Buying Your Home

• Choosing the right REALTOR for you- You want someone with extensive market knowledge and the ability to negotiate aggressively on your behalf.

• Finding the right home- Based on the search criteria we discussed, we will search for the ideal home for you and your family.

• Submitting an Offer/Presentation of Offer-Make sure to advise you of all customary practices such as contingencies and local regulations. At this time you will need to provide an “earnest money” deposit, usually 3% of the purchase price. I will present the offer to the listing agent at which there will be 3 possibilities: accepted offer, counter offer/multiple counter offer, or rejected offer.

• Escrow- A procedure in which a third party acts as a stakeholder for both the buyer and the seller, carrying out both parties’ instructions and assuming responsibility for handling all the paperwork and distribution of funds. When the purchase agreement is accepted and signed by all parties, escrow will open. At this time your earnest money (3%) will be deposited. The escrow company will receive, hold and disburse all funds associated with your transaction.

• Contingency Duration-Per the purchase agreement, this time is allowed to obtain financing, buyer investigations, appraisal and satisfy any other contingencies of the purchase agreement.

  CUSTOMARY CONTINGENCIES INCLUDE:

  • Approval of the seller’s disclosures.
  • Approval of the preliminary report from the title company.
  • Loan approval, including an appraisal of the property.
  • Physical inspections of the property.
  • Pest inspection and certification.

• Final Walk-through- It's a good idea to reinspect the property just before closing to make sure that no new damage has occurred and that the seller has left you items specified in the purchase agreement, such as appliances or fixtures. At this point in the process, you probably won't be able to back out unless the home has sustained serious damage. However, it's not unheard of for a petty buyer to pressure his or her agent to get the agreement nullified over something insignificant.

• Close Escrow- The closing process varies somewhat by state, but you'll need to sign a ton of paperwork, which you should take your time with and read carefully. The seller will have papers to sign as well. After all the papers are signed, the escrow officer will prepare a new deed naming you as the property's owner and send it to the county recorder. You'll submit a cashier's check or arrange a wire transfer to pay for your down payment and closing costs, and your lender will wire your loan funds to escrow so the seller and, if applicable, the seller's lender, can be paid.

Working Together Again:

• Staying in touch and keeping you informed
• Second homes and investment properties
• Providing resources and introductions
• Referrals, testimonials and reviews