Choose a good lender and get pre-approved to find out price range and comfortable monthly payment. We can give you some lender names if you need them
With pre-approval letter in hand, we'll discuss what you're looking for in your home - community preferences, commuting, areas, builders, school districts, specific home features - anything that you're looking for in your home. We'll start searching MLS for every new and resale home in the Valley that interests you. You can choose the homes and we can give you a list so that you can drive by - or we can tour homes together.
When you find the home that you can't live without, we'll need to move quickly! We'll provide you with comps of recent sales of similar homes to determine your offering price. You will already know your costs, what your down payment will be and your monthly payment from your "Good Faith Estimate" that you received from your lender. We'll discuss any questions and concerns
Next we'll complete your Offer to Purchase which will include the price you're offering, terms, conditions, financing details, inspections and due diligence time allowances, appraisals, homeowner association issues, etc. We'll go over all of the paperwork carefully and be certain that you fully understand your offer details - possession date, buyer/seller responsibilities, closing date, downpayment, final walk-thru, clearly define what is included in your purchase and what is not, and who pays for what. You will need to have a check for earnest money, payable to the title company. If the offer is accepted, the check will be cashed, held in escrow and applied towards your costs at close of escrow.
Then we wait for the seller to accept your offer - we should have an idea of how long it will be for a response, however, sometimes a little patience is needed. It could be a short wait but sometimes it could be several days. If it's a bank-owned property or short sale, it could be much longer to get possibly a counter, hopefully an acceptance! Patience.
