Finding the House You Want
Finding the right house is something like finding a lifelong mate. After careful consideration of your needs and instituting the search process, most people end up buying the house they "fall in love with." It is important to share the house characteristics most important to you with your real estate agent. This will help your agent screen available properties that meet your specific needs.

Making an Offer
Once you have found the "house of your dreams," you will need to determine the terms on which you are willing to purchase it. Working with your agent you will draw up an offer to present to the seller. The offer includes many items that are of importance to you, including: the price, the terms, items included or excluded, contingencies that must be met before completion of the purchase, the time of occupancy, etc. The seller may respond to your offer by accepting it, rejecting it, or by issuing a counter-offer. These negotiations may be short and minor, or lengthy and major.

Checking Out the Property
"Full disclosure" is the name of the game in today's real estate market. While it is the seller's responsibility to reveal to you any defects of the property, it is also in your best interest to have inspections made to satisfy yourself as to the condition of the property. Your agent can recommend inspection companies. The pest control (termite) inspection is only one of such inspections.

Obtaining the Financing
Not many buyers are able to purchase a home without obtaining financing. Shopping for the right loan for your circumstances is a significant part of the home buying process. You will need to complete a loan application, verifications of employment and deposits, and other elements involved in the loan package. Both you and the property will have to meet the lender's qualifying standards.

You will also need to be aware of time limitations on the loan commitment so you will have the loan when it is time to close the purchase. Use the following sample financial information statement to gather the information you will need later. You may also find it beneficial to meet with the lender to pre-qualify you for a specific loan amount.

Timing the Process
In the purchase of property "time is of the essence." This means that timing can be as important as dollars. Usually you will have a deadline for inspections, one for obtaining financing and one for completing the sale. It is important to meet these deadlines in order to stay in contract.

Closing the Escrow
The escrow is the process by which a neutral (third) party handles the paperwork and money involved in a real estate transaction. The escrow is closed when the following has been completed: the buyer and seller have signed all necessary papers, insurance has been arranged, the lender has made the loan funds available, the buyer's down payment has been made, and the deed to the property has been recorded.