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The Buying Process

Prior to Making An Offer

Determine what areas you want to live in

  •          Figuring out expenses

  •          Viewing the homes

  •          Getting a pre-qualification/approval


Things needed for making an offer

  •       Written offer

  •       Proof of funds/bank statement

  •       Pre-approval letter

  •       Copy of earnest money check (not required)


Financing Your Home


  •       Establishes what you can afford to borrow

  •       Is not an assurance of mortgage approval


  •       Is a much more complete approval

  •       Most sellers want to see this at the time an offer is made


Applying for a Mortgage

The first step after your purchase offer is accepted

The lender may request

  •       Current pay stubs

  •       Bank statements

  •       Credit card statements

  •       Investment/brokerage firm statements

  •       Loan statements

  •       Tax returns, usually for two years


The Escrow Process

An independent imperial 3rd party to facilitate the transaction

  •          Handles deposits and documents

  •          Coordinates with Title and Mortgage




Inspection/Home Warranty

  •       Home warranty provides repair-or-replace coverage

  •       Provides peace of mind

  •       Can be purchased by you or by the seller, as agreed upon in the contract.



  •       Compares the value of the home to others of similar size, features and location. 

  •       Usually required by lenders

  •       An opinion of the property’s value by an independent appraiser.


Title Insurance Policy

  •       Based on a search of public records that discloses whether any       others have a legal claim to the property.

  •       Insures you against loss due to certain title defects


Prior to Closing

  •       A thorough walk-through and verification of condition will take place prior to closing

  •       As your real-estate agent, I will accompany you should a concern arise during the walk-through. I will assist you in resolving it.


Closing The Deal...

The Financing and Closing Process

  1. Loan application is completed and submitted to lender     

  2. Lender orders appraisal, credit report, verification of your employment and assets

  3. Lender provides a good faith estimate of closing and related costs, plus initial Truth In Lending disclosures

  4. Lender evaluates application and support documents, approves loan and issues letter of commitment

  5. Loan documents are signed and notarized in Escrow

  6. Lender disburses/wires funds to the Escrow or Title Company

  7. Required documents are recorded at the County Recorder’s office  transferring title into your name


Congratulations! You Bought Your Home!

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