Choose and Meet Your Realtor

   Building a solid relationship with a realtor is important. He or she will be working closely with you in finding the perfect home to meet your unique needs. Professional realtors have extensive market knowledge and will provide guidance in your buying process.

Finding the Perfect Home

   Your realtor will show you homes based on the criteria that you have given him. The more precise and direct you are with your realtor, the more successful your search will be.

Determine the Seller's Motivation

   Once you have found your perfect preoperty, your realtor will research the homeowner's motivation for selling, helping leverage your negotiating power in an offer to purchase.

Offer to Purchase

   Your realtor will draft a purchase agreement, advising you on customary practices, local regulations, and protective contingencies. You will need to provide an "earnest money" deposit at this time, usually ranging from 1% to 3% of the purchase price (deposit amount is not cashed until your offer is accepted by the seller).

   Your realtor will present your offer to the seller's realtor. The seller will then either accept your offer, counter your offer or reject your offer.

Seller's Response

   You and your realtor will review the seller's response. Your realtor's knowledge of the process and strong negotiating skills will help you reach an agreement you feel good about.

Open Escrow

   Your realtor will open escrow for you once the purchase agreement is accepted and signed by all parties. Your "earnest money" will be deposited at this time. All funds associated with your transaction, either held, received, or distributed, will be handled by your escrow or title company.

Contingency Period

   This time period is determined by your purchase agreement and is used to obtain and perform the following items:

• Physical Inspection of Property
• Property Pest Inspection
• Property Appraisal
• Secure a Lender
• Obtain Loan Approval
• Approval of Seller's Transfer Disclosure Statement
• Preliminary Report Approval from the Title Company
• Satisfy Purchase Contingencies

Homeowner's Insurance

   Your realtor will work with your escrow officer and insurance agent to ensure your policy is in effect by the close of escrow.

Down Payment Funds

   Prior to the closing date of escrow, you will need a cashier's check or wire transfer.

Close Escrow

   You will sign all loan documents and closing papers when all conditions of the purchase agreement have been met. After you deposit the balance of your down payment and closing costs to the escrow officer, your lender will deposit the balance of the purchase price. The County Recorder's office will record the deed, and you will take ownership of your home.