The first step in buying a home is to realize that you need an agent. Most buyers start their search on their own and "window shop" for homes using online search sites or going to open houses. This is a great way to get a feel for the market and check your own commitment level. Keep in mind that having an agent at this point in time can fast-track your searching efforts, as they can help identify potential properties matching your criteria as they come on the market. They can also help clarify information and answer questions as you find properties that may interest you.

Choosing the right agent is one of the most important decisions you'll make as a buyer. An agent is going to advocate for you and protect your interests. In fact, their license requires it. They have a great amount of expertise and insight that can help you make the best decision possible.

Once you are ready to get focused on your search, I can help you identify lenders who might best meet your needs. In addition, I have a full list of area mortgage officers. Once you get pre-qualified, we'll be better equipped to find you the right home when it becomes available.

You think you've found the one! The offer will include your price and any other terms or conditions that your offer depends upon. You will also be required to put some earnest money forward to let the seller know you are serious. This goes into an escrow account held at our brokerage and is applied toward your purchase if your offer is accepted. You can lose your earnest money if you back out of the offer and it isn't based on any of your pre-ordained contract conditions. It is wise to include a property inspection as a condition to your offer. That way if major items come up, you can walk away and get your earnest money back, or negotiate a change in terms to the contract. Be sure to read over the sellers disclosure documents, as the seller is required by law to put any known material defects in the home in writing. You will also propose a closing date, which sets the target date for closing when you get the keys and the home is yours.

The seller may come back with their acceptance or a proposed change to your offer price or conditions. Don't worry, you can counter their offer as well. This can be a back-and-forth game until both parties come to an agreement. Once both parties have agreed on the terms in the offer, the property is under contract and the contract gets sent to your attorney for review. Typically the attorney has 3 business days to review and comment on the contract terms. The attorney can disapprove of the terms and cancel the contract, or propose additional changes, after consulting with you. The Seller’s attorney can do the same.

Once you’re under contract, it’s time to schedule your inspection of the home and conduct a radon test. Once these are completed and any changes negotiated with the seller, it’s time to make formal application for your mortgage.

When you apply, you will be providing any additional documents regarding your financial position (bank statements, tax returns, list of debts, etc) that your lender requires and paying the application and appraisal fees upfront. These are typically between $500 and $750. Then your lender can start the underwriting process.

Lenders want to ensure that the home is at least worth the amount they are lending you, so they will order an appraisal. This protects you from overpaying for the home. If you are putting up an all-cash offer, you are not required to have an appraisal.

Once your mortgage has been approved, the seller will complete their updating of the title and survey and your attorney will review these documents for any issues that might arise. Once the review is completed, the closing will be scheduled by your attorney in coordination with the seller’s attorney and bank attorney. On the day of closing, or perhaps the day before, we will walk through the property one more time to be sure everything looks to be in order.

At closing, you will provide your down payment and money for all other closing costs. After signing the mortgage, and related documents, you are now in the possession of the deed and you will get the keys to your new home.