A Step-By-Step Process
This is how I will assist you as Your Orange County Realtor/Agent:
- 1. Initial Interview
- Determine your needs, wants, and desires in a home.
- Discuss real estate parameters.
- 2. Pre-Qualify You With a Lender
- I will guide you to financial institutions to obtain the best financing available.
- Home Loan pre-qualification approval letter is obtained from lender.
- 3. Home Viewing
- I will show you available homes that suit your needs.
- I will listen to you carefully to help find your “ideal” home.
- I will educate you about the current market.
- 4. Target a Home That Is “Ideal” and Write the Offer
- I will write the offer for you.
- This procedure will take 1-3 hours.
- Deliver your earnest money deposit.
- 5. Present the Offer to the Seller
- I will prepare my presentation by highlighting the strengths of your offer and your strength as a buyer.
- I will present your offer to the sellers and the seller’s agent.
- The sellers will either accept, counter or reject your offer.
- 6. Counter Offer
- Any counter-offers are discussed and prepared.
- 7. Escrow
- Once the offer is accepted, escrow is opened.
- Earnest money is deposited at this time.
- Escrow orders a Preliminary Title Report (“prelim”) and sends copies to your agent and lender.
- Escrow instructions are issued to all parties along with the opening package.
- 8. Loan Application
- A completed loan application is submitted to the lender of your choice with all necessary documentation.
- 9. Contingency Period
- Buyer receives and approves Seller’s Real Estate Transfer Disclosure Statement.
- Buyer approves the Preliminary Title Report provided by the Title Company.
- Loan approval, including an appraisal of the property.
- Physical inspections/pest inspections are completed.
- 10. Homeowners Insurance Coverage
- Buyers obtain a Homeowners Insurance Policy for their new home and the insurance information is given to escrow.
- Escrow orders a copy of the homeowners’ insurance policy for the new lender prior to escrow closing.
- 11. Signing Documents
- Buyers need to bring current photo ID to sign notarized loan documents.
- Copies of title and lender documents are given to buyers.
- 12. Down Payment and Closing Funds
- The escrow officer provides you with a Buyer’s Estimated Closing Statement which itemizes your costs and advises you of total monies due.
- Buyer provides a cashier’s check several days prior to closing.
- 13. Funding
- The lender sends funds to the Title Company.
- 14. Close of Escrow
- The deed is recorded at the County Recorder’s office by the Title Company. (You will receive the original back from the County Recorder in approximately two months.)
- Keys are transferred from buyer to seller.
- 15. You Are Ready to Move In
- Welcome home!