Home Buying Process
MEET WITH KELLY
We’ll meet in person, via phone, or Zoom to get to know one another, discuss your lifestyle, needs and goals, and create our plan for finding your ideal home
SIGN BUYER BROKER AGREEMENT
Washington Law requires all real estate brokers to sign a written service agreement with clients BEFORE providing any real estate services (including showing homes). This agreement is beneficial for all parties to agree on services provided and compensation for those services.
FINANCING OPTIONS
If you will be financing your home, we’ll discuss the necessary steps and where you are in the process. If you will be purchasing your home outright, we’ll cover everything that needs to happen to do so.
MARKET RESEARCH
We will review current national, regional, and local housing markets and discuss positioning strategies for a strong offer.
HOME SEARCH
We will create a list of features you need and want in a home and discuss the reasons behind each need so that we don’t miss anything. I’ll also help match you with neighborhoods that best fit your lifestyle and needs.
The funnel process: We’ll put every property that might work for you into the funnel so that you don’t miss anything.
View homes for sale: This is your chance to get a real feel for the space and imagine your life there.
Process of elimination: Our goal will be to find your top three favorites. This can be a rolling top three as we continue to find new homes.
Comparative analysis: Once you found your top three homes, I’ll do a comparative market analysis to help you get a feel for the value of each one.
DUE DILIGENCE
When you've found your ideal property, I’ll work to ensure you are prepared with as much knowledge as possible. We’ll review property disclosures, public records, title reports, any available pre-inspections, neighborhood analysis, HOA information, estimated property taxes, insurance and closing costs.
OFFER STRATEGY
We will review the seller’s preferences, such as timeline or specific contingencies, in order to align your offer with their expectations. We’ll discuss in detail all the terms of the purchase contract, including deadlines, risks, and contingency waivers. When you’re ready, I’ll help you position your offer for mutual acceptance while keeping your terms at the forefront.
NEGOTIATIONS
I will work diligently throughout the transaction to negotiate the terms that are most important to you.
MUTUAL ACCEPTANCE
Once all terms are agreed upon between you and the seller, we will have mutual acceptance of the purchase and sale contract.
EARNEST MONEY
Typically 1-2% of the purchase price, this deposit shows you are a committed buyer (think of it as a good faith payment) and is held in an escrow account until closing. If the deal goes through, the earnest money gets applied towards your closing costs. If you cancel the transaction for a valid reason (like not getting financing or unsatisfactory inspection results), your earnest money is refunded. However if you back out of the deal without a valid reason, the seller is entitled to keep the earnest money.
HOME INSPECTION
I’ll connect you with a licensed home inspector to evaluate the home’s condition and identify any issues that need to be addressed. Their report may be used to negotiate with the seller for repairs or to adjust the purchase price.
OTHER CONTINGENCIES
This can include things like septic/sewer inspections, lead-based paint inspections, HOA documents, and title review. We’ll make a step-by-step plan for satisfying all contingencies to keep the transaction moving forward.
APPRAISAL
Required by lenders, a home appraisal is an evaluation of the property's value by a professional appraiser and determines the maximum allowed loan amount. I’ll help you get a plan in place in case the appraisal comes in lower than the purchase price.
LOAN APPROVAL
If you’ve applied for financing, your lender will send a notice outlining the final details of your loan. Your closing costs will be provided and we will plan for how and when funds will be transferred.
FINAL STEPS & ESCROW
I will proactively stay on top of all the closing steps and keep you in the loop with timely updates and deadline reminders. We will schedule a final home walkthrough and transfer of utilities.
SIGN & CLOSE
An escrow agent will walk you through all documents for signing and the deed to your new home will be recorded. When everything is officially completed, you will get the keys to your new home!