Home Buyer’s Checklist

  • CONTACT A LENDER/MORTGAGE BROKER.  Find someone with whom you are comfortable.  (see my recommended list)  This is extremely important, as they help you decide how much you can afford to spend!  You will also want to be pre-approved before you search for your home.
  • WANTS AND NEEDS.  What type of home do you want?  How many bedrooms and baths?  Busy street, a yard, fenced?  What do you like and dislike about your current home and what would you add or subtract?
  • LOCATION, LOCATION, LOCATION.  What neighborhood do you want to live in?  Close to where you currently are?  What about schools and the proximity to work, shopping, etc.
  • LET’S GO LOOKING.  I will preview several properties that meet your criteria and then schedule times for you to see them.  An alternative is to have me email newly listed properties, which fit your criteria, as they come on the market, preview them and show them to you according to your preferences.
  • FINDING THE RIGHT ONE.  When we find the right one, we will sit down and write up a Purchase and Sale offer.  I will present your offer to the seller and agent, in person.  NEGOTIATION STARTS HERE.  I will endeavor to get the best terms and conditionsfor you.  Earnest Money accompanies the offer.  It is approximately 2-3% of the sale price and goes toward the down payment.  You will want to show the seller that you are a serious buyer.
  • INSPECTION.  When the offer and terms are agreed to with the seller an inspector of your choice will come out and inspect the home.  (see my recommended list)  This may occur prior to the offer, if the home is in a competitive area.  All parties should attend the inspection, as it is an educational experience for the buyer.  Plan on spending 2-4 hours and be prepared to spend $300-$500 at the conclusion.  (This is $ WELL SPENT)!
  • APPRAISAL.  When the inspection has been accepted, the lender will schedule an appraisal to qualify the price of the home.
  • ESCROW.  After the appraisal is finished and the lender is satisfied, paperwork goes to escrow.  (see my recommended list)  Escrow acts as an independent and impartial third party who handles the signing of all documents, disbursement of funds, and the recording of records with the appropriate county for both buyer and seller.
  • SIGNING.  Signing for the sale of the home & loan occurs several days before closing at the escrow office.  Plan on about one hour and bring you driver’s license. The escrow office will call you and the seller to make the signing appointments.
  • CLOSING/POSSESSION.  Closing happens on the date agreed upon in the purchase and sale agreement.  Ownership is transferred from the seller to you and the new information is recorded with the appropriate county.  Possession can also occur on the same date or on an agreed upon date between you and the seller.