Buyer Info

The Buying Process

Determine how much home you can actually afford

We can help you evaluate your financial circumstances and introduce you to a mortgage counselor so you can make arrangements to become pre-approved. Pre-approval can improve your negotiation position and enable you to achieve your home buying objectives faster. Visit the Finance Center to meet recommended lenders and use our mortgage calculators.

Determine your housing needs and desires

One of our agents will help you work out a realistic idea of the home best suited to your needs including size, style, features, location, accessibility to schools and other personal preferences.

Initiate home search

Through psphomes.com you have complete, up-to-date access to every available home in the Multiple Listing System (MLS), most of which have interior photos or virtual tours. We also provide the tools to save your searches and your favorite properties as well as leave detailed notes about the home. With the Property Watch tool you have the ability to have new or changed properties meeting your search criteria emailed to you on a regular basis. After narrowing your search your agent will set appointments to tour the homes.

Informed decision making

Your agent will supply information on real estate values, taxes, utility costs, municipal services, neighborhood demographics, school data, and even alert you to proposed zoning changes that could affect your decision to buy.

Making an Offer

Once you have found the home you wish to purchase your agents will apply their professional training to help you structure an effective offer. This is where the agent's negotiation skills come into play. When an offer is made, the seller will have the option of accepting, rejecting or counter-offering and your agent will negotiate the best possible terms for you. Your agent will then draft the contract, advising you of protective contingencies, customary practices and local regulations. Home warranty, title and escrow arrangements will be detailed in the offer. Although your agent will give advice and information, it is your decision as to the exact price and terms that you wish to offer.

Inspections

Once the contract is accepted your agent will help you through inspections which may include structural, safety, environmental, and other hazards. These inspections are to verify there are no problems with the home.

Managing the Escrow

When the purchase agreement is accepted and signed by all parties your agent will open escrow for you and your earnest money will be deposited. The escrow is a neutral third party that will receive, hold and distribute all funds associated with your transaction.

Removing Contingencies

Prior to closing escrow, all of the contingencies of the Purchase Agreement must be met. Your agent will coordinate this process. Typical contingencies include:

• Approval of the seller's transfer disclosure statement
• Approval of the preliminary title support
• Loan approval, including an appraisal of the property
• Physical inspections of the property
• Pest inspection and certification
• Acquisition of homeowner's insurance

Closing Escrow and Moving In

When all of the conditions of the purchase agreement have been met, your agent will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow, and your lender will deposit the balance of the purchase price. The deed will then be recorded at the County Recorder's office and you will take ownership of your home.