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It’s important to be aware of your desired lifestyle so that your agent can help you find a home that suits that lifestyle and your needs as well as one that fits in your price range. Let your imagination run when creating your initial list of parameters, then prioritize your list. Consider the following:
- What is my motivation to buy?
- What price range am I considering?
- Obtain a loan approval letter if applicable
- What is my timeline to move?
- What are my ideal features and “non-negotiables”?
- What am I looking for in a neighborhood?
- Research the current market dynamics of supply & demand?
- Look up what is currently listed and has sold around my neighborhood?
Once you’ve signed an exclusive buyer-broker agreement with your agent it’s time to begin searching for your new home starting with the homes already on the market. The right home may be found online, through your agent’s network, and various other sources. Once you’ve found a home you’re interested in, your agent will help you:
- Physically or virtually tour the home
- Determine the best way to finance the home
- Present an offer and your buying situation in the best light
- Negotiate on your behalf to optimize price and terms
- Accept offer and/or advise on counteroffering
When your offer is accepted, you will enter the escrow process which can take 15–45 days. Your agent will help you coordinate the activities that take place during this process which include:
- Initiating the loan process, order an appraisal, and wiring initial deposit to escrow
- Schedule all desired home inspections
- Review all disclosure materials, decide on a home warranty, and homeowners insurance
- Meet deadlines and remove contingencies
Before you get the keys to your new home, the escrow holder will verify that all necessary funds are in, and then it will be disbursed to the seller and other appropriate payees. The finals steps also include:
- Signing and reviewing the closing statement from escrow
- Schedule a Final Inspection before the close of escrow.
- Transferring utilities
- Move in and celebrate!