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.
Select real estate agent.
Determine needs and wants.
Determine financial eligibility.
Find a Home
Select an affordable property that fits your needs.
Discuss offer with agent.
Buyer reviews contract with agent.
Agent presents offer to selling side.
Conduct Physical Inspection of property by a qualified inspector.
Approve seller’s Transfer Disclosure Statement.
Mortgage/Loan process continues.
Obtain Homeowner’s Insurance
Select insurance company and coverage.
Insurance will be in effect at close of escrow.
Obtain mortgage or loan pre-qualification/approval.
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).
Deposit “earnest money” into listing brokers trust account.
Buyers lender to order title work/commitment.
Loan and Title Processing
Approve title work/commitment.
Property appraisal ordered and completed.
Obtain loan approval from lender.
Closing appointment coordinated with the parties by TitleSmart.
Need cashier’s check prior to or at closing.
Lender sends Loan funds to TitleSmart.
At the closing appointment, all escrow documents are fully executed and funds are disbursed by TitleSmart.
Enjoy some awesome, fresh-baked cookies, Caribou coffee and get your celebratory photo taken on our “Red Carpet.”