- Determine needs and wants
- Buying process overview
- Agent Services
- Market conditions
- Lending qualification
- Define Agency Relationship
- Obtain Loan Pre-Approval Letter from Lender (not a pre-qualification)
- Tour Properties that meet the criteria the “ideal” home
- Utilize Buyer/Seller Toolkit to monitor market inventoryFind
Find Home and Make Offer
- Review and sign off on available disclosures and reports.
- Discuss appropriate strategies with agent and submit a reasonable offer
- Escrow officer will order Preliminary Title Report and send copies to both parties
- Buyer funds are deposited into escrow account
Submit Home Informationto Lender
- Submit copy of contract to lender for processing and appraisal scheduling
- Confirm contingency removal date and loan conditions.
Inspections and Property Condition Review
- Buyer inspections: Property, Roof, Pest, Ect.
- 2nd review of Seller disclosures
- If critical issues are discovered during buyer inspections or, Seller disclosure review, renegotiate the price!
- Select home insurance company and coverage
- Submit insurance information to escrowFinal
Loan Underwriting and Appraisal
- Underwriter reviews files
- Appraisal is ordered by lender
- After property inspections and confirmation of loan doc approval, contingencies are removed
- A final walkthrough is performed in order to confirm repairs if necessary
- Property conditions should be consistent with the condition on the date of ratification
Sign Off and Loan Funding
- Sign loan documents and review closing costs settlements.
- Lender sends to the Title Company the funding for ballance
Record/Transfer Title & Close Escrow
- Deed is recorded by the County Records office
- Obtain keys to YOUR new home