Step 1: Prepare
I meet with you personally to discuss goals, timeline, and criteria. My job is to see property for you, analyze Disclosure Packages, negotiate on your behalf, and properly advise on writing offers that will get accepted.
Step 2: Get Pre-approved
Financing your new home purchase begins with a consultation with a qualified loan agent. I can recommend many who have the requisite experience, competence and integrity. There are a wide array of loan options, and choosing the one that works best for you will depend on a number of factors: your financial wherewithal and future plans, the monthly housing expense you are comfortable with, cash available for the down payment and closing costs, how long you plan to own your new home, etc. Finding the right lender is important for getting your offer accepted and your escrow closed on time. I can help you to select the best person to get the job done.
Step 3: The Search
It’s time to find your dream apartment. I will advise you on neighborhoods, property types, off-market listings, market trends, and pricing. You will explore neighborhoods and Open Houses.
Step 4: Write an Offer
Once you have found your home, together we will review the Disclosure Package and discuss comparable properties. I will strategize with you to make the most competitive offer, and submit your purchase contract.
Step 5: Going to Escrow
Congratulations, your purchase contract has been ratified! The seller has now accepted and delivered the purchase contract back to you and it becomes binding. This is referred to as being "Ratified". Your Realtor will create for you a timeline of events, and you will open an Escrow account with your Title Officer. You will then submit your contract deposit (3% of purchase price).
Step 6: The Mortgage Process
Your lender will now get started on clearing your loan. They will 1) approve your qualifications through underwriting, 2) approve the property itself ( by reviewing the Preliminary Title Report), and 3) order an appraisal. Depending on the lender, the property and specific circumstances, this process typically takes from fourteen to thirty days.
Step 7: Final Walk-through
Once your loan has been cleared, you will schedule the final walk-through of your property, review and sign your closing documents, and submit your final payment. You are almost there!
Step 8: The Closing
Your loan is funded and the Deed is recorded in your name. Escrow closes. Congratulations, the keys are all yours. Welcome Home!