The Home Purchase Process

Select an Agent 

  Review recommendations and local agents

  Interview and select your agent

  Review and sign any upfront paperwork

  Get references for mortgage brokers

  Begin review of financing options

Prequalification

  Run a free credit report on yourself

  Interview mortgage brokers

  Figure out how much you can afford

  Determine which loan package is right for you

  Select a mortgage broker

  Fill out application and provide documentation

  Get pre-approval letter confirming loan details

Home Search

  Identify home needs and wants with your agent

  Review optional areas based on needs and price range

  Set plan with your agent for new listing updates

  Preview homes and explore neighborhoods

  See lots of homes and refine the best options

Purchase Offer

  Identify a home you want to purchase

  Discuss offer options, strategy and competition with
your agent

  Determine offer details (price, financing, inspections, closing, etc.)

  Agent to write and submit the offer and review response with you

  Negotiations until an accepted offer

Open Escrow

  Receive a copy of the ratified contract

  Agent to open an escrow account

  Deposit earnest monies

  Review timeline and milestones in the offer

  Initiate next steps in financing process

  Take steps to meet all contractual obligations

Inspections

  Agent to schedule all inspections

  Meet the inspectors at the property for inspections

  Review seller disclosures, inspection reports and agent visual inspection

  Make requests and schedule any follow up inspections with your agent

  Determine next steps with your agent

Secure Financing

  Agent to provide mortgage broker with ratified contract

  Buyer to provide additional requested documentation

  Appraisal ordered and performed

  Review appraisal results

  Provide any follow up requests from the lender until final sign off

  Receive final approval letter

  Determine next steps with your agent

Final Processes

  Continue to review all required contractual and
legal obligations

  Review timeline and contingencies (conditions) of
the contract

  Continued negotiations if applicable

  Secure a Homeowner’s Insurance Policy

  Sign all final paperwork

  Sign loan and required documents through the
title company

  Deposit remaining funds for down payment and closing costs

Close Escrow

  Receive closing confirmation

  Get Keys

  Move In!