Buying a home involves several stages. Below is a list of the more common steps during a residential transaction. Your situation may vary and it is best to contact your real estate professional for more information.

Common Steps for Buying a Home

1. Initial Meeting  

Select your real estate agent. Determine needs and wants Determine financial eligibility.

2. Loan Qualification

Discuss finances, Obtain pre-qualification

3. Find a Home

Select an affordable property that fits your needs. Discuss offer with Andreas. Buyer reviews contract with Andreas. Andreas presents offer to selling side.

4. Present and Negotiate Offer

Buyer prepares "earnest money" deposit (typically, 1 to 3% of purchase price). Seller accepts offer (Seller can accept your offer, counter your offer, or reject your offer).

5. Open Escrow

Deposit "earnest money" into escrow. Escrow will order Preliminary Report.

7. Contingency Period

Conduct Physical Inspection of property by a qualified inspector. Approve seller's Transfer Disclosure Statement. Approve Preliminary Report. Conduct property appraisal. Obtain loan approval from lender. Perform termite inspection and certification.

8. Obtain Homeowner's Insurance

Select insurance company and coverage Insurance will be in effect at close of escrow.

9. If applicable, obtain Home Warranty insurance

10. Sign Documents

Title company receives signed documents.

11. Down Payment

Need cashier's check or money transfer prior to closing date.

12. Closing the Escrow

Deposit down payment and closing costs to escrow. Lender sends balance of purchase price to Title Company. Deed is recorded with County Recorder's office.

Your Real Estate Agent will get you your keys and you're ready to move in!