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 purchase. It is the individual REALTOR that will make the greatest difference to YOU in service, professionalism, communication and courtesy. It is not the real estate firm the REALTOR works with that's important- it's the PERSON!
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.
Obtain Financing-
Once your needs are established, obtaining a real estate loan pre-approval is essential. Possibly you already know someone that you would secure as your loan agent. If not, you can look at would banks, mortgage brokers, or direct mortgage lenders. Obtaining a real estate loan pre-approval can be done in one day.
Find the right home for you-
Access Real Estate can show you homes based upon the criteria that you have established in your initial consultation. 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 have ready an “earnest money or initial” deposit, usually from 1%-3% of the purchase price.
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.
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.
