- Select a Realtor® and
establish a relationship
Find a full time, professional Realtor®
with extensive market knowledge. Mike & Kim Plisky will work closely
together with you to find the right home.
- Initial consultation with
your Realtors® to evaluate your needs and resources
Once your needs
are established, your Realtors® will provide guidance to financial
institutions where you can obtain information in order to get the best
financing available. You will discuss your needs and analyze your resources.
- Identify property to
buy
You will be shown homes based upon the criteria that you establish.
The more precise and direct you are with your Realtors®, the more
successful your search will be.
- Determine Seller's
motivation
Once you have found the home that you wish to purchase, your
Realtors® will do the necessary research to help you structure an effective
offer.
- Write offer to
purchase
Your Realtors® will draft the Purchase Agreement for you,
advising you on protective contingencies, customary practices, and local
regulations. At this time you will need to provide an "earnest money" deposit,
usually from 1 to 3% of the purchase price (the deposit is not cashed until
your offer has been accepted by the Seller).
- Presentation of
offer
Your Realtors® will present your offer to the Seller and the
Seller's agent. The Seller has three options: they can accept your offer,
counter your offer, or reject your offer. Your Realtor's® personal
knowledge of your needs and qualifications will enable them to represent you in
the best way possible.
- Seller's
response
Your Realtors® will review the Seller's response with you.
Their negotiating skills and knowledge will benefit you in reaching a final
agreement.
- Open escrow
When
the Purchase Agreement is accepted and signed by all parties, your
Realtors® will open escrow for you. At this time your earnest money will be
deposited. The escrow or title company will receive, hold 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 the Seller's Transfer
- Approval of the Preliminary Report from the Title
Company
- Loan approval, including an appraisal of the property
- Physical inspections of the property
- Pest inspection and certification
- Homeowner's
Insurance
Your Realtors® will coordinate between your Insurance
Agent and the Escrow Officer to make sure your policy is in effect at close of
escrow.
- Down payment
funds
You will need a Cashier's Check or money transfer several days
prior to the closing date of escrow.
- Close escrow
When
all of the 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 deposit the
balance of the purchase price. The Deed will then be recorded at the County
Recorder's office and you will take ownership of your home.
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