BUYERS
A step-by-step guide to buying your home
DON'T KNOW HOW TO GET STARTED?
We have broken down the steps for you here. For guidance and support through the process, give us a call!
The initial step is to meet with a mortgage broker to discuss and understand your budget. This will establish realistic expectations and with a pre-qualification (an estimate of your budget), you will show the seller(s) you mean business!
STEP 1: KNOW WHAT YOU WANT
OUTLINING YOUR OBJECTIVES:
QUESTIONS FOR YOU TO CONSIDER
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What is your motivation to buy?
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What price range are you considering?
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What is your timeline to move?
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What are your wants and needs?
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What are you looking for in a neighborhood?
QUESTIONS TO CONSIDER WITH YOUR REAL STATE BROKER
PLANNING AND PREPARATION:
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What are the objectives and what is the process?
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What are my lease-end options with my current landlord?
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Given my budget, what is the potential upgrade investment?
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What is important for me to learn about my neighborhood of interest?
QUESTIONS TO ASK YOUR REAL ESTATE BROKER
UNDERSTANDING THE MARKET:
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What are the results of your analysis of active, pending and sold transactions?
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Are we facing a seller’s or buyer’s market?
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What are seasonal considerations?
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What are the results of your analysis of mortgage interest rates?
STEP 2: FINDING YOUR HOME
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STEPS IN THE SEARCH
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Browse and review online listings with your real estate broker
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Receive notifications of new and off-market properties
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Virtually tour listings from the comfort of your home
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Attend in-person tours at your preference
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Select your ideal location and home
OFFER AND
NEGOTIATION STRATEGIES
WITH YOUR REAL ESTATE BROKER
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Learn about the purchase contract
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Discuss multiple offer strategies
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Prepare and deliver the offer presentation
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Negotiate to optimize price and terms
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Accept or counter offer(s)
STEP 3: GOING INTO ESCROW
THE ESCROW PROCESS
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Send contract to escrow for preparation of escrow instructions
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Wire initial deposit to escrow per terms of agreement
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Notify lender to begin loan process and order appraisal
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Sign and return opening package of escrow instructions
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Contact insurance agent for homeowner coverage
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Provide escrow with vesting (title) information
INSPECTIONS & DISCLOSURES
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Schedule all desired home inspections (e.g., termite report)
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Approve/negotiate repairs based on inspection reports
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Review/approve all seller and state required disclosures
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Review/approve preliminary title report
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Meet deadlines and remove contractual contingencies
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STEP 4: CLOSING
WELCOME HOME
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Review closing statement from escrow
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Virtually meet with escrow to sign loan documents
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Arrange to wire down payment and closing costs
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Schedule final walk-through prior to close of escrow
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Transfer utilities to new location
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Finish the closing, hand in the key, and celebrate
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Complete the move-in checklist
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Move into the property
OUR TEAM IS YOUR POWER
All the above may seem overwhelming, especially if some of the steps and terms are unfamiliar to you - which is the case for most people who are not professional brokers. At The Ambarchyan Team, we can manage and streamline the process for you. We are meticulous, detailed, thorough, and organized. And with our extensive knowledge and experience, we can help you think with your head in addition to thinking with your heart: Does this home really meet your needs? There are many homes on the market, so there is no need to rush to a decision. The Ambarchyan Team, a team of experienced real estate professionals, can guide you through the process, saving you time and resources in the long run and helping you to find the ideal home.
