Houses are typically one of the most expensive purchases one will make in their life. We can help you find a home that meets your needs and budget, advise and guide you through the process, and make sure we’re getting you as best of a deal as we can.
The purpose of doing a pre-approval is to find out how much lenders can loan to you. Based off that amount, we can determine what price range of homes you would be looking at. The lender will also be able to determine if you qualify for any assistance or first time home buyer programs.
Sometimes it may not be possible to find a home within your budget that has the features you want in an area that you like. In these cases, it is best to think about compromises and discuss what are things that you need to have and things that are nice to have.
Most people search through listing aggregators such as Zillow and Redfin, however we have access to all the properties listed on the MLS as well as some off market properties. Be sure to keep an open mind as some properties may fall slightly outside of your criteria, but otherwise be perfect for you.
After finding some properties that you like, the next step is to look into the available documentation. The disclosures and inspection reports (if provided by the seller) will give you an idea of the condition of the property and what may need to be repaired or replaced in the future.
The next step would be to make a list of homes that you are still interested in after reviewing the documentation and we'll start scheduling showings. Seeing the home in person is highly recommended since it'll allow you to closely examine the home and visualize how you would furnish and use the home.
Based off all the information provided to you, we will go over the purchase contract and discuss what would make the offer competitive for this specific property, what would be a reasonable offer price, and what contingencies we should include in the offer.
Once the offer is accepted, the status of the home changes to pending and an escrow is opened. At this point, you will have to deposit the earnest money deposit(EMD) into the escrow account. The amount of the EMD and timeframe for the deposit is specified in the purchase contract by the buyer.
After the offer is accepted, the clock starts ticking. If there are any contingencies, the time frame to clear them are specified in the purchase contract and this is the time to get them done. Be sure to co-ordinate with the lender to schedule an appraisal and make sure everything is on track.
At this point, all negotiation and disclosures will have been settled, read, and signed. Once the loan is approved, the escrow company will then have you sign the loan and closing documentation. After this is completed, the lender will fund the loan and once funded, the transaction will be recorded.
You've finally made it to the end of the transaction! After the transfer has been recorded, you are officially the owner of the home and we can go pick up the keys.
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