The Home Buying Process

Home-Buying Process Overview

1. Get Pre-Approved By a LOCAL Lender
Start with a mortgage pre-approval to understand your budget and financing options. Discuss your ideal monthly budget, any first-time buyer programs, income sources, or bonuses with your lender. Tanner Garver with Fairway Independent Mortgage is the best local lender!

2. Begin Your Home Search with Me
Once pre-approved, it’s time to dive into finding the perfect home. I’ll set up a private MLS portal based on your criteria, sending alerts on new or upcoming listings. Review the options and let me know which ones you’d like to tour together!

3. Making an Offer
When you’re ready, we’ll craft a strong, competitive offer. I’ll conduct a market analysis to confirm the home’s value and guide you on setting an optimal price and terms. Together, we’ll tailor the offer to align with the market conditions.

4. Under Contract!
Congratulations—your offer is accepted! Now, we move into the contract phase.

5. Earnest Money Deposit (EMD) 
Within 3 days, you’ll need to submit a 1% EMD (1% of purchase price amount) to the title company as a commitment to the sellers. This deposit is held in escrow and credited to you at closing or returned if you cancel within the designated timeframes.

6. Inspections
You’ll have a 10-day window to conduct inspections. I recommend a comprehensive inspection and may suggest termite, radon, structural, and sewer inspections if needed (typically $900–$1,300, paid out-of-pocket). I love Golden Homes Inspection, a trustworthy and honest local inspection company!

7. Post-Inspection Options 
After inspections, you can:
   - Cancel The Contract and receive your EMD back
   - Request repairs or credits (we get an additional 5 days for negotiation purposes)
   - Accept the home “as-is” and move forward

8. Appraisal  
Your lender orders an appraisal to verify the home’s value for the loan. If the appraisal is lower than the purchase price, we’ll have 5 days to renegotiate the difference between the offer price and the appraised value price. Otherwise, if it’s appraised higher than your offer price, you gain instant equity! 

9. Final Walk-Through
A day before closing, we’ll do a final walk-through to confirm the home’s condition and verify any repairs (if applicable). 

10. Closing Day 
Congratulations! On closing day, you’ll sign the final documents and bring the required funds to the title company. The home is officially yours!

*Buyer-Side Closing Costs*
At closing, you’ll be responsible for certain buyer-side costs, including:
   - Homeowners Insurance & any HOA Fees
   - Buyer Agency Compensation (if applicable)  
   - Lender/Loan fees and Title fees  
   - Prorated property taxes