The Buyer's Process

Phase One

Outlining your objectives

• What is your motivation to buy?
• What price range are you considering?
• What is your timeline to move?
• What are your ideal features and “non-negotiables”? 
• What are you looking for in a neighborhood? 

PLANNING AND PREPARATION

• Discuss objectives and processes with your Real Estate Agent.
• Select a lender and begin the loan approval process.
• Obtain a loan approval letter
• Sign an exclusive buyer-broker agreement with your Real Estate Agent Research.
•  Neighborhoods of interest with your Real Estate Agent.

UNDERSTANDING THE MARKET

• Analysis of active, pending, and sold transactions. Review contracts and timelines.
• Personal timing and seasonal considerations.
•  Market forces: supply v. demand, macro v. micro.
• Trends.

Phase Three

Contract Process 

• Wire initial deposit per terms of the agreement.
• Notify the lender to begin the loan process and order an appraisal.
• Sign and return the opening package of contracts.
• Discuss homeowners insurance coverage with your agent.
• Finalize vesting (title) details of ownership.

INSPECTIONS AND DISCLOSURES

• Schedule all desired home inspections, including termite reports.
•  Review all disclosures and reports.
•  Approve or negotiate repairs based on inspection reports.
• Review and approve all seller and state-required disclosures.
• Review and approve the preliminary title report.
• Meet deadlines and remove contractual contingencies.

• Schedule final walk-through.

KEY TAKE AWAY

This is the time for due diligence during the inspection period.