[ October 03, 2014 ] by Peter Kim
How To Buy A Home Explained In 10 Easy Steps (video)

Don’t over complicate it.

I am going to explain the ENTIRE buying process to you in a way you will understand in 10 easy steps!

  1. Interview and choose your real estate agent of choice. Your new agent should immediately recommend you to their preferred loan officer
  2. Consult with a loan officer about your financing options, what you would like to pay per month, the type of loan that is best for you and your timeline expectations.
  3. Search for homes online so you can start to get an idea of what you can afford and in what area. Once you have a good idea, reach out to your selected realtor to schedule a personal showing of your potential dream home.
  4. Make an offer on your dream home. Don’t forget to include the pre approval letter from your loan officer and your refundable earnest money deposit
  5. Obtain mutual acceptance! This is when you have come to an agreement on the terms of the transaction, if you or the seller will be paying the closing costs and what timeline you will be adhering by.
  6. Order an inspection and negotiate any repairs that may be brought to your attention by the report. This inspection report is called the 35R and will require signatures from all parties agreeing to the condition of the home
  7. Allow your lender to order a bank appraisal. This is required by the lender in order to enter underwriting and finalize the loan
  8. Underwriting occurs during step 8. This is when the lender is performing a final review of your paperwork. Do not be alarmed if the lender reaches out to you to ask for additional documentation, it’s standard during this step
  9. Call 1-2 days before closing to switch all the utilities into your name and don’t forget to set a turnoff time for your current utilities!
  10. Go to the escrow office to sign papers which are then sent back to the lender for finalization. Typically 24-48 hours after signing, the title will be in your name and you will meet with your realtor to get the keys to your new dream home!

If you have any further questions please text or call me directly (425) 409-3823




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