Buying a home is an important choice, perhaps one of the most important choices that you will make. It is a complicated process that involves many different aspects of finance and real estate. Yet it can also be fun and is extremely exciting. What could be more rewarding than realizing your dream of home ownereship and wealth building.

Over the years, I have enjoyed helping many people realize their dream of home ownership. I study the market, home inventory and all aspects of real estate. I have become skilled at finding the best homes, selecting the perfect financing packages, and negotiating terrific deals. It is my privelege to educate my clients and develope a plan to help them achieve their goals.

Here is a guide to help you gain a quick understanding of the road ahead.

Home Buyer's Guide

Dear Home Buyer,

The purchase of a new home can be one of the most important financial decisions you will make - owning your own home - "The American Dream."

There are many advantages to purchasing a home:
      Tax Benefits
      Investment vehicle (build equity vs. paying rent)
      Stable housing costs
      Pride of ownership

I hope you find this information beneficial in making your transaction and experience a smooth and positive one.

Home Buying - Step by Step

Interview Process. Select an agent and establish a committed relationship.

Initial Consultation. Your agent will evaluate your needs, wants and financial resources.

Lender Referrals. Determine your loan qualification and purchase price range.

Home Shopping. View homes fitting your criteria.
Home Selection & Offer to Purchase. Your agent will draft a Purchase Agreement, advising you on customary practices, protective contingencies, and local regulations.

Earnest Money Deposit. You will need to provide from 1%-3% of the purchase price (the deposit is not cashed until your offer has been accepted by the seller).

Presentation of Offer. Your agent will present your offer to the seller and the seller's agent.

Acceptance or Negotiation. The seller has three options. Accept the offer, give a counter offer, or reject the offer. Your agent will negotiate on your behalf in reaching a final agreement.

Open Escrow. When the Purchase Agreement is accepted and signed by all parties, your escrow will be opened. At this time, your earnest money will be deposited. The escrow or title company will receive and disburse all funds associated with your transaction.

Contingency Period. This is the time allowed per your Purchase Agreement to obtain financing, perform inspections, and satisfy any other contingencies to which your purchase is subject. Typical contingencies include:
      Approval of Seller's Transfer Disclosure Statement
      Approval of the Preliminary Title Report
      Loan Approval, including an appraisal of the property
      Pest Inspection and certification
      Physical inspections of the property

Homeowner's insurance. You should coordinate between your insurance and escrow company to make sure your policy is in effect at the close of escrow.

Down Payment Funds. You will need a cashier's check or money wire transfer prior to the closing date of escrow.

Close of Escrow. When all conditions of the Purchase Agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow and your lender will fund the balance of the purchase price. The deed will then be recorded at the County's Recorder's office and the keys to your new home will be delivered to you by your agent.