The Home Buying Process
Initial Consultation
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Determine your priorities and needs
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How many bedrooms & bathrooms do you require in your new home?
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What type of home would you like to purchase? Condo, townhouse, single family detached, etc.?
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What special requirements do you have for your new home? Exterior, fireplace, floor plan, fenced yard, etc.
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How soon do you need to be settled in your new home?
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How long have you been looking for a home?
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Have you seen any homes that you have liked?
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Obtaining Financing
Complete pre-qualification application
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Mortgage consultant will determine what price range is best for you
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Complete loan application
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Obtain pre-approval letter
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Very important to have when submitting an offer on a property
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Provide request documentaion
Finding the Right Home
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Realtor to show you properties based on your criteria
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Input criteria in the Multiple Listing Service (MLS), conduct a search, print property info. sheets, save searches, MLS system automatically e-mails realtor and/or buyer
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Evaluate each property with your Realtor
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Choose the home that is right for you and your family
Preparing an Offer
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Review comparable sales to determine offer price
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Review seller’s property disclosure
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Review progree of loan pre-approval: decide on financing
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Decide on other terms (inspections, possession date, personal property, etc)
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Prepare earnest money deposit
Reaching an Agreement with the Seller
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Present your offer
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Negotiation of terms and possible counteroffers
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Agreed-upon sales contract with seller
Completing the Settlement Process
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Deposit of earnest money
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Remove any remaining contingencies
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Arrange for home warranty
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Arrange for movers
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Final walk-through of property with your Realtor
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Provide balance of down payment and closing costs
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Sign documents
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Recording of title
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Receive keys from your Realtor
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Move In
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