The Home Buying Process

The Loan Process Application - Fill out an application and provide supporting documents. Documentation - The lender normally requests a credit report, employment history, and personal financial conditions. Loan Submission & Approval - The lender will review your application and supporting documents, and submits your completed file for approval. Documents are Drawn - The lender will prepare your loan documents and forward them to the title company. Funding - The completed loan documents are forwarded back to the lender, and the lender sends the loan funds to the title company. Closing - The title company records the change of ownership at the county recorders office, and escrow officially closes.

Step 1: Choose a Realtor
Having decided to buy a home, the first step in the process is to select the Realtor® with whom you will be comfortable working with to get the job done. During our first meeting, I will listen to your wants and needs and walk you through the buying process.

Step 2: Get Pre-Qualified
A lender pre-qualifies you by determining what loan programs may be available to you and suggests programs that meet your short and long term plans. You will also find out what your monthly payments and down payment will be. A letter of pre-qualification (or pre-approval) from a lender enhances your position when presenting an offer.

Step 3: Find a Home
I will help you find a home that fits your requirements. I have the tools to help you find the right property in the right location at the best possible price.

Step 4: Make an Offer
Having found the home of your choice, I will do all the necessary research to help you structure an offer. I will draft the purchase agreement and explain all clauses and contingencies so that you are well informed to make decisions.

When the seller respond to your offer, I will explain your options and negotiate with the seller. When the price and terms are accepted by all parties, the next step is to open escrow.

Step 5: Manage the Escrow
Escrow is a process for handling the details of the transaction from the time the purchase agreement is accepted until title is transferred to the buyer. The neutral third party receives, holds, and distributes funds and documents and makes sure that the terms of the purchase agreement are carried out.

When all of the conditions of the purchase agreement have been met, you will sign escrow instructions, typically in the week prior to the anticipated closing date, and deposit the balance of your down payment and closing costs to escrow.

Step 6: Close Escrow
The ‘escrow closing’ signifies the change of ownership from the seller to the buyer and usually includes the execution and recording of the Grant Deed and Deed of Trust. This completes the real estate transaction, and you receive the keys to your new home!

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