locally owned and operated, full service real estate title and settlement company
1) Hire a Buyer’s Agent
A buyer’s agent will represent only you and have a fiduciary responsibility to look out for your best interests.
Buyer’s agent may ask you to sign a buyer’s broker agreement, but it is the seller who pays the commission.
Interview agents until you find an agent you trust and with whom you feel comfortable.
2) Get PreQualified / Preapproved
Order a free credit report online and fix mistakes, if any.
Ask your agent for a referral to a mortgage broker, but also compare rates offered by your own bank and / or credit union.
Ask the lender to give you a loan pre-approval letter, which means they verify your income and pull a credit report.
Determine your maximum loan amount, but choose only a mortgage type that you understand and a payment level with which you feel comfortable, which may very well be less than the maximum for which you are approved.
3) Comply With Lender Requirements
Lenders may ask for additional information.
Do not make home buying mistakes such as altering your financial situation while in escrow.
4) Order Homeowner’s Insurance Policy
Order your homeowner’s insurance early!
5) Conduct Home Inspection
Hire a reputable home inspector. Ask your Realtor who they recommend.
Bring a home inspection checklist with you.
Attend the home inspection.
6) Do Final Walk-Through
Do not pass up doing a final walk-through.
Inspect the property to make sure it’s in the same condition as when you agreed to buy it.
7) Sign Loan/Escrow Documents and Deposit Funds
Bring a valid picture ID and a second ID.
Bring a certified check payable to escrow.
Consider asking your bank to wire the funds to escrow and know what your settlement company requires.
8) Close Escrow
Your property deed, seller’s reconveyance and deed of trust will record in the public records.
You and your agent will be notified when the title is recorded.
After recordation, unless your contract specifies otherwise, the property is yours.
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