First Time Buyer's Information

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1. Find The Right Real Estate Agent For You:

• Set up a buyer's consultation with a real estate agent. They will determine what type of home you need, give you the right information to start the process, and make sure you are going in the right direction. They also will answer all your questions that you have about the home buying process. 

2. Get Pre-Approved:

• Once you have done the buyer's consultation, the real estate agent will match you with the perfect lender to get pre approved with.  The lender will answer all your questions about obtaining a loan, the requirements, and help you throughout the whole loan process. (Remember, a real estate agent is NOT a lender. Ask questions about your loan to your lender)
• A pre-approval will tell you  how much you can qualify for a mortgage. Notify your real estate agent as soon as you are pre approved to start the home searching process. (THIS IS WHERE THE FUN STARTS!)

3. Home Searching:

• Congratulations on being pre-approved! Now, we can start searching for the perfect home for you! 
• You and I can now go look at all the homes that you wish in person until we find the right home for you. From the buyer's consultation, the real estate agent will already have all the information needed to help you find the right home. All you need to do is let the real estate agent know which homes you would like to go look at so that the real estate agent can set the appointments up for you.
• As you are going through homes, make a list of the homes that you like and dislike so that you can determine which home you love. Once you have determined which home is the one that you absolutely love and want, notify your real estate agent so that you guys can make a offer on that home!

4. The Offer:

• Now that we have found the right home for you, we can now put an offer on that home.
• Always ask your real estate agent on advice on making the offer. The real estate agent has the right tools on making an offer. They are the ones that will be presenting, negotiating, and writing the offer up on your behalf. 
• Be patient when your offer has been submitted. Some sellers might reply back in a few hours or might take days to get a response back. 
• There are 3 ways how your offer will be sent back to us. It will either be accepted, countered with the seller's counter offer, or rejected. 
• A loan takes 30 to 45 days close once you have an accepted offer. 
• Besides your down payment, you are required to pay closing cost. Closing cost are usually 2.5%-3% of the home's price. Depending on the deal, you can ask the sellers if they can pay a portion of your closing cost. 

5. Escrow:

• Woo Hoo! Your offer has been accepted and now we are in escrow! 
• The first part of escrow is your inspection period (due diligence). This is where you do all your inspections and determine if the home is suitable for you. Your real estate agent will recommend which inspectors you can use for all the inspections you will be doing. 
• After you have done your inspections, an appraiser comes to the home and appraises the home. They will tell us how much the home is worth and if there are any repairs required for the loan that need to be done. 
• Once this has been completed, then your loan will be processed with your lender.

6. IT'S CLOSING TIME:

• WHOS THE NEW HOMEOWNER? YOU!
• Congratulations on surviving escrow, now here are your keys to your beautiful home! You will receive keys once the home has been recorded with the county. Your real estate agent will inform you once that has been the case. 
• Please keep in mind, your real estate agent will most likely want to take a photo with you. So be ready for pictures :)

Hope this information gives you knowledge about the home buying process. Please, if you have any questions, feel free to contact me. (702)-343-2019 .

All information is deemed reliable but not guaranteed.