agreement and other paperwork to put your home on the market |
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If agreed to, a FOR SALE sign and lockbox will be placed on your property. |
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Buyers and buyers agents will come to preview your home. |
| 6 |
When an offer is made, your Realtor® will present the offer to you. |
| 7 |
You will decide if the terms are agreeable and accept, counter or reject the offer. |
| 8 |
When an offer is accepted, you will open escrow by hiring a title/escrow company. |
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The buyer may schedule an inspection and an appraisal. |
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The buyers lender will finalize the loan. |
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The buyer may do a final walk-through. |
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You will coordinate utility shut off with your Realtor® so it can be relayed to the buyers. |
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Escrow/title will prepare final paperwork. |
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You will sign the closing paperwork. |
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Paperwork is sent to be recorded. |
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Upon recordation, the transaction is closed. Escrow disburses funds-you may receive a check. |
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| Click here for a Free Home Seller's Guide. |
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