Buying Process

A

Initial Consultation

 – Agency Disclosure
– Overview of buying process
– Buyers needs and wants
– Financial qualifications

Representation Agreement

 – Services and fees
– Client and agent obligations

Mortgage Application

 – Select lender/mortgage
company
– Initiate application process
– Get pre-approval from
lender

Select Location

 – Town profile
– School system
– Tax rate
– Growth rate
– Appreciation potential

Property Search

 – Multiple Listings (MLS)
– For sale by owner
– New construction
– Auction/bank owned

B

Pre-offer Search

 – Property Analysis
– Property history (list/sale)
– Zoning/deed restrictions
– Opinion of value

Offer Strategy

 – Price and terms
– Contingencies

Offer Presentation

Offer Acceptance

 – Binder deposit required

Home Inspections

 – Analyze results
– Renegotiate if necessary

Schedule Appraisal

P & S Agreement

 – Preparation
– Review by attorney
– Additional deposit
required

C

Finalize Mortgage Application

Loan Approval

 – Obtain commitment letter
from lender
– Notify seller/seller’s agent

Work by Lender’s Attorney

 – Title search
– Obtain municipal lien
certificate
– Assemble paperwork for
settlement

Coordinate Closing Details

Final Property Walk Thru

 – Day of closing

Closing

 – Sign documents