The Purchasing Pathway System

A step-by-step game plan for what to expect from the initial consultation all the way through to the closing of your home.

Step 1: Initial Appointment

The purpose of the initial appointment is to understand your “needs and wants” as a buyer. This may be the most critical meeting of the home-buying process. During this appointment, the entire purchasing pathway will be discussed. And we’ll review the “10 Mistakes Homebuyers Make.”

Step 2: Determine the Purchasing Parameters

There are three criteria every buyer uses to find their home: location, price, and style/condition. These criteria and your “needs and wants” will determine the properties we search for and the homes we initially view.

Step 3: Acquire a Pre-Approval

Viewing homes without a pre-approval usually leads to disappointment. Buyers who are wise discuss their financial situation with a reputable lender and acquire a pre-approval. A pre-approval creates an opportunity for you to understand what you qualify for and ultimately decide what you can afford. A pre-approval greatly enhances your negotiating position – especially in a competitive market.

Step 4: View Homes

Viewing homes provides you with information to make the best decision possible. Helping you find a home is a process of elimination, not selection. Viewing homes you don’t like is not a waste of time; it helps build a frame of reference to help you find what you like.

Step 5: Write the Contract

The best way to prepare for the contract phase of the transaction as a buyer is to review a blank copy of the purchase contract. Reading the contract before making an offer will make you much more comfortable during the negotiation phase.

Step 6: Deposit Earnest Money

An earnest money deposit is the best way of communicating to the seller that you’re serious about purchasing their property. Earnest money is kept safe in a trust account until those funds are used to close the transaction.

Step 7: Perform the Home Inspections

After the contract is fully accepted and all terms are agreed upon, a home inspection can be performed if the contract allows. The inspection will allow you and the inspector you hire to take a more thorough look at the property. This inspection will give you a far greater understanding of the property you are purchasing.

Step 8: Final Walk-Through

After the mortgage has been approved, a final walk-through is encouraged. On the final walk-through, you will re-inspect the property to ensure it is in an acceptable condition and that any personal property conveying is present.

Step 9: Execute the Closing Documents

Once the contract is accepted, inspections performed, and the mortgage approved, the closing will be set, and final documents will be executed. The appropriate party will direct you to the event's time and date. A closing attorney will establish a formal closing date, or an escrow officer will close the transaction.

Step 10: Home Delivery

Upon the paperwork's conclusion and ownership transfer, you will receive the keys, garage door openers, and any documents/warranties that convey with the property. You will then become the rightful owner. It’s time to move in!