Buyer’s Process Outline

Initial Consultation
1. Determine your priorities and needs
2. Review Agency Options and determine our working relationship
3. Discuss financing options: Cash or Mortgage – If a mortgage is needed
a. Contact Mortgage Company, and consult with a loan officer
b. Request a Pre-qualification for Mortgage
Finding the Right Home
1. I will show open a search portal for you based on the criteria you are looking for
2. I will set up showings to tour the home/homes with you
3. Choose the home that you have interest in buying
Preparing an Offer
1. Review progress of mortgage pre-approval, selected type of mortgage needed with loan officer if you haven’t done so already. You need a Pre-Approval to make an offer unless you are paying solely cash. If you are paying cash you need to provide proof of funds
2. I will review comparable sales to help you determine an offer price
3. Review the Seller’s Disclosure if applicable
4. Decide other terms of the Offer, inspections, settlement date, personal property etc.
5. Have earnest money deposit- This is also referred to as good faith deposit. Can be a personal check if closing date is more than 30 days from the time you are under agreement. If less than 30 days must be a certified bank check
Reaching an Agreement with the Seller
1. I will present your offer either to the Seller or the Representing Agent
2. Negotiation of terms may take place and possible counter offers
3. If an agreement is made between the buyer and seller, the home is now under agreement and you have a sales contract
a. Your deposit money is turned over to the Seller’s Representative and placed into an escrow account.
Completing the Settlement Process
1. Schedule inspections and have them completed within sales contract time frames, negotiations may take place depending if there are required repairs
2. Arrange Title Company
3. Arrange homeowners insurance
4. Loan Funding Finalizations (If not paying solely with cash)
a. Property Appraisal completed
b. Loan application complete
c. Final Loan Approval
d. Proof of funds to close
e. Make sure to contact utilities, move in permits are in order and post
office notified of new mailing address.
f. Go to closing, get the keys to your new home.

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