1
Qualify
2
Search
3
Offer and Negotiate
4
Prepare to Close
5
Closing
Qualify
The first step will be choosing a lender and obtaining a pre-approval letter.
- Direct Lenders vs. Mortgage Brokers - Banks and Credit Unions lend their own money via in-house programs. Mortgage Brokers are intermediaries who represent many lenders and loan programs.
- Loan Terms - Ask if your lender's rate quote includes "points" to avoid charges. Ask for an estimate of fees and charges to compare total closing costs. Make sure there are no prepayment penalties for your loan type. Finally, ask if a Mortgage insurance Premium is required.
- Payment Information - Monthly home expenses consist of PITI: principal, interest, tax, and insurance. Make sure home insurance and property tax are included in your monthly payment estimates. Many lenders require monthly prorated escrow payments of tax and insurance.
- Pre-Qualification Letter - Securing this letter before starting your search is ideal. Most sellers will not respond to an offer that does not include a pre-qualification letter. Most lenders require documentation (tax returns, pay stubs) before issuing a conditional approval letter.
Search
Easily find homes or land on our website that fit your needs.
- Resale Homes and For Sale By Owner Homes - Resale Homes are the most common purchase type. We'll help you evaluate floorplans, neighborhoods, and amenities to find the right fit for your goals.
- New Construction, Custom Homes, and Land - New construction homes typically require less maintenance and come with builder warranties. In recent years, there have been a few changes to longstanding construction practices you'll need to be aware of.
Offer and Negotiate
We will help you make an offer and negotiate in your best interests.
- Due Diligence - We will draft an offer based on market conditions, market data, and your preferences.
- Contract Review - We will review the contract terms together, answer your questions, and make any necessary revisions.
- Offer Submission - We will deliver your signed offer and pre-qualification letter to the seller's agent.
- Seller Response and Counter Offers - The seller's agent will respond to your offer with an acceptance, a counter-offer, a notice of multiple offers, or an invitation to resubmit.
- Agreement & Signatures - Once all parties agree on the price and the terms, they will sign and return the contract. The contract is now effective.
Prepare to Close
Review all the necessary documents and prepare for the big day.
- Option Period - Deposit option fees and earnest money promptly in order to avoid your contract being jeopardized.
- Line Up an Inspector Promptly - Reputable home inspectors are in high demand and book up fast. Schedule your inspection within 24 hours of going under contract. Most inspectors are happy to do a post-inspection meeting in person or by phone to discuss their findings and suggested repair priorities.
Closing
Once you've signed all the paperwork, you can celebrate and move forward with confidence!
- Pay Attention to Your Closing Costs Credits - Negotiated credits to closing costs are "use it or lose it". You can't collect the balance if it goes unused.
- Prepare For Your Walk-Through - Walk-throughs are an important part of the due diligence process. We will walk the property together and check that negotiated repairs are completed, that the seller has vacated the home, and that no damage was incurred during the move-out process. We can also make sure any negotiated items remain in the home.
