The home buying process involves certain steps that you need to be prepared for when making an offer.
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As a homebuyer, what are the main steps you have to go through during the home buying process?
After you make an offer and it’s accepted, your first step is to wire your initial deposit (i.e., down payment) to the title company or an escrow account.
After that, it’s time to order inspections for the home. Some real estate transactions in San Francisco will involve disclosure packets, which means the inspections have already been done. If this isn’t the case in your situation, you’ll need to have them done yourself—your Realtor will help you choose the right inspectors for the right inspections.
While you’re doing this, you’ll also be working on your loan with your lender, so you need to gather any paperwork they ask of you and get it back to them as soon as possible. The sooner you’re fully approved, the sooner you can move forward with completing your purchase.
After your Realtor gets confirmation from the county that everything has been recorded, you get the keys to your new home!
Next, you’ll bring the remainder of the funds you need to close into escrow and title. At the same time, the bank will send the deposit you initially made on the property. You’ll sign the final loan documents just before you close escrow.
After you and the seller have signed all the required documents, the final step is for everything to get recorded with the county office. After your Realtor gets confirmation from the county that everything has been recorded, you get the keys to your new home!
If you have any more questions about this or any other real estate topic or you’re thinking about buying or selling a home in the near future, don’t hesitate to reach out to me. I’d be glad to help you.