The Six Steps of Buying Your New Home

1) Your Mortgage Lender

• Contact a mortgage lender

• Determine your credit score

• Determine how much you can borrow vs can afford

• Determine how much you have for a down payment

• Determine how much you have for a deposit (generally 1% of purchase price)

2) Your Professional REALTOR

• Contact a licensed REALTOR

• Determine a timetable

• Review possible fees and costs

3) Your Home Search

• Determine your ideal location

• Determine your needs vs wants

• Setup home search access

• View homes

4) Your Offers

• Determine home(s) to place an offer on

• Determine price and down payment to be offered

• Determine desired length of escrow

• Write and place offer(s)

• Negotiate counter offer(s) as needed

5) Your Escrow Period

• Day 1) Enter into escrow

• Day 2) Escrow determines preliminary cost worksheet

• Day 3) Deposit given to escrow

• Day 5) Setup desired inspections (pest, roof, general)

• Day 10) Lender orders appraisal

• Day 17) Inspection completed and request repairs if needed

• Day 21) Appraisal completed and loan secured

• 3 Days Before Close) Verify all repairs are completed

• 2 Days Before Close) Meet with lender to finalize loan

• 1 Day Before Close) Meet with escrow to sign final documents

6) Your New Home

• Move into your new home!!!