BUYER'S GUIDE

1. Contact a Realtor

Realtors help guide you through the steps involved in purchasing a home. Things like finding the right house, getting pre-approved with a lender, writing offers, reviewing contracts, inspection and title contingencies, and finally closing. If you're looking for a professional Realtor who can help you through the process contact me to discuss your unique needs and schedule a consultation.

1. Contact a Realtor

Realtors help guide you through the steps involved in purchasing a home. Things like finding the right house, getting pre-approved with a lender, writing offers, reviewing contracts, inspection and title contingencies, and finally closing. If you're looking for a professional Realtor who can help you through the process contact me to discuss your unique needs and schedule a consultation.

2. Financing

If you aren't purchasing a home in all cash, getting a loan is likely the route you will need to go. Obtaining loan approval through a lender is extremely important. Particularly in the Tacoma market where we often see multiple offers. Having loan approval will ensure the seller you are a serious buyer.

If you need help finding a lender, I'm here to help!

3. Make an Offer

You found the one! Now it's time to write an offer. First, we need to discuss a few things before writing it up.

  1. Offer Amount: What price would you like to pay?
  2. Earnest Money: Earnest money is a good faith deposit that you put down ensuring the seller you are serious. Typically 1-2% of the purchase price. This amount will be applied at closing to the purchase of your home.
  3. Financing: We already covered this one!
  4. Closing Costs: Do you plan on paying for your closing costs? Are you planning on the seller paying them?
  5. Closing Date: Varies depending on items such as financing, your moving time-frame, and the sellers moving time-frame.

3. Make an Offer

You found the one! Now it's time to write an offer. First, we need to discuss a few things before writing it up.

  1. Offer Amount: What price would you like to pay?
  2. Earnest Money: Earnest money is a good faith deposit that you put down ensuring the seller you are serious. Typically 1-2% of the purchase price. This amount will be applied at closing to the purchase of your home.
  3. Financing: We already covered this one!
  4. Closing Costs: Do you plan on paying for your closing costs? Are you planning on the seller paying them?
  5. Closing Date: Varies depending on items such as financing, your moving time-frame, and the sellers moving time-frame.

4. Contract

The seller accepted your offer! You qualify for the purchase of your next home, but what are all of these additional details and timelines? Below is a simplified walk through of terms and considerations.

  1. Inspection: Usually 5-10 days after going into contract.
  2. Title Review: 5 days after we receive the report.
  3. HOA/Resale Certificate: 5 days from receipt
  4. Financing: Closing on your loan typically happens 30 days after getting into contract.

5. Inspection

Having a home inspection is highly recommended and needs to be performed by a licensed and bonded professional. I have a growing list of experienced inspectors to refer clients. The cost can range from $400 to $1000 depending on the age and square footage of a house. This is a cost you will want to prepare for as a buyer and is due at the time of the inspection.

5. Inspection

Having a home inspection is highly recommended and needs to be performed by a licensed and bonded professional. I have a growing list of experienced inspectors to refer clients. The cost can range from $400 to $1000 depending on the age and square footage of a house. This is a cost you will want to prepare for as a buyer and is due at the time of the inspection.

6. Title

When writing an offer, we will include a title contingency. This will provide title insurance which will protect you once you have purchased the home. You will have five days from receipt to review the title report.

7. Escrow

Escrow is the the neutral third party that holds, manages, and disbursed funds between the buyer, seller, lenders, real estate companies, and other lien holders. They also record the deed with the county.

7. Escrow

Escrow is the the neutral third party that holds, manages, and disbursed funds between the buyer, seller, lenders, real estate companies, and other lien holders. They also record the deed with the county.

8. Closing

You are almost there! 2-3 days prior to closing you will sign your loan documents with escrow and provide them your funds to close. Once your lender has wired their funds to escrow after receiving signed loan documents, escrow will then notify the county to record the sale. Once closed and recorded, you will receive your keys!