|
|
There are four basic
steps in the process of buying a home. The first step
is to select your real estate agent. The second step is to
get approved for your financing. The third step is to find
the property. The fourth step is the purchase.
- Agency
- Select your real estate broker or sales executive!
Agency
is the relationship between the Buyer and the agent
which will represent and hopefully protect them
throughout the purchase process.
-
- Financing
- Get approved for your purchase loan before you
look! This will help assure you of the opportunity to
Buy Low!
- Property Search
- Search for your dream home or property! The easiest
way to search for property is through the MLS (multiple
listing service). This is a computer database service
of properties for sale through participating members.
There are over 9,000 members in the Sacramento, Yolo,
Placer, El Dorado, Stanislaus, San Joaquin and other
area counties! The computer search data base can
specify your search by; price, size, bedrooms and dozens
of other important criteria. We can help with your
search.
- The Purchase and Escrow
- How does the transaction all come together? After
you have found your dream property it is time to make an
offer to purchase. The purchase contract is the
instrument commonly used for the purchase offer. The
purchase contract contains the price and terms of the
transaction. The purchase contract can be composed of
addendums to the contract as well as counter offers.
After the purchase contract has been agreed upon by
both Sellers and Buyers it is time to open escrow.
Escrow is usually done by a neutral third party company
that is also a title insurance company. The Escrow
company is responsible for accounting and collection of
monies and financial documents. They also disperse funds
for any liens or loans on the property and any third
party vendors that have facilitated the transaction.
After all work is accomplished and the terms of the
purchase contract are satisfied; title is transferred
from Seller to Buyer and the escrow is closed. The
Escrow company issues title insurance covering the
transfer.
-
- Now that you are a property owner!
- Take care of your new property it may be an
investment that will pay huge dividends in the future.
|
|
