Buying – A Step-By-Step Process

This is how I will assist you as Your Orange County Realtor/Agent:

1. Initial Interview

Determine your needs, wants, and desires in a home.

Discuss real estate parameters.

2. Pre-Qualify You With a Lender

I will guide you to financial institutions to obtain the best financing available.

Home Loan pre-qualification approval letter is obtained from lender.

3. Home Viewing

I will show you available homes that suit your needs.

I will listen to you carefully to help find your “ideal” home.

I will educate you about the current market.

4. Target a Home That Is “Ideal” and Write the Offer

I will write the offer for you.

This procedure will take 1-3 hours.

Deliver your earnest money deposit.

5. Present the Offer to the Seller

I will prepare my presentation by highlighting the strengths of your offer and your strength as a buyer.

I will present your offer to the sellers and the seller’s agent.

The sellers will either accept, counter or reject your offer.

6. Counter Offer

Any counter-offers are discussed and prepared.

7. Escrow

Once the offer is accepted, escrow is opened.

Earnest money is deposited at this time.

Escrow orders a Preliminary Title Report (“prelim”) and sends copies to your agent and lender.

Escrow instructions are issued to all parties along with the opening package.

8. Loan Application

A completed loan application is submitted to the lender of your choice with all necessary documentation.

9. Contingency Period

Buyer receives and approves Seller’s Real Estate Transfer Disclosure Statement.

Buyer approves the Preliminary Title Report provided by the Title Company.

Loan approval, including an appraisal of the property.

Physical inspections/pest inspections are completed.

10. Homeowners Insurance Coverage

Buyers obtain a Homeowners Insurance Policy for their new home and the insurance information is given to escrow.

Escrow orders a copy of the homeowners’ insurance policy for the new lender prior to escrow closing.

11. Signing Documents

Buyers need to bring current photo ID to sign notarized loan documents.

Copies of title and lender documents are given to buyers.

12. Down Payment and Closing Funds

The escrow officer provides you with a Buyer’s Estimated Closing Statement which itemizes your costs and advises you of total monies due.

Buyer provides a cashier’s check several days prior to closing.

13. Funding

The lender sends funds to the Title Company.

14. Close of Escrow

The deed is recorded at the County Recorder’s office by the Title Company. (You will receive the original back from the County Recorder in approximately two months.)

Keys are transferred from buyer to seller.

15. You Are Ready to Move In

Welcome home!