Buying a home

FINDING THE ONE

ACCEPTED OFFER

CLOSING

the process broken down

Where to begin?

Buying a home is an exciting milestone in anyone's life. The most common question my clients ask is where do we start? My answer, the bank! The first step is to connect with a lender and get a pre-approval. Some lenders have different interest rates and incentives they can offer, so do your homework! Find a lender that you can trust. 

Pre-approved, now what?

Now it is time for the fun part, we begin the search! Have you thought about were you want to live? What are your must haves? Do you want a 2-story home or a single story? Are you planning to make upgrades? You will come up with a list of all of the things you are looking for (and not looking for) in your future home. If you don't know what you want, that's fine too! As we look at homes you will develop an idea of what will work best for your lifestyle. 

Ready to submit an offer?

What happens when you find "the one"? Well, its time to write up an offer of course! How many days do we need to close? How much of a deposit are we going to need to put down? We will go over all of these questions, and send the purchase offer to the Selling agent to review with the Seller. Then comes the hard part, we wait. Hopefully the Seller accepts our offer, but they can also elect to counter any of the terms and conditions we submitted, or simply reject it altogether. This period is commonly referred to as "negotiations". Once we come to an agreement, we will begin Escrow.

Escrow?

The Escrow or Title company is decided upon through negotiations. The escrow companies role is to be a neutral 3rd party to assist with the transaction and disbursement of funds. Once we have escrow opened you will be assigned an escrow officer and escrow number. Your first contractual obligation is going to typically be to send in your "EMD" or earnest money deposit.

Inspections & Appraisal

Once an offer is established and escrow is opened its time to set up inspections. This is your time to have licensed professionals come and thoroughly check out the home. Typically Buyers elect to conduct a pest inspection, home inspection, roof inspection and pool/chimney inspections if necessary. If the inspections turn-up more issues then a Buyer is comfortable with, you have 2 options, you can walk away or request a credit or repairs to be completed. The appraisal is the last piece of the puzzle. The appraiser is determining the value of the property and reports this information back to the lender. Depending on the type of loan, this value may require further negotiations. If it comes in at or above purchase price value, then great we keep moving forward!

Fund, Record, Keys!

Finally, its time for all parties to go to the escrow company for signing. You will be meeting with a notary and signing all loan docs. After all parties have signed the lender will send funds to escrow. Once funds are received the escrow officer will release the file to record. Typically once on record, Buyer can obtain keys at take possession of the property at 6 pm that day. That's it, Congratulations, you just bought a home!

Contact Me

Ask me anything!

Better yet, see us in person!

I love our clients, so feel free to visit during normal business hours.

Felicia Nevin Real Estate

2998 Douglas Blvd #125 Roseville, CA 95661

(916)792-8670

Hours

Mon

8:30 am – 2:00 pm

Tue

8:30 am – 2:00 pm

Wed

8:30 am – 2:00 pm

Thu

8:30 am – 1:00 pm

Fri

8:30 am – 2:00 pm

Sat

By Appointment

Sun

By Appointment