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BUYERS CHECKLIST

 

Refer to this handy list to get you through the home buying process

 

1. Figure out how much house you can afford.

2. Get pre-approved for a mortgage.

  • Choose a type of mortgage.
  • Speak to at least three lenders and mortgage brokers.
  • Shop for the best interest rates and programs.

3. Work with an Encompass Realty buyers agent to walk you through the remaining steps!

4. Determining what you want and need in a home.

  • Choose a location (downtown, urban, suburban, rural).
  • Choose a type (single family, townhouse, condo, loft).
  • Choose a price range.
  • Choose a size.
  • Choose an architectural style.
  • Search for homes here

5. Researching your target neighborhoods.

  • Look online for information on schools, crime rate, traffic and zoning.
  • Determine your work commute.
  • Scout local amenities, such as parks, shops and restaurants.
  • Visit our communities page to learn more

6. Searching for homes

  • Sign up for Property Alerts (Targeted homes meeting your criteria emailed to you)
  • Ask your agent to set up tours of homes that fit your criteria.
  • Pick up flyers and attend open houses.

7. Researching each home you want to buy.

  • Ask your agent for comps to estimate the property’s fair market value.
  • Ask the seller’s reason for selling.
  • Review all property disclosures.
  • Find out about liens, easements or other restrictions.

8. Making an offer and negotiating.

  • Determine the purchase price.
  • Include contingencies, such as financial, inspection or purchase.
  • Spell out any special requests and repairs you want included in the sale.
  • Determine an earnest money amount.
  • Define a move-in date.
  • Once both parties agree to the terms, sign the Purchase Agreement.

9. Finalizing the deal.

  • Get the house appraised.
  • Get a professional home inspection.
  • Consider getting specific inspections for structural engineering, roof, and termites.
  • Use the appraisal and inspection reports to re-negotiate if necessary.
  • Choose a home insurance company.
  • Complete the loan process with the lender.
  • Do a walk-through inspection prior to closing.
  • Set aside cash for the closing costs and down payment.

10. Closing the purchase.

  • Review the settlement document at least 2 days before closing to see how funds will be collected and distributed.
  • Get a cashier’s check for the amount you need to bring to closing, including the down payment and closing costs.

11. Receive the keys to your new home!




Realtor, SDAR, California Associates of Realtors, Equal Housing Opportunity
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