01 SELECT A REAL ESTATE AGENT
The Seller has their own agent and so should you. A Buyer Broker will advocate, advise and negotiate on your behalf.
02 MAKE IT OFFICIAL
The Buyer Broker Agreement is the agent’s employment agreement and outlines his or her duties and responsibilities to you, the client.
03 EVALUATE YOUR BUDGET
It is really important that you know how you are spending your money and that YOU DECIDE how much mortgage you can afford.
04 GET PRE-APPROVED WITH A LENDER
A full pre-approval involves more than just pulling a credit score and looking at your last pay stub. Starting the pre-approval process early helps ensure that there are no surprises.
05 EARNEST MONEY AND NEW CREDIT
You will need 1-2% of the Purchase Price available for Earnest Money. If these funds are not currently liquid, speak with your agent and lender. Always check with your lender before taking out any new credit.
06 ENVISION YOUR DREAM HOME
Then define your must-haves. Location, commuting times, schools… are important things to consider.
07 VIRTUALLY TOUR HOMES ONLINE
We will create a customized home search portal to make it easy!
08 TOUR PROPERTIES
Once you have narrowed down your top home choices online, it’s time to hit the streets!
Dream home found! Enough said.
09 MAKE AN OFFER
Your agent will guide you through the process of making an offer. This involves evaluating comparable homes sales, uncovering the Seller’s negotiating hot buttons and devising an offer strategy.
our agent will negotiate on your behalf, and coach you through the offer and counter-offer process.
11 OFFER ACCEPTED
The dates that all parties reach a signed agreement and notice is received by the Broker(s) is deemed as contract acceptance date.
12 DUE DILIGENCE
A 10-Day Due Diligence (Buyer inspection period) is customary unless negotiated otherwise in the contract.
13 BUYER INSPECTION NOTICE
As a Buyer, you generally have the contractual right to cancel the contract if you find something troublesome during your due diligence period or to ask the Seller to remedy.
14 NEGOTIATE REPAIRS
You generally have the right to ask the Seller to remedy items found during the inspection. The Seller is not obligated to make all repairs, so negotiation is required.
If you are getting a loan to help fund the purchase, the lender will require an appraisal. If the home does not appraise for at least the purchase price, you may cancel the contract.
16 CONDITIONAL LOAN APPROVAL
After the appraisal is received, your lender can submit your loan for final underwriting. The underwriter will come back with a loan approval, subject to conditions.
17 FINAL LOAN APPROVAL AND DOCS
Once the conditions have been satisfied and cleared by the underwriter, loan docs can be ordered and sent to the title company.
18 SIGN PURCHASE AND LOAN DOCUMENTS
Signing occurs at the title company, generally 3-5 days before closing.
19 FINAL WALK-THROUGH
The final walkthrough gives you time to confirm that the seller made all agreed upon repairs, and to check that no new issues have cropped up since the home inspection
20 CLOSING AND KEYS
“Closing” occurs on the date the deed transferring the property from Seller to Buyer is recorded with the county recorder. This could take place any time before 5pm on the Closing date. Once confirmation of recording is received, you can have your keys!