Buying

Your Guide to Buying a Home

Home Buying Process
The 30 Days Escrow Process
Do & Don't During Loan Process

1.

HOME BUYING
PROCESS

Meet With A Real Estate Professional first. and discuss the type of home you’re looking for, including style, price, and location.

You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical.

The fun part! Your agent will schedule showings and help you find the perfect home.

Your agent will prepare the offer based on the price and terms you choose.

It may take a few tries to get it just right, but hang in there. You’re on your way.

You and the seller have agreed to the price and terms. The home is effectively held for you until closing.

Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.

2.

THE 30 DAYS
ESCROW PROCESS

Listing Agent opens Escrow

  • Buyer delivers deposit check to Escrow or wires the funds.
  • Loan Officer is notified of accepted offer and loan processing begins.
  • Appraisal is ordered through Buyer’s bank, typically $500-$750 (Buyer’s cost)
  • All disclosures are delivered to Buyer’s Agent by Listing Agent.
  • Home inspection is scheduled, typically within 7 days of escrow opening.
  • Average price range of $300- $500 (Buyer’s cost).
  • Escrow Instructions and Prelim are obtained from escrow
  • and delivered to Seller’s and Buyer’s Agents with a certified copy to loan broker/ lender.
  • Buyer to obtain Home Owner’s Insurance Quote.
  • Any request for repairs must be requested and agreed upon within 17 days or time period specified on Purchase Contract and/or Counter Offer.
  • Buyer’s agent to be aware of the 17 and 21 days contingencies.
  • Final Walk-through to be scheduled 5 days prior to closing or 1 days prior to loan document signing.
  • Removal of all contingencies.
  • Escrow to provide and notify Buyer of the remaining
  • amount needed to be sent to escrow to close the transaction and loan document signing is scheduled.
  • Funding of loan typically occurs 3 days after loan document signing.
  • Grant Deed is Recorded with County usually 1 day after funding and then Keys are Yours!

3.

DO'S & DO NOT'S
DURING THE LOAN PROCESS

DO
DOn't