The Home Buying Process

1. MEETING

We sit down in person or online and talk about the buying process in detail and educate you about how it all works in the current market. I listen to what your dreams and goals are for the purchase and discuss time frames, priorities, and ways that I can help you.

2. LOAN APPROVAL

Contact a lender for a loan preapproval. You will need a loan preapproval before we start looking or have proof of funds if you are using cash for the purchase. Don’t stress - I have great referrals!

3. SEARCH

New listings come on the market each day and some sellers will wait for a week to look at offers. I will set you up on a search on the Northwest Multiple Listing Service (NWMLS) and will edit and send listings to you each day. You can also send me listings you find as well but all listing will aggregate from the NWMLS.

4. MAKING AN OFFER

When you have found a place you love, we will partner together to work to make a winning offer, but also get you the best price and terms that I can. I’ll go over all the purchase documents so you understand what you are signing and what is being disclosed. And I will advise you on the best strategies to getting an offer accepted and communicate with the listing agent about the seller’s wants and needs.

5. INSPECTION

The inspection is a great opportunity to learn more about the house. Qualified and licensed inspectors of your choice will do thorough reports and I can also employ specialists to examine things further. You can use this information to negotiate based on what was found. Unless we have written different language into the contract, the buyer can walk away during this part of the process and retain their earnest money.

6. PRE-INSPECTION

When more than one buyer wants a home, it can be competitive. You may want to have a structural and sewer pre-inspection and then waive the inspection on the contract. Often a seller will provide a pre-inspection and you can choose to rely on this inspection or have an inspector of your choice perform a pre-inspection for you. You can always choose to not make offers on homes that may be competitive.

7. ACCEPTANCE

Your offer has been accepted and we now have a binding contract. Your earnest money will be liquidated into your escrow account and will be a credit to you at closing. We open files at escrow and send the contract to the lender so they can lock your rate. You will get homeowner’s insurance and start packing up your current home.

8. APPRAISAL

Your lender orders an appraisal of the home. Should your house appraise for lower than the contractual price, you are only obligated to buy it at the appraised price. However, the seller is not obligated to sell it to you at a lower price. Both sides may negotiate further following a low appraisal.

9. SIGNING

The escrow company will schedule you to sign documents a few days before closing. You will sign at the escrow office or with a mobile notary. You will bring in a cashier’s check or arrange to wire your funds which will include your down payment and closing costs.

10. CLOSING

Congratulations! Official closing is when the deed has been recorded under your name at the county building. Once that happens, the home is yours and I can bring you the keys! And finally, CELEBRATE!