I just wanted to share an outline of events for buyers that I give to all of my clients. It’s a list that I created myself to help out either first time buyers or someone who has bought a home awhile ago and just needs a refresher. Enjoy ☺
Buyer’s Outline of Events
- If you haven’t already, you should first meet with a lender to get a pre approval letter and determine what your purchasing options are
- Work with your Realtor to search for the property of your dreams. Your Realtor can set up an automatic search for you online and send you listings as soon as they come on the market and you can also search for homes online by yourself. I always encourage my clients to do a drive by anylistings they are interested in so that they can get a feel for the neighborhood and then they can call to schedule an appointment to see it
- Offer on the home you decide is right for you. Your offer may be countered, accepted or rejected if unreasonable
- Once Mutual Acceptance is received: You have 2 days to deliver your earnest money check to escrow agent. You usually have 10 day to have your home inspection conducted. Keep in mind that if this is a short sale, none of the contingencies begin until bank approval has been obtained
- After inspection is satisfactory, your bank will order an appraisal of the property.
- You should begin to shop for home owner’s insurance policy. (usually good to start with the company you have car or rental insurance with)
- You will continually be in contact with your lender and Realtor to receive updates and be advised if anything else is needed from you
- Within about 1-3 days of the close date, the escrow agent should call you to schedule a signing of closing docs. (this can’t be scheduled until the escrow agent receives your lender’s docs for you to sign)
- When you have your sign date, you should call utility companies to arrange for services to be put in your name as of the close date
- Sales typically close within 24 hours of both parties signing. (unless over a weekend or holiday)
- Your Realtor will call you to schedule a time to meet at your NEW HOME to get your keys!
Congratulations You’ve Bought a Home!!
I hope this outline clears up some of the steps involved. Buying a home can be tricky, most people only buy 1 or 2 in their lifetime. Lucky for you, it is something that I am involved with every single day. If you would like my complete buyer’s packet feel free to let me know. I would love to get you a copy. I’m also available to answer any questions.
Thanks for reading,
Danielle