MEET AND STRATEGIZE
The first step is to get acquainted over a phone call. My team will then send you a buyers questionnaire to fill out. At the first meeting, we will go over your questionnaire so that I can learn more about your wants vs. needs and what you're looking for in a home, including neighborhoods, pricing, and your timeline.
Before beginning your search, your first step is to get pre-approved for a home mortgage. We work with a couple of fantastic lenders that we can refer you to that will take great care of you. Based on your income and credit history, the mortgage broker will determine how much the bank will lend you, which will help you determine the budget for your search.
Now that you're pre-approved, it's time to start looking at homes either through open houses or private showings that we attend together. Open houses will allow you to freely attend a showing to view a property at your leisure. We will also be attending showings together. If you do attend an open house, make sure to let the agent know we are working together so I'm kept up to date should the availability change.
PACKAGE AND SUBMIT AN OFFER
Once you have seen a home you like, it's time to discuss the offer, which is offer to pay a certain price for the home and with certain conditions. My team and I will provide advice on an offer strategy and how to best get an offer accepted. .
CONDUCT HOME INSPECTION
A home inspection needs to be conducted within 7 days of your accepted offer. We can provide you a list of great home inspectors in the area. Most home inspection costs are in $500-$800 range.
SIGN CONTRACT AND PUT DOWN DEPOSIT
The seller's attorney will draft a purchase and sale contract and deliver it to your attorney. Once the P&S is finalized, both parties will sign the contract. The signed contracts are then returned to both parties and the buyer will send in their P&S deposit monies, which is usually the balance of 5% down. This deposit will be a applied to your down payment.
FINAL LOAN COMMITMENT
Ordinarily, somewhere between 7-10 days prior to closing, your lender will issue you a final commitment on your loan. It's the buyer's responsibility to make sure the lender has all the required documentation in order to provide the final loan commitment. The bank then issues clearance to close.
CLOSING SCHEDULED BY ATTORNEYS
Your attorney will make arrangements to set up a time for your closing at a time and location that is convenient to both you and your attorney.
A final walk-through of the property is performed just prior to closing. The walk-through confirms that no damage has been done to the home since the time of the inspection, that the major systems and appliances are in working order, and any inspection items have been addressed.
Once all the conditions of the contract have been satisfied, this closing is held. The closing documents are signed, payment is exchanged, and you will receive the keys to your new home!