Homebuyers' Procedures  |  Homesellers' Procedures  |  Guía en Espanol  |  Mortgage Calculator

STEP 1: Meet with Martha and discuss the buying process

1. Pre-approval: Obtain pre-approval for financing and determine a price range. Discuss the importance of pre-approval and the advantage of working with a local lender. Martha can refer local mortgage bankers and lenders.
2. Agency disclosure: Discuss the concepts of agency and dual agency.
3. Review the Homebuyer’s Questionnaire and develop a “needs” list.
4. Explore neighborhoods together and develop a comparison base for the desired size and style of property. Eliminate neighborhoods that don’t meet the criteria.

STEP 2: Shopping for a house

5. Martha will attend Monday and Thursday Brokers’ Open Houses to screen houses for you.  She will refer you to any homes that she sees which are appropriate.
6. Martha will suggest homes to look at on Sunday Open House, and take you to see any that are appropriate.  Discuss Open House protocol.
7. Review the standard Residential Purchase Agreement and familiarize yourself with inspection, appraisal and loan contingencies.

STEP 3: You’ve found the perfect house

8. We review the house together at least once.
9. Martha speaks with the listing agent regarding disclosures, interest in the property and offer presentation timing.
10. We look at comparable listings and sales, and make a determination about value and price.
11. We discuss various offer strategies and consider the state of the market.
12. We write the offer. Bring your checkbook!
13. Martha presents the offer to the Seller and the Seller’s agent, and represents you in any/all negotiations that follow.

STEP 4: The offer is accepted

14. Martha opens escrow with the title company and deposits your good faith deposit.
15. Martha faxes a copy of the contract to the lender so financing can get underway.
16. Martha provides you a copy of important dates and transaction details during the escrow period.
17. Martha will offer names of service people (inspection, sewer, etc), and will schedule and attend all inspections.
18. Martha will discuss the outcome and consequences of any findings with you, and whether or not those findings will lead to additional negotiations.
19. Martha will set up an appraisal with the lender.
20. Martha will recommend homeowner’s insurance contacts to you in order for you to open a policy, a necessity prior to closing.
21. Martha will continue to monitor the loan process and monitor the escrow process, staying in constant touch with the lender and title company.
22. Martha accompanies you to the title company for signing. Bring your I.D!
23. Before closing, we ensure your down payment has been wired to escrow and we check to ensure your lender has funded the loan on time.

STEP 5: Escrow closes and you have a new home!