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  • Assess your timing to buy
  • Assess your motivation to buy
  • Assess your immediate concerns in buying a home
  • Determine how quickly you need to purchase
  • Research current laws, interest rates, and insurance conditions as it relates to the housing industry, and specifically how it impacts the purchase of a home
  • Research lenders
  • Research loan program that fit your needs
  • Identify a lender and get pre-approved
  • Obtain pre-qualification letter from lender
  • Identify neighborhood, style and size of home
  • Identify home features that are important to you
  • Search the internet
  • Scrub online listings for only available properties
  • Review ads on social and digital media
  • Drive neighborhoods
  • Visit open houses
  • Make appointments to view homes
  • Identify the home you want to purchase
  • Research comparable properties that are currently on the market
  • Research comparable properties that have sold in the past six months
  • Research if property is subject to private transfer tax and the amount
  • Research if property is located in a flood zone and will require flood insurance
  • Research any litigation related to construction defects
  • Research property’s land use coding and deed restrictions
  • Research property’s current use and zoning
  • Research public schools in the neighborhood
  • Determine fair market value of the property before writing an offer
  • Identify the correct forms for writing an offer or engage an attorney
  • Write an offer
  • Review merits and weakness of offer
  • Understand clauses in contract or engage counsel to assist
  • Review the Seller’s Real Property Disclosure Form
  • Complete Range Land Disclosure, if applicable
  • Contact seller or seller’s agent to review your qualifications and discuss offer
  • Negotiate the best deal for you
  • Review counter offer
  • Negotiate the best deal for you
  • Write a counter to the counter offer
  • Receive notice that counter to the counter offer is rejected
  • Return to step 12
  • Begin searching the internet again
  • Drive neighborhoods
  • Visit open houses
  • Write an offer and addenda
  • Review the Seller’s Real Property Disclosure Form
  • Negotiate the best deal
  • Write a counter offer with the terms and contingencies
  • Negotiate the deal
  • Prepare a buyers net sheet to determine all cost to close transaction
  • Request that seller provide a Home Warranty
  • Write a counter to the counter
  • Offer accepted
  • Draft timeline of contingency expiration dates
  • Prepare and convey any counteroffers, acceptance or amendments to seller or seller’s agent
  • Open escrow
  • Promptly deliver earnest money deposit to escrow company
  • Communicate with the seller and/or listing agent
  • Review current title information
  • Measure overall living space square footage
  • Measure interior room sizes
  • Ask seller for Homeowner’s Information Sheet which includes information on utilities and services you will need to know after closing
  • Confirm lot size from copy of certified survey, if available
  • Obtain copy of floor and pool plans, if available
  • Review all unrecorded property lines, agreements, easements
  • Identify Home Owner Association manager, if applicable
  • Verify Home Owner Association fees, if applicable
  • Review resale package from Home Owner Association, if applicable
  • Notify lender you have found a home
  • Order the appraisal
  • Identify and schedule qualified home inspectors
  • Determine if Home Owner Association has received FHA condo certification for lending, if applicable
  • Verify security system, current term of service and whether owned or leased
  • Research electricity availability and supplier’s name and phone number
  • Calculate average utility usage from last 12 months bills
  • Verify city sewer/septic tank system
  • Water system: calculate average water fees or rates from last 12 months of bills
  • Well water: well status, depth and output from Well Report
  • Natural gas: Review and approve availability, tranferability and supplier’s name and phone number
  • Solar panel: Review and approve supplier’s name and phone number and transferability of ownership or lease
  • Review and sign Lead Based Paint Disclosure, if applicable
  • Contact seller about lead base paint remediation
  • If property has rental units execute Estoppel Certificate
  • If property has rental units involved; obtain copies of all leases, verify all rent and deposits, inform tenants of transfer of property
  • Compile list of repairs and maintenance items
  • Coordinate with lender on discount points being locked in with dates
  • Review and approve or reject unrecorded property information and assess impact on purchase
  • Review and approve or reject septic system report and assess impact on purchase
  • Review and approve or reject Well Flow Test Report and assess impact on purchase
  • Review and approve or reject mold inspection report and assess impact on purchase
  • Meet the appraiser and provide with comparable sales
  • Review and understand the appraisal report
  • Meet the home inspector
  • Receive notice that loan requires an improvement in credit score. Stop process.  Go to Step 1
  • Renegotiate the offer because the appraisal came in low
  • Communicate with the listing agent/seller
  • Sign new addenda and notify lender
  • Follow loan processing through to the underwriter
  • Contact lender weekly to ensure processing is on track
  • Ensure compliance with Home Inspection Clause requirements
  • Confirm trustworthy contractors are performing any required repairs
  • Notify title company of addendum to contract
  • Sign off on Seller’s Real Property Disclosure Statement
  • Review inspection reports
  • Notify seller in writing of needed repairs
  • Prepare addenda to address repairs
  • Renegotiate offer because seller is unwilling to make all repairs
  • Communicate with the listing agent/seller
  • Review the preliminary title report from title company
  • Meet with escrow officer to discuss cloud on title and appropriate title insurance
  • Communicate with the listing agent/seller
  • Sign the Before You Purchase did you Know (applicable to common-interest communities)
  • Follow-up on appraisal
  • Address process if appraisal report comes in below agreed price
  • Meet appraisal conditions
  • Coordinate closing process with seller or seller’s agent and lender
  • Have all forms and information needed to close the sale
  • Confirm closing date and time and notify all parties
  • Solve any title problems (boundary disputes, easements, etc)
  • Schedule final walk-through prior to closing
  • Research all tax, Home Owner Association, utility and other applicable pro-rations
  • Request final closing figures from escrow officer
  • Receive & carefully review closing figures on Closing Disclosure to ensure accuracy of preparation
  • Confirm that any and all tax, home owner association, utility and any other pro-rations on the home have been resolved.
  • Review final figures on Closing Disclosure before closing
  • Forward verified closing figures to seller and or seller’s agent
  • Review and verify the Closing Discosure for final closing amount.
  • Request copy of closing documents from escrow officer
  • Confirm receipt of title insurance commitment
  • Confirm transfer of “Home Owners Warranty” at closing
  • Review documents with escrow officer
  • Schedule the closing date
  • Conduct final walk- through
  • Close of escrow delay, prepared addendum to extend close of escrow
  • Deliver to seller and/or listing agent for signature
  • Deliver signed copy to escrow officer
  • Postpone movers
  • Arrange for possession and transfer of home (keys, warranties, garage door openers, community pool keys, mail box keys and appliance manuals)
  • Have a “no surprises” closing with no unexpected expenses to close escrow
  • Review terms of Home Owner Warranty
  • Contact seller or listing agent to resolve any conflicts about repairs, if any

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