Before beginning your search, it is critical to get pre-approved for a mortgage loan first (unless you will be paying the full price of your home in cash). 

A mortgage broker or bank will utilize your income, credit history, debts you owe, and cash being put towards the purchase, to determine what purchase price you qualify for. Once you are able to dive into these numbers, this will help you best determine the price range you want to search in. You want to make sure you know what you can comfortable afford before falling in love with a home.

Your agent will set you up on our Compass Collections tool where you can review listings directly from the MLS. They will schedule home tours on your behalf and you can also attend open houses. You will likely see homes spanning a range of areas and property types. Now is the time to consider your ideal home’s location and necessary amenities.

When you're ready to move forward with a purchase, your agent will advise you on constructing the strongest offer possible. Then we will draw up the necessary paperwork on your behalf. There is a lot to consider when making an offer. We'll discuss the purchase price, the closing date, sale contingencies and any special stipulations for your particular purchase. Once an offer is submitted, the seller may accept, reject or counter the offer. If the seller returns a counter, we will enter a negotiation period until an agreement is reached, or the offer is rejected by either party.

CONGRATS! A seller has officially accepted your offer!

Once you have an accepted offer, it is strongly advised you schedule your inspection as soon as possible (within the first 3 days upon offer acceptance), as nothing is binding until you have a fully executed contract. A seller can continue to show their home and accept another offer.

Your agent should coordinate all desired home inspections and contractual contingencies and together review: the disclosures, inspection report, at which point you can approve or negotiate credits or repairs. Prior to closing, you will schedule a final walk-through to verify that the property is still in acceptable condition and that any negotiated repairs were completed.

Your attorney's job is vital to protecting your interests, and to review paperwork on your behalf. You will want to select an attorney who is familiar with Real Estate transactions. The contract legally binds you to purchase the property for a specific price and defines the date of closing, down payment amount, and other key terms of your purchase.

Once you have completed your home inspection(s), the memorandum of sale from both sides of the deal (buyer side & seller side) is sent to attorneys to initiate the draft contract to be sent to your attorney. Once you sign, put down your deposit, and the sellers sign, you will have a fully executed binding contract.

The purchase will not be complete until closing, but the home cannot be sold to anyone else while the contract remains in effect. At this point, unless you are making a cash purchase, it will be time to shop rates and secure your mortgage loan locking in your rate.

Lenders offer a wide range of loan programs, so it's important to work with a lender you trust to help you determine the best loan for your specific circumstances.

Your lender will arrange a professional appraisal of the home. An appraisal is an unbiased estimate of the true (or fair market) value of a home and is conducted by an independent third party.

The appraiser will confirm the appraisal value of the property for all parties involved. If the home appraised at less than the expected value, you may have the option to renegotiate the purchase agreement, pay the difference, or terminate the contract.

A final walkthrough of the property is performed just prior to closing. The walkthrough confirms that no damage has been done to the home since the time of inspection and that the major systems and appliances are in working order, and that any inspection items have been addressed.

It’s closing time! A day before the closing, you will review a closing statement with your attorney. Once all the conditions of the contract have been satisfied, the closing is held. The closing documents are signed and the remaining portion of your down payment is provided. This is also when you should have all utilities transfered into your name. Now, you receive the keys to your new home and you are officially a homeowner!