Step 1: Consultation.
During our first meeting we will listen to
your wants and needs and walk you through
the buying process.
Step 2: Pre-Approval. A
lender will determine what loan programs
may be available to you and suggest programs
that meet your short and long term plans.
A pre-approval letter can enhance your position
when presenting an offer.
Step 3: Find a Home. We
will help you find a home that fits your
wants and needs.
Step 4: Make an Offer.
Having found the home of your choice, we
will do the necessary research to help
you structure an offer. When the Seller responds
to your offer, we will explain your options
and negotiate on your behalf with the Seller.
Step 5: Manage the Escrow.
When all of the conditions of the purchase
agreement have been met, you will sign escrow
instructions and deposit the balance of your
down payment and closing costs to escrow.
What is 'escrow'?
Step 6: Close Escrow. The ‘escrow
closing’ signifies the change of ownership
from the Seller to the Buyer and usually
includes the execution and recording of the
Grant Deed and Deed of Trust.
What does it cost to buy a home?
costs in the purchase your new home are:
Price of Home: Your expense depends
on your downpayment, from 0-100% of the
Inspections: A general
inspection can be several hundred dollars,
and this may lead to specific inspections
at additional costs.
Closing costs: Costs
vary depending on the purchase contract
and may include items such as various
escrow fees, insurance, loan points & fees,
transfer taxes, and prorated mortgage
interest and real estate taxes.
What is 'escrow'?
Escrow is a process for
handling the details of the transaction from
the time the purchase agreement is accepted
until title is transferred to the Buyer.
An escrow is a temporary deposit of assets,
such as funds and documents, with a neutral
third party that makes sure that the terms
of the purchase agreement are carried out.
The money is released when the conditions
of the contract between the two parties have
How long is an escrow?
The length of an escrow
is determined by the terms of the purchase
agreement and can range from a few days to
several months. An escrow often takes an
average time of 30 to 45 days.
How are real estate agents compensated?
commission amount is negotiated between the
Seller and the Seller's agent, and that amount
is usually divided among the Seller's agent's
Brokerage, the Seller's agent, the Buyer's
agent's Brokerage, the Buyer's agent and
any referring agents. Real Estate
commissions are traditionally paid at the
close of escrow from the Seller's proceeds.
Do I have to work with the agent that is
on the sign or at the open house?
No, we can
assist you in buying any home. Home information
on the Multiple Listing Service is shared
and available to any licensed agent.