STEPS TO BUYING A HOME

  1. Evaluate your needs

    • What do you want and in a home?

    • Example: size, amenities, neighborhoods, etc.

  2. Find out what you can afford

  3. Get pre-approved for a home loan

    • Getting pre-approved with a mortgage professional will provide realistic expectations when looking at the current real estate market.

  4. Find a Real Estate Agent

    • They can provide helpful information on homes and neighborhoods that may not be available to the public.

    • Real Estate Agents are knowledgeable of the home buying process and have negotiating skills that can be extremely valuable  

  5. Find a home!

    • Start touring homes in your price range

      • Test out things in the house like plumbing (water flow in shower and kitchen), electrical systems (turning on and off switches), and open and close windows and doors

      • Evaluate the neighborhood: how well are the homes on the street maintained, traffic flow, street parking, proximity to schools, stores, transportation, etc.

      • Take notes! You’ll see a lot of house and it will become hard to remember what you liked and didn’t like at each place.

    • Real Estate Agent will help you save time by keeping your search to homes that meet your personal and financial needs.

  6. Make an offer

    • Once you find the right home work with your real estate agent to negotiate an offer.

    • Your real estate agent will help you decide what a fair offer is by providing you information about the value of comparable property in the neighborhood.

    • Once the buyer and seller come to an agreement on price (Acceptance), the house will go into escrow. 

  7. While in Escrow

    • Inspections: The buy may have a variety of home inspection completed prior to removing contingencies.

      • Ex: Roof, sewer, chimney, pest, electrical, plumbing, etc.

    • Review Disclosures: Buyer needs to review all disclosures, CC&Rs, HOAs any other reports provide by seller, listing agent and buyer’s agent.

    • Home Appraised: Your lender will schedule for the home to be appraised 

    • Home Owners Insurance: Get an insurance quote and commitment to insure once escrow closes

    • Typical period is 30-45 days

  8. Close Escrow

    • Title records are checked for errors, tax and other claims needing to be settled

    • Title and loan documents are signed

    • The buyer will conduct a final walk-through to ensure the property condition has not changed

    • After all documents are signed, closed and recorded buyer receives KEYS!