Home Buying Process
Posted by Paul Caparas on Tuesday, December 16th, 2008 at 1:43am.Buying a home may be one of the largest purchases you will make in your life so here is a quick reference list you can use when you are in the process of buying a home.
1. Get Pre Approved - Don't start looking at homes until you are know how much you can afford.
2. Start Researching - Start researching online on what type of home and location you can afford.
3. Hire a Buyers Agent - Hire a Buyers Agent and tell him/her what exactly what you are looking for in your criteria. Now let them do the reseach for you such as keeping you updated with any New Hot Listings. The good ones sell Fast even in this market.
4. Look at homes - After looking about 3 homes in your criteria, your Buyers Agent will have a really good idea what you are looking for.
5. Offer - You found the home you will love so make an offer. Your Buyers Agent will explain to you the offer process.
6. Accepted Offer - Now you are in Escrow (typically a 30 day Escrow). Every Escrow is different but usually happens is the Seller gives Disclosures and the Buyer does inspections and takes care of the loan. Your Buyers Agent will guide you through Escrow to help you understand what is going on such as Contingencies, Escrow and Title.
7. Sign Loan Docs (if it's not All Cash) - This usually happens a few days before the Close of Escrow.
8. Recording and Close of Escrow - About 3 days after you sign your Loan Docs, the house will get recorded under your name and that is when it is your NEW HOME!!! Congratulations.
This is just a quick reference list. You might be reading this and might be saying, that's it!?! Well there is way more to it. If you are interested in Buying a Home and not working with an Buyers Agent, give me a call or email and we can sit down so I can give you a better explaination of the Home Buying Process. Plus I will tell you the difference on buying a Bank Owned Foreclosure vs. Short Sale vs. Traditional Seller!
If you have any questions, please let me know.
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