ere are the 15 steps that
need to be taken to 4. Find the Home That Matches
purchase a home: Your Needs and Write The Offer
1. The Initial Interview Writing the offer will take
between 1-3 hours
Determine what you need and want
in your new home Complete the purchase agreement
contract
Discuss the parameters of your
search Deliver the earnest money
deposit(this will be held until
Discuss financing and accepted contact is created)
2. Get Pre-Qualified By a Lender 5. Present the Offer
Obtain a pre-qualification letter Prepare a presentation by
highlighting the strengths of
3. Property Tours your offer and your strengths as
a buyer
View available properties that
match your needs and emotions Present the offer to the seller
and the sellers' real estate
Listen to you carefully to find professional
out what features you need in
your ideal home The sellers will either accept,
counter or reject the offer
Provide you with information
about the current market and what 6. Counter-Offer
it means to you
Discuss the counter offer and how Title Report
it relates to your goals, and
prepare a response Physical inspections and pest
inspections
7. Escrow
Property appraisal and loan
When the offer is accepted and approval
has been signed by all parties,
the escrow will be opened 10. Homeowners Insurance Coverage
Your earnest money deposit will Select an insurance company and
be deposited discuss coverage
The Escrow Officer will order a Give the insurance agent the
Preliminary Title Report and send escrow information(they will need
copies to the lender and I to order a copy of the policy for
the new lender prior to escrow
8. Loan Application closing)
Submit a complete loan 11. Signing Documents at the
application and all the necessary Title Company
loan documents to your chosen
lender The lender will send the loan
documents directly to the title
9. The Contingency Period company
Your approval of the sellers You will receive copies of the
Disclosures title and lender documents
Your approval of the Preliminary You will need a current photo ID
The lender will wire the funds to
12. Down Payment and Closing Fund the title company
Bring a cashiers check to the 14. Close Of Escrow
title company(depending on
circumstances) several days prior The deed will be recorded at the
to closing county recorder's office by the
title company(you will receive
The Escrow Officer will prepare a the original back from the county
Buyers' estimated closing in approximately six weeks)
statement, which will itemize
costs and credits, and estimate I will coordinate the transfer of
the total money due the house keys
13. Funding 15. It's Time to Move In!
About the Author:
Hamid Grinage sells Oakland Ca real estate with Prudential California Realty.
Read more articles by:
Hamid Grinage
Article Source: www.iSnare.com 
