PURCHASE

• Prepare for the Process - 
  • A standard purchase transaction has many more steps than people realize and all of these steps take time.  In general you are looking at 30-45 days from start to finish.  

• Timeframe for Your Transaction - 
  • What is your time horizon for the move? (i.e. now, few months, next year)  
  • Are their any time constraints or accelerants  that you need to address? (i.e. job change start date, or lease expirations)

• Financial Preparation - Do you have your down payment, closing costs and reserves accounted for?   Do you have your documents together that will be needed? 

• Establish Your Team of Experts-  Myself along with your realtor and attorney (if needed) will guide you along the journey.  From assisting with budget to researching prospective home locations, we are your team of expert advisors throughout the transaction. Ask us questions, we are here for you.

• Get Prequalified -  My team will review your finances and work with you to determine a loan product that fits your life.  We provide the prequalification letter that is used to make your offer.

• Shop For your New Home - Remember Location, Location, Location -   You will work hand in hand with your realtor to find the home of your dreams.  Make sure the property type  meets your current needs and research the intangibles on where you are looking to buy.  Schools, Taxes, access to public transportation, proximity to work, friends, family, parks, recreation, etc. These variables make up the community you will be a part of for years to come.  The home may be perfect but is it in the perfect place?  Lean on your realtor for assistance with this.  They are your expert on finding a home.  

• Make an offer - All of your preparation leads to the point of the offer to purchase.  With the assistance of your realtor and the prequalification letter we have provided, you have settled on a price you're willing to pay, now we wait on the sellers response.  

• When the offer is accepted you provide earnest money to solidify the contract and we get to work on the loan processing to get you into your new home based on the contract dates. 

• If the sellers counteroffer for a higher price, then we work with your realtor to negotiate on your behalf to ensure that you get the home for a price you are comfortable with and within the limitations of your prequalification letter.  Don't worry as this happens very often =).

• Loan Processing and Underwriting - Congratulations!  If we are at this step your offer has been accepted.  This is the most in depth process in the transaction and it requires action, cooperation and patience.  Over the next 30-45 days all of the financial preparation and documentation you have provided come into play.  My team takes the reigns and pushes forward to meet your closing date. It is very common for additional items to be requested by underwriting.  The quicker we get all of your documents in for review, the smoother and less stressful it is for everyone.  

• "Closings aren't delayed in the last 5 days of the transaction, they are delayed in the first 5 days"  Quality information going in means minimal conditions coming out.  

•  Attorney Review/Due Diligence -  This timeframe overlaps with the start of Loan Processing and Underwriting.  During this time you have the ability to complete your home inspection and negotiate repairs, credits, or price reductions if there are any deficiencies on the property that are uncovered.  We also order the property appraisal during this time after communicating with your realtor on the home inspection results.  Typically this lasts 7 days but can be longer if there are items being actively negotiated.   If there are items that cannot be resolved you have the capability to cancel the transaction and received your earnest money back. 

• Final Walk Through - We are in the home stretch.  Typically 24 hours before, or the morning of, closing you will accompany your realtor  through the property one final time before completing the purchase.  Your loan is clear to close and you are making sure that the property is still in the same condition as when you saw it last.  

• Closing Time! - Congratulations!  This is the moment we all have been working towards.  You will be signing all of your loan documents with at the title company with your attorney or title agent.  Once all of the documents are signed and the funds transferred over, you own you new home!  You receive your keys and we get to welcome you home!

Click here To review any of the terms above that you aren't familiar with and to find other common terms you will hear throughout the process.