Real Estate > The Buying Process

When you have decided that the time is right to purchase a home, you'll first want to get pre-qualified for a mortgage. A pre-qualification is based on a loan consultant's review of the items contained in the Loan Application Checklist. The loan consultant will order your credit report, and will review all the documentation to determine the maximum sales price, loan amount, and what type of loan would work best for you.

Along with getting pre-qualified, you'll want to make a list of where you'd like to look (specific neighborhoods, areas of the city, etc.) and amenities you're looking for (# of bedrooms, garage, etc.). Then, you'll want to find an agent you trust to work hard to find you the right home.

I can email you information about all of the currently available homes that match your criteria. You can look at these homes online, and then we'll make appointments to view the ones of most interest to you.

Once you've found a home that you'd like to buy, we will discuss the terms of the contract (price of the offer, amount of earnest money, closing date, etc.) and we will write up a purchase and sale agreement. The earnest money is essentially a deposit towards your down payment and closing costs. The escrow company will generally hold these funds until closing. (The funds are deposited at escrow shortly after we have come to agreement on a contract with the seller.)

Once we have the contract written with the terms that work best for you, the buyer, I will present the offer to the seller and their listing agent. They may make a counteroffer (change some of the terms of the contract) or may sign the contract as is. If there are changes made, you have the option to agree to them or not, and we proceed from that point. If both parties come to agreement on the contract then we have “mutual acceptance”, and we proceed to the inspection phase of the negotiation.

You'll be in charge of hiring an inspector for a thorough inspection of the property. You can ask friends and family for referrals for an inspector and I can provide a list of names as well. The cost of the inspection should be in the range of $325-$450, depending upon the size (square footage) of the home.

Once we've determined that the property is in good shape and have negotiated any inspection items with the seller, the transaction is really in the hands of the loan consultant (see The Loan Process). It is my job as your real estate agent to be sure that everyone is working toward the closing date specified in the purchase and sale agreement. I will keep you updated as to the progress made, as should your loan consultant.

When you are entitled to possession of the property, I will meet you at your new home with your keys!