Buying Process

Below are the 4 phases of the buying process.

Phase 1: 🔎

a. Initial Consultation

• Determine wants and needs

• Buying process overview

• Agent services

• Market Conditions

• Lending qualification

• Define Agency Relationship

b. Loan Pre-approval

• Obtain Loan Pre-Approval Letter from mortgage lender

c. Home Shopping

• Tour Properties that meet the criteria, the “ideal” home

• Utilize Real Scout to monitor market inventory

Phase 2: 📝

a. Inspections

• Buyer inspections: Property, Roof, Pest, Etc.

• Review Seller Disclosures

b. Home Insurance

• Select home insurance company and coverage

• Submit insurance information to escrow

c. Make Offer

• Review and sign off on available disclosures, reports, and inspections

• Discuss Strategies Pricing?

• Contingencies?

• Rent back offer?

Phase 3: 🔏

a. Open Escrow

• Title Escrow officer will order Preliminary Title Report and send copies to both parties

• Buyer funds are deposited into escrow account

b. Submit Home Info To Lender

• Submit copy of contract to lender for processing and appraisal scheduling

• Underwriter reviews file

• Appraisal is ordered by lender

Phase 4: 🏠

a. Final Walkthrough

• A final walkthrough is performed in order to confirm repairs if necessary

• Property condition should be consistent with the condition on the date of contract ratification

b. Sign Off & Loan Funding

• Sign loan documents and review closing costs settlement

• Lender sends funds to the Title Company

• Buyer brings in balance of funds

c. Close Escrow

• Deed is recorded by the County Records office

• Obtain keys to YOUR new home!