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The Home
Buying Process
Select a
Realtor and establish a relationship -
Foremost, a
professional REALTOR with extensive market knowledge will make all the
difference in your home search. Next, the matter is Agency is very
important. All real estate companies are by law required to
disclose to you what type of agency arrangement you will enter into.
However, very few, if any, fully explain to you WHAT the different
agency arrangements actually mean. Whether you're a Home Buyer or
Seller, the only agency arrangement which provides you the benefit of
full representation is the Single Agency. That means the agent
will ONLY represent YOU and will NOT enter into a Dual Agency!
 Initial consultation
with your REALTOR to evaluate your needs and resources-
The San Joaquin Valley of Central California is a
wonderful place to live and raise a family. When you meet with
your agent you will discuss your needs and desires, and analyze your
resources. To evaluate your needs
-click here- for a Home
Buyer's Consultation!
Obtain Financing-
Once your needs are
established, Access Real Estate will provide guidance to financial
institutions where you can obtain information in order to get the best
financing available. For more information on obtaining a home loan
-click here-.
Find the
right home for you-
Access Real Estate
can show you homes based upon the criteria that you have established.
The more specific you are with your wishes, the more successful your
search will be. To view all homes for sale in your desired area
-click here- for an up-to-date and complete search.
Write the
purchase offer-
After we have found a home that meets all of
your needs we will do the necessary research to determine the seller's
motivation and structure a successful offer. We will then draft
the “Purchase Agreement” for you, advising you on protective
contingencies, customary practices, and local regulations. At this
time you will need to provide an “earnest money” deposit, usually from
1%-3% of the purchase price. The deposit check is not cashed until
your offer has been accepted by the seller.
Present the
offer-
Access Real Estate will present your offer to
the seller and the seller's agent. The sellers have three options:
they can accept your offer, counter your offer, or reject your offer.
Our knowledge of your needs and qualifications will enable us to
represent you in the best way possible.
Seller
responds-
Access Real Estate will review the seller's
response to your offer with you. Our negotiating skills and
knowledge will benefit you in reaching a final agreement.
Open escrow-
When the purchase agreement is accepted and
signed by all parties, Access Real Estate will open escrow for you.
At this time your earnest money will be deposited. The escrow
company will receive, hold and disburse all funds associated with your
transaction.
The
contingency period-
This is the time allowed per your purchase
agreement to obtain financing, perform inspections, and satisfy any
other contingencies to which your purchase is subject.
Typical contingencies include:
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Approval of the
seller's transfer disclosure statement.
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Approval of the
preliminary report from the title company.
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Loan approval,
including an appraisal of the property.
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Physical
inspections of the property.
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Pest inspection
and certification.
Obtain
homeowner's insurance-
We will work with your insurance agent and
escrow officer to make sure your policy is in effect at the close of
escrow. For information about property insurance,
-click here-.
Make down
payment-
You will need a cashier's check or money
transfer for the down payment several days prior to the closing date of
escrow.
Close escrow!
When all of the conditions of the purchase
agreement have been met, you will sign your loan documents and closing
papers. You will deposit the balance of your down payment and
closing costs into escrow and your lender will deposit the balance of
the purchase price. The deed will then be recorded at the County
Recorder 's office and you will take ownership of your new home! For
more information about escrow, -click
here-.
Contact an Access Real Estate Professional Today for
a Consultation to Develop Your Home Buying Plan!
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