ILAR.HOMES

ILAR.HOMESILAR.HOMESILAR.HOMES

ILAR.HOMES

ILAR.HOMESILAR.HOMESILAR.HOMES
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Home Buying Process - Home Buying Process List - Steps to Buying a House

Home Buying Process

The following list is to help clarify your expectations and understanding of the sequence and process of buying your home.  We look forward to providing you with guidance along the way.

home buying process List

Lender/Mortgage Qualification

Meet with a Lender/Bank that provides Home Mortgages. Make sure the Lender is easily accessible even on weekends and or evening.

Compare Rates

1

Competitive Rates & Accessibility are important factors

Address any Credit issues

2

Address if necessary directly with your Lender 

Pre-Qualification Letter

3

Make sure you obtain this letter from your Lender


Agent & Real Estate Brokerage

Choose an Agent whom you feel comfortable working with. A Realtor who puts your best interest as a priority, a communicator, and your advocate.

Buyer Representation Contract

1

Sign a representation agreement with your Agent, approved by their Broker.

Home Wish List

2

Create a list of what's most important in your new Home.

Start your Home Search

3

Based on your Lender Pre-Qualification Letter and your Home Wish List your Agent will navigate your search.  Your Agent will schedule showings.  Attend Open Houses.

Make an Offer

4

Your Agent will research and provide you with Comparables to help you make a strong offer.


Escrow

Escrow is opened when your Offer is accepted by the Seller.

Deposit Earnest Money to Escrow

1

Start Loan Application Process

Secure financing within contract timeline.

Lender will order an Appraisal

1

Obtain Home Owner's Insurance

2

Perform your due diligence

Your Agent will guide you through this process.

Inspection: Professional Inspector hired and paid for by the buyer.

1

Review Seller's Real Property Disclosure Statement

2

Pre-Closing

Your Agent will guide you through this process.

You will need to satisfy loan obligations

1

Perform a final walk-though

2

Arrange Utilities and internet services

3

Closing

Your Agent will guide you through this process.

Sign closing documents

1

Bring your ID and other documents Escrow may require

2

Funding

Lender releases funds to the Title company

1

Recordation Day

Your Agent will guide you through this process.

Recordation Day is 3 days after signing closing documents by both parties.

1

Deed and other recordable documents are recorded with the County.

2

You receive your Keys

3

Welcome Home

It's all complete and you now officially own your new Home.

1

Congratulations!


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