The Homebuyer’s Roadmap

Let’s Break Down the Process:

  • Find a local REALTOR® who is knowledgeable about the neighborhoods you are considering, knows values, and who you can trust.

  • It contains information such as the status of your credit accounts and your payment history. This gives you time to correct errors.

  • You’ll need to think about more than the down payment amount. You’ll be responsible for paying for an appraisal, closing costs, and other miscellaneous expenses - such as a home inspection. We recommend budgeting about 1-3% of the purchase price for closing costs, in addition to your down payment amount, as well as two months in reserve.

  • Based on your income and credit history, a lender will determine how much home you can afford, which will help you determine the price range for your search.

  • We’ll coordinate in-person private showings or open house tours, based on the listings you’re interested in that match your criteria.

  • First, we need to talk strategy — Are there other offers? How long has this home been on the market? What are the comps? What is the seller looking for? What contingencies should we include? Plus a multitude of other variables to keep track of! I will negotiate with the seller on your behalf for your best interest.

  • You should have already previewed any seller disclosures and reports prior to writing an offer. But if not, now is your time to review all the details and, if needed, arrange additional inspections.

  • We’ll need to make sure all contingencies in the offer have been satisfied; inspection, appraisal, or loan contingency. Once your contingencies have been satisfied and your financing has been approved, you’ll receive your final loan commitment and clear to close!

  • The day of closing, we will meet you at the title company and you will wet sign all contract and lender documents. Then, the title will record with the county, then transfer to you, and you will officially become a homeowner!

Costs to Consider

EARNEST MONEY DEPOSIT

Once an offer gets accepted, you’re required to deposit “earnest money” into an escrow account within 2-3 business days, which is typically 1% of the purchase price and goes toward your down payment amount.

APPRAISAL

Appraisals are required by your mortgage lender to provide a sound estimate of the market value of the home. An appraisal typically costs between $500-$700 depending on the appraisal company and size of the home.

HOME INSPECTIONS

Home inspections range in cost between $365-$800 depending on the home’s location and size. If the seller has already paid for and provided a recent inspection, you have the option to skip an additional inspection if you choose.

CLOSING COSTS

Closing costs include fees for legal, loan, insurance, and any other expenses associated with buying a home. These costs, ranging from 1-3% of the purchase price, involve lenders and third parties like escrow and title companies.

Let’s Find Your Perfect Home!