Home Buyer's Guide
Where do you start when you’re ready to buy a home? Here’s an overview of the home buying process.
Get Pre-approved for a home loan through a mortgage broker
As a buyer, it doesn’t cost you anything to work with a mortgage broker, or a real estate agent. It’s very empowering to find out exactly how much you can borrow to purchase your home, or equally so, a practical pathway to get there.
We’ll have a thorough conversation about the exact criteria you’d like in a home, including size, location and type of house, and work within your budget to get you as close as possible to your ideal. You will get automated daily emails on new properties as they hit the market. You tell us if there is one you’d like to see, and we will immediately schedule a time to do a walk through.
Make an Offer
You find a home that you’d like to make an offer on, we submit the offer with your earnest money. You make offers until you have one accepted. It’s unpredictable how many offers you may need to make; it could happen on the first one or the tenth.
Congratulations! Your offer is accepted!... But wait, there are a few important steps to go.
We go straight into a typical ten day inspection period where the property is thoroughly looked over by a licensed professional inspector. We have negotiations with the seller on repairs and you decide if you want to pull out or go forward.
The appraisal is ordered by the lender to determine the exact valuation of the property. You can typically only get the loan for the appraisal amount, so if the numbers aren’t matching up, we go back into negotiations with the seller and you have the option of pulling out or going forward.
We wait for all the paperwork to be submitted to the title co. You pay your down and sign paperwork at the title company on the close date, which is typically 30-45 days after your initial offer was accepted.
Get Your Keys
After the title company records the sale with the city, you get your keys! Your real estate agent will make arrangements for you to receive your keys; typically 1-3 days post signing.
Email us to set up a meeting and start the process!
Quick Glossary of Real Estate Terms
Real Estate Agent
Real estate agents are licensed professionals who represent buyers and sellers in real estate transactions. Agents usually work completely on commission, so their income depends on their ability to assist clients and close transactions.
A mortgage broker is an intermediary working with a borrower and a lender while qualifying the borrower for a mortgage. The broker gathers income, asset and employment documentation, a credit report and other information for assessing the borrower's ability to secure financing.
A sum of money borrowed from a financial institution or bank to purchase a house.
Earnest money is a deposit made to a seller showing the buyer's good faith in a transaction.
A payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.
A company involved in examining and insuring title claims for real estate purposes. The company verifies ownership of real property and determines the valid owner through a thorough examination of property records in a Title Search.
The primary purpose of an escrow for a real estate title transfer or closing settlement is to have a trusted, neutral stakeholder hold the seller's deed to the property, which will be delivered to the buyer upon payment of the sales price and fulfillment of other sale conditions.