Home is where the heart is.
Dream it.
My goal is to understand you and your goals well enough that I can help you find a home where you will thrive. I will use a brief questionnaire, or our first meeting together, to understand your unique circumstances. Some of the things we will discuss: Family Structure & Needs, Lifestyle Preferences, Timing: Short & Long Term Plans, Budget & Finances.
Buying a home can feel complicated and overwhelming. As an agent, it’s my job to ease that burden and guide you through the process. I do this every day, and bring that expertise into every transaction. But a huge part of my job is educating clients so they feel comfortable with each step we take and every decision they make. Here’s the home buying process in 8 steps:
Initial Consultation
The initial consultation is extremely beneficial to both client and agent. Real estate is a personal process built on trust so it’s important we both feel the relationship is the right fit. There’s so much more I will do for you than show houses, and I want you to understand that from the very beginning. I’ll explain the process and begin to truly understand your needs before we move forward.
2. Get Pre-Approved
Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying the full price of your home in cash). Your agent can connect you to a mortgage broker. Based on your income and credit history, the mortgage broker will determine how much a bank will lend you, which will help determine the price range for your search.
3. Visit Properties
Now is the time to consider your ideal home’s location and amenities. You will attend viewings and open houses spanning a range of areas and property types. Additionally, your agent will activate notifications for exclusive Coming Soon and Off-Market properties as they hit the market.
4. Review Disclosures
You’ve picked a home you’re interested in, now it’s time to review the disclosures. This can be a very tedious process. These documents are filled with technical and legal terms, and can be hundreds and hundreds of pages long (especially if an HOA is included). You’re going to have a lot of questions and I’ll get the answers but it’s going to take time. A home inspection report isn’t going to spell out what needs to be done so we must read between the lines to understand it completely.
5. Negotiate and Write an Offer
The most difficult part of this whole process is pricing, it can be a very subjective opinion. You don’t know what your competition is till the day of the offer. In one situation, there were four offers—three very similar and one $120k more. They felt the house was worth that much but that doesn’t mean it’s really fair market value. Regardless of the data, you have to ask yourself, what’s it worth to me? It’s also impossible to predict if you will have a counter offer. If you do, time is of the essence. A lot can happen quickly in the negotiation process. In the hour it takes to make a decision, something could change and you lose the offer completely.
6. Entering into Escrow
The loan transaction process averages 21 to 28 days in the Bay Area, and there are a lot of things to figure out within that time. The escrow company acts as the third party entity between buyer and seller, and facilitates the transaction, including paperwork. It’s very important you choose the right lender because my role is diminished during this process. I’m like a “project manager” who makes sure everyone is doing their roles—documents are signed, each step is followed. You will also need to choose home insurance coverage and file it with the escrow company.
7. Final Walk-Through
You’re almost there but this last step is absolutely essential. The final walk-through is our chance to make sure the home is in the same condition as when you bought it. And the last chance to request the seller fix anything that isn’t—like a leaky sink—before the transaction closes.
8. Close of Escrow
The escrow company will assist with the final technicalities. Make note that while a lot of things can be done electronically, you have to sign loan documents in person. If you’re not in the country, a power of attorney can do it but you must set this up in advance. Once the money has been exchanged and all the documents have been signed, the escrow officer will record the change of ownership with the county. That’s when I call and say, congratulations, you’re a homeowner!
This is a general overview of the process. Once we start working together, I will be there to explain everything in greater detail and guide you through each step.