The Buyer Experience
Let’s find your dream home.
Erica’s step by step guide outlines what to expect during the home buying process.
1 | Get pre-approved
The very first step in the home buying process is obtaining a pre-approval letter. We’ll connect you with a trusted lender who will review your finances and help you figure out your budget.
2 | Meet and discuss goals
During our one-on-one meeting we’ll walk through what you’re looking for in your future dream home as well as location, pricing, timeline, and other important amenities.
3 | Find the right property
We’ll make sure you receive the latest and greatest properties via your personalized search criteria. From there, we’ll arrange private showings and attend open houses with you until we find the right home.
4 | Strategize and submit offer
Once we identify a property that you’d like to buy we will review a comprehensive market analysis and gather relevant information on items that are important to the seller. From there, we’ll discuss price and terms for the offer package.
5 | Get an offer accepted
Congratulations on your accepted offer! With the most challenging part of the process behind you, it’s time to hire an attorney to represent you in the transaction and begin the due diligence process. Your first deposit for the property is also due at this time and will be held in escrow until closing.
6 | Perform due diligence
During this window between getting your offer accepted and signing the Purchase & Sale agreement we have the opportunity to perform a home inspection and review any other important information.
7 | Sign P&S agreement
The Purchase & Sale Agreement is drafted by the seller’s attorney and reviewed by your attorney. Your attorney will walk through the document with you and make any necessary adjustments. Once finalized, all parties will sign and a second deposit will be due and held in escrow until closing.
8 | Finalize loan application
After the P&S Agreement is signed, you’ll finalize your loan application with your lender and they will order an appraisal of your new home for your loan file. During this time, your attorney will perform a title search to ensure that everything is clear ahead of closing.
9 | Obtain loan commitment
Once your lender has gone through all of your documentation and performed their due diligence they will issue a letter of commitment for your loan.
10 | Review final closing figures
At least three business days prior to closing your lender will provide the final figures needed to close on your home. This is referred to as the “cash to close”. You’ll want to confirm that your funds needed to close are available and the method which you will provide those funds to your attorney for closing.
11 | Perform final walkthrough
About one to three days prior to the closing you’ll have the opportunity to walk through the property to ensure that it is ready for closing.
12 | Celebrate closing day!
Once all of the conditions set forth in the Purchase & Sale Agreement have been satisfied the closing can be held. Documents are signed, payments are made, and records are uploaded to the registry of deeds. After this is all done, you’ll receive the keys to your new home. Congratulations!