Steps To Buying A Home

Steps To Buying A Home

 Buying home can be an very fun and strenuous time in your life.   To help you understand the home buying process here are some steps on what to expect. 
Step 1 
Work with a Lender to get your pre-approval completed so you know what price range  you will be looking at.   

Step 2
After the seller Accepts your offer your escrow period count down starts.  At this time we now have an executed or ratified contract.  

Step 3
Any Earnest Money you have agreed to needs to be deposited to the Escrow account.  Make sure you write the escrow number on the check if you are not doing a wire transfer.

Step 4
If there is a Physical Contingency Period you can inspect the property during this time.  Any repairs the seller agrees to have completed should be completed prior to close of escrow unless agreed upon differently. 

Step 5 
Your lender is working from the 1st day of acceptance to get your appraisal ordered and your loan file ready for underwriting to give a formal approval of your loan. ( If Loan is Obtained for the purchase)

Step 6
The title company will collect all the necessary documents needed from all parties. (Seller(s), Buyer(s), Lender, and agents). 

Step 7
When we close all parties will work from a HUD-1 Settlement statement.  The HUD- will tell you the charges associated with the purchase of your home.    

Step 8 
Funding takes place. (Normally the day before closing) 

Step 9 
The county Records the Grand Deed 

Step 10 
Your Key Exchange to your new home! 
CONGRATULATIONS!!! 
 
You Are officially a New Home Owner! 


Rochelle Maher Headshot
Author:
Phone: 925-588-5875
Dated: May 15th 2013
Views: 1,189
About Rochelle: Rochelle Maher focuses on the East Bay residential real estate market and provides her clients with ...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

Compass Real Estate - EastBayPro Team
Offices throughout the East Bay!
Top 1% in Bay Area,
925-304-6346


Other Locations