Steps to a Successful Offer
Congratulations on starting your home search!! Below are some of the helpful steps in the process of finding a home. We will be completing all of these steps together and I will be helping you as we go. During this process if you have any questions please feel free to contact me at any time. The below is a quick outline, but feel free to ask me if you have any questions!
• GET PRE-APPROVED WITH A LENDER. A pre-approval is the first step in determining just how much of a home you can comfortably purchase and a good lender can help you de-mystify this somewhat confusing step. (See some of my favorite lenders on the VENDOR page of my website!)
• DEFINE YOUR SEARCH CRITERIA. This is your chance to sit down with your realtor and talk about what you want in a home. Consider all the factors that are important to you including proximity to work, school districts for children, security of the neighborhood, etc.
• THE PORTAL SEARCH. Once I know what you’re looking for, I’ll set up an internet search portal for you that will email you listings that match your search criteria.
• VISITING PROPERTIES. This is the fun part! Choose a date and time you are available to see the properties you found in your portal. If the properties are occupied, I will make an appointment for our viewing. If it’s vacant, we can go at any time!
• FINDING A HOME YOU LIKE. Once you find a home you like, I will take a quick moment or two to do some homework and look at market values in that specific area.
• MAKING AN OFFER. Once we’ve discussed the property and the market conditions and market price, we’re ready to make an offer! We’ll sit down and go over several documents that make up your offer. I’m sure to go over the purchase offer in detail the first time we review the documents!
• OFFER ACCEPTANCE. After your offer has been submitted, your offer will be accepted, countered, or rejected. If your offer is countered, it is up to you if you choose to accept the counter offer or write up a second counter offer with new terms. Hopefully your offer will be accepted and you’ll officially be in escrow!
Steps to a Successful Escrow
Congratulations on getting into escrow!! Below are the steps to complete a successful 30-45 day escrow. We will be completing all of these steps together and I will be reviewing all of the documents with you as we go. During this process if you have any questions please feel free to contact me at any time.
Note: If you are purchasing a short sale, the contract/purchase agreement becomes official when we receive written confirmation from the short sale lender that they have accepted our offer. Your calendar starts the day after receiving the written approval letter.
Day 1 – 3:
• SEND IN YOUR DEPOSIT CHECK TO THE TITLE COMPANY. Your earnest money deposit is due within 72 hours of contract acceptance. This is usually 1% of the price of the home showing good faith in buying the property.
• SCHEDULE THE PEST INSPECTION,HOME INSPECTION, & ANY OTHER INSPECTIONS YOU WANT DONE. Walk the neighborhood!
• ORDER THE HOME APPRAISAL WITH YOUR LENDER to validate the purchase offer price of the home.
Day 1 thru 17:
• You have 17 days to do all the inspections you want and remove your contingency for inspections and appraisal.
• REVIEW SELLER DISCLOSURES AND REPORTS & learn about the property you are purchasing.
• CONFIRM HOMEOWNERS INSURANCE to meet your lender’s requirement to fund your loan.
• CHOOSE YOUR HOME WARRANTY PLAN if this is part of the contract.
• CONFIRM YOUR LOAN WITH YOUR LENDER AND REVIEW GOOD FAITH ESTIMATES. CONFIRM ANY UNDERWRITING REQUIREMENTS.
DAY 21 (or prior):
• REMOVE ALL OF YOUR CONTINGENCIES letting the seller know that we want to move forward with escrow and the purchase of your future home.
DAY 25 +/-:
• Your lender will send loan documents to the Title Company. You will need to make an appointment with the Title Company to sign all deed and loan documents. I would like to attend this meeting with you to answer any questions and be of any assistance.
• We will walk through the property to confirm it is in the same condition as when you made the offer.
LAST 1 or 2 DAYS:
• Your lender will fund your loan, title will record your deed, and you will get keys to your new home!!
• Congratulations – you’re a homeowner!
That being said, every offer is unique and has its own hurdles to pass through. I’ll be there to help you through every step of the way.