Buying Process

Get Pre-Qualified

Sit down with an experienced mortgage professional to be pre qualified. Knowing exactly how much you can & cannot afford will save you time & money.

Selecting Real Estate

Begin house hunting.

Make an Offer

After finding real estate that meets your financial & emotional needs you make an offer to purchase.

Negotiating Begings

After making an offer to purchase the seller may decline, accept or counter offer. If the seller declines, the deal is done. You may choose to make a more attractive offer to the seller or search for another seller. If the seller accepts, your deposit will be held by a neutral third party (escrow company) while inspections & financing are worked out. Lastly, the seller may choose to propose a counter offer by negotiating any number of terms. Such as sales price, escrow time frame & inspection conditions. You may either decline, accept or counter offer the sellers counter offer.

Open Escrow

Congratulations, the seller has accepted your offer. Now hopefully your financing will come together within the given escrow time frame, inspections and/or inspection negotiations will go in your favor & you don't suffer too much stress in the process.

Appraisal

A real estate appraiser will use information about the subject property and similar homes around the neighbor to determine what the home is worth. More so, its too be sure that the mortgage lender doesn't make a $500,000 loan on a piece of real estate only worth $250,000.

Inspections

Home Inspection
Typically, a 3rd party inspector is hired by the buyer to conduct an inspection on the subject property & produce a detailed report for the buyer to review. More negotiating of the purchase price and terms may follow depending on what the home inspection report produces.

Termite Inspection
Buyers generally have the choice of who the 3rd party termite inspector will be. The cost of the service is negotiated before the offer is accepted. The termite specialist conducts an inspection & will produce a report, much like a home inspector. More negotiating of the purchase price and terms may follow depending on what the termite inspection report produces. Also, the inspector will flag problems that need to be address immediately & could destroy your financing. Termite clearance is a requirement for mortgage lenders.

Remove Contingencies

Any clauses and/or contingencies to purchase that were listed in your purchase agreement will be removed at some point during escrow. Your deposit will now be in jeopardy if you choose to back out of the transaction. Contingencies are used by buyers for many reasons. A common example is to protect a buyer from being obligated to purchase real estate without a professional home inspection.

Close Escrow

Congratulations! Now be sure to live within your means or the bank will show you who really owns your home.