Joe and Jason Summarize The Home Buying Process in 10 Steps
We know that buying a new home, especially in the current sellers market can be intimadating, and if you are a first time home buyer you may not know where to start.
We hope that our video can help simplify the process or at least gives you a great summary so that it feels less stressful.
This is a part of our Home Buyer Presentation series.
If you are interested in seeing the flow chart and learning more about How to Buy A Home visit our buying page.
10 STEPS TO BUYING A HOME WITH A REALTOR – INFOGRAPHIC
VIDEO TRANSCRIPT
hi everybody I’m Joe Kiser and I’m 00:01 Jason Fox we are The Madrona Group real 00:04 estate team. Today we’re going to talk about 00:06 the 10 steps to the home buying process. 00:11 this can be a little bit intimidating 00:14 especially if you’re a first-time 00:15 homebuyer. 00:15 we want to try to help simplify so 00:18 we broke it down to ten 00:19 basic steps. the first is securing 00:22 representation that’s us, but 00:25 along with that we also want to make 00:27 sure we find the right lender for you 00:29 because that’s an integral part of our 00:31 team. step two is negotiating the 00:33 offer. so once you find that house it’s 00:35 important that you have somebody on your 00:37 side looking out for your best interests. 00:40 step three is the purchase and sale 00:42 agreement. once we’ve arrived at the 00:44 house that you want to purchase and we’ve 00:46 come up with the terms that you’re okay 00:49 with we’re gonna put that on what’s 00:50 called a purchase and sale agreement or 00:52 the contract. once we have the offer 00:54 secured the next step is a home 00:56 inspection. that’s where we hire somebody 00:58 to go out and inspecty the home who will 01:00 deliver a full report that we can look 01:01 over and decide if we want to continue 01:03 moving on with the process. the fifth 01:06 step really is to continue to monitor 01:07 you and help you through the rest of the 01:09 transaction process. there’s a lot of 01:11 moving parts now we’re working with 01:13 lenders, appraisers, inspectors and 01:16 we need to make sure that you’re still on 01:17 on the right course. the sixth step is 01:20 fulfilling the loan commitment. that’s 01:22 where you’re gonna be in contact, and 01:24 we’re gonna assist you, with making sure 01:26 that all the documents are getting to 01:27 the lender as they need to keep the 01:29 process moving forward. 01:30 now we’re at step 7 that’s the appraisal. 01:34 what that is is when the bank actually 01:35 sends a third party person to go 01:39 out and evaluate the value and condition 01:41 of the home that you’re purchasing to 01:43 make sure that the lender is going to 01:44 secure financing on it. next is title and 01:47 escrow. initially a title was ordered so 01:49 that we could make sure that the 01:50 property was clear of any enchroachements 01:52 or liens. escrow is the party that’s 01:56 going to actually collect all the 01:57 paperwork and form a neat little file 01:59 and then bring you in for closing at the 02:01 end and file the deed to County for 02:04 record. now we’re at the final week of 02:06 closing. you’re getting ready to get your 02:08 keys you’re gonna be getting calls from 02:10 people at escrow to come in and sign and 02:12 we’re gonna be there to just kind of 02:13 make sure that you know where to be and 02:15 when to be there. 02:16 finally the post closing services. 02:19 congratulations!! this is where your agent 02:23 should be following up with you and 02:25 staying in contact with you for any the 02:26 questions and needs that you might have 02:28 after the process 02:29 completes. awesome, thanks guys. thanks for 02:32 watching. 02:38