Step one is figuring out your budget for a new home. The best way to do this is to meet with a mortgage professional that will review your income, assets, and credit history in order to pre-approve you for a loan. Not only does getting pre-approved allow you to narrow your home search, but it also makes your offer stronger when it comes time to buy. If you don’t currently have a lender, I would be happy to recommend one. Call me 360.914.7585.
When it comes time to make an offer on a home, I will negotiate on your behalf in order to attain the best terms for you. This can include negotiating the price, repair costs, timelines, and contingencies.
This is the legal contract buyer(s) and the seller(s) enter into once the buyer(s) offer has been accepted by the seller(s). It outlines the terms and conditions of the sale and is signed by both parties.
Earnest money is when you agree to deposit a percentage of the home’s asking price into an independent account to demonstrate to the seller(s) that you are serious about buying. In return, the seller(s) agree to take their home off the market. When the sale closes that money is put toward the down payment or closing costs.
Once the Purchase and Sale Agreement is signed, a home inspector is hired to examine the home’s health, safety, and major mechanical systems. If any issues arise from an inspection, the buyer may be able to renegotiate their offer.
After your offer is accepted, the next step is to get final loan approval. During this process, the lender will decide if they are willing to approve your mortgage based on things like your creditworthiness, the title history, and the appraisal of the home you want to buy.
This is a report for you and your lender detailing the history of the home that you are buying to ensure there are no legal barriers to purchasing it.
Escrow is an impartial third-party process in which documents and funds are deposited by buyers, sellers, and lenders to facilitate the closing of a real estate transaction.
During this final step of the home-buying process, ownership is transferred from the seller(s) to the buyer(s), closing costs are paid, and a number of documents are signed. After closing is finalized and recorded, the home is yours!