STEPS TO BUYING A HOME
Evaluate your needs
What do you want and in a home?
Example: size, amenities, neighborhoods, etc.
Find out what you can afford
Online calculators, like http://www.mortgagecalculator.org/, can help you get an idea of what you can afford.
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.
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
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.
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.
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
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!