Your Complete Home Buying Process Guide

Get Your Finances Ready

Before you start looking at homes, you need to know what you can afford. The first step in the home buying process is figuring out whether you’ll need a mortgage or if you’re buying with cash.

Getting Pre-Qualified

Start by getting pre-qualified with a mortgage lender. They’ll look at your income, debts, and expenses to estimate how much you can comfortably spend each month on a mortgage payment.

Important Things to Know

Choose the Right Loan: There are many different types of home loans available. A good lender will help you understand your options and find the loan that works best for your situation.

Check Your Credit Score: Sometimes you might need to improve your credit before buying a home. Know where you stand and take care of any credit issues early in the process.

Cash Buyers: If you’re planning to pay cash, you’ll need to show proof that you have enough money to cover the purchase price plus closing costs. This usually means providing recent bank statements.

Search for Your Dream Home

This is often the most exciting part of the home buying process! But before we start looking, let’s get clear on what you really need versus what would be nice to have.

What to Think About:

Where do you want to live?

What style of home appeals to you?

How many bedrooms and bathrooms do you need?

Do you want a yard or outdoor space?

How close do you want to be to neighbors?

Once I understand your priorities, I’ll use my specialized search tools to find homes that match what you’re looking for.

Things to Consider

Your Budget and Timeline: Are you willing to buy a fixer-upper to save money, or do you need something move-in ready? Knowing this upfront will help us focus our search on the right properties.

Future Resale Value: Remember, your home is also an investment. While it’s important to love where you live, it’s smart to think about how easy it might be to sell when you’re ready to move.

Getting Started: I’ll provide you with a Client Preference Sheet that covers all the important questions to help narrow down your search.

Make a Competitive Offer

Great news – you’ve found a home you can picture your family living in! Now it’s time to make an offer. In California, we use a form called the Residential Purchase Agreement (RPA).

Don’t worry if it looks overwhelming – the RPA is a long document with lots of legal language. That’s exactly why I’m here to walk you through every section and answer all your questions so you feel confident about what you’re signing.

Key Things to Focus On

Getting the Price Right: This is where my expertise really matters. I’ll help you make an offer that’s competitive enough to get accepted but fair enough that you’re not overpaying.

Don’t Forget the Details: We’ll make sure to include any fixtures or items you want to come with the house – like that beautiful chandelier or the built-in appliances.

Your Safety Net: The contract includes “contingencies” – these are basically your escape routes if something doesn’t meet your expectations during the buying process.

Inspection Rights: As the buyer, you have the right to thoroughly inspect the property. I’ll help you find qualified inspectors and coordinate all the appointments.

Complete Home Inspections

As the buyer, you have every right to thoroughly check out the property before you finalize the purchase. I’ll help you find qualified inspectors and coordinate everything to make sure you’re protected and avoid any expensive surprises down the road.

Essential Inspections and Reports

Property Inspection: A professional will check that all the home’s systems and components are working properly. If they find issues, we can ask the seller to fix them before closing.

Title Report: The seller typically pays for this report, which shows if there are any liens, easements, or legal issues that could affect your ownership of the property.

Seller Disclosures: Sellers are required to tell you about any known problems with the house. This includes natural hazard information, lead paint disclosures, and details about any homeowner associations.

Appraisal (if you’re getting a loan): The bank will have the property appraised to make sure it’s worth what you’re paying. If it comes in low, you can ask the seller to lower the price, pay the difference yourself, or walk away.

Loan Contingency: If you can’t get financing or the interest rate is higher than expected, you can cancel your offer without penalty.

Important: These contingencies protect you until you actively remove them – they don’t just expire on their own.

Specialized Inspections

Depending on the property, I might recommend additional inspections:

• Foundation and geological issues
• Roof condition
• Mold and asbestos testing
• Sewer or septic systems
• Fireplace and chimney
• Heating and air conditioning
• Drainage problems

I’ll guide you through which ones make sense for your specific property.

Navigate Escrow and Important Deadlines

Once your offer is accepted, an escrow company steps in to handle the transaction. Think of them as a neutral referee who makes sure both you and the seller follow through on everything you’ve agreed to in the contract.

The escrow company holds onto your money and ensures that nothing changes hands until every single condition in your purchase agreement has been completed. This protects both you and the seller.

What You Need to Know

Choosing the Escrow Company: Usually, you and the seller will agree on which escrow company to use. Sometimes the seller may have already opened escrow, but this is something we’ll discuss and decide together.

Your Earnest Money Deposit: You’ll need to put down your earnest money deposit within three business days of having your offer accepted. This shows the seller you’re serious about buying their home and gets the escrow process officially started.

I’ll stay in close contact with the escrow company throughout this process to make sure everything stays on track and all important deadlines are met.

Close on Your New Home

The closing date is the big day when you officially become the homeowner! This date was set when you and the seller first agreed to the purchase contract, and now it’s finally here.

On closing day, the escrow officer will make sure everything is complete before handing over the keys:

Final Checklist:

• All documents are signed and notarized
• You’ve removed any remaining contingencies
• The title is clear with no legal issues
• You’ve signed all your loan paperwork (if you’re financing)
• The seller has signed all their documents
• Everyone has approved the final closing statements
• Your closing funds have been received by escrow

The Final Steps

Once everything checks out, the escrow officer will:

• Order your title insurance (if included in your contract)
• Send all the paperwork to the county recorder’s office for official recording

When the county confirms that your ownership has been officially recorded, that’s when you get the keys to your new home!

Congratulations – you’re now an official homeowner!

This marks the end of your home buying process, but the beginning of an exciting new chapter. I’ll continue to be here as a resource for any questions that come up as you settle into your new home.