| Here are the 15 steps that need to be taken to | | | | The Escrow Officer will order a Preliminary Title |
| purchase a home: | | | | Report and send copies to the lender and I |
| 1. The Initial Interview | | | | 8. Loan Application |
| Determine what you need and want in your new | | | | Submit a complete loan application and all the |
| home | | | | necessary loan documents to your chosen lender |
| Discuss the parameters of your search | | | | 9. The Contingency Period |
| Discuss financing | | | | Your approval of the sellers Disclosures |
| 2. Get Pre-Qualified By a Lender | | | | Your approval of the Preliminary Title Report |
| Obtain a pre-qualification letter | | | | Physical inspections and pest inspections |
| 3. Property Tours | | | | Property appraisal and loan approval |
| View available properties that match your needs and | | | | 10. Homeowners Insurance Coverage |
| emotions | | | | Select an insurance company and discuss coverage |
| Listen to you carefully to find out what features you | | | | Give the insurance agent the escrow |
| need in your ideal home | | | | information(they will need to order a copy of the |
| Provide you with information about the current | | | | policy for the new lender prior to escrow closing) |
| market and what it means to you | | | | 11. Signing Documents at the Title Company |
| 4. Find the Home That Matches Your Needs and | | | | The lender will send the loan documents directly to |
| Write The Offer | | | | the title company |
| Writing the offer will take between 1-3 hours | | | | You will receive copies of the title and lender |
| Complete the purchase agreement contract | | | | documents |
| Deliver the earnest money deposit(this will be held | | | | You will need a current photo ID |
| until and accepted contact is created) | | | | 12. Down Payment and Closing Fund |
| 5. Present the Offer | | | | Bring a cashiers check to the title company(depending |
| Prepare a presentation by highlighting the strengths | | | | on circumstances) several days prior to closing |
| of your offer and your strengths as a buyer | | | | The Escrow Officer will prepare a Buyers' estimated |
| Present the offer to the seller and the sellers' real | | | | closing statement, which will itemize costs and |
| estate professional | | | | credits, and estimate the total money due |
| The sellers will either accept, counter or reject the | | | | 13. Funding |
| offer | | | | The lender will wire the funds to the title company |
| 6. Counter-Offer | | | | 14. Close Of Escrow |
| Discuss the counter offer and how it relates to your | | | | The deed will be recorded at the county recorder's |
| goals, and prepare a response | | | | office by the title company(you will receive the |
| 7. Escrow | | | | original back from the county in approximately six |
| When the offer is accepted and has been signed by | | | | weeks) |
| all parties, the escrow will be opened | | | | I will coordinate the transfer of the house keys |
| Your earnest money deposit will be deposited | | | | 15. It's Time to Move In! |