Homebuyer's Checklist

Buying a home: the process

SELECTING AN AGENT

Traditional Agent
Represents Seller all of the time

Dual Agent
Represents both Seller and Buyer at the same time

Transaction Facilitator
Represents neither Buyer nor Seller

Buyer Agent in Traditional Firm
Sometimes represents Seller, sometimes Buyer

Designated Buyer Agent
Represents Buyer or Seller in a specific transaction. Broker is a Dual Agent

EXCLUSIVE BUYER AGENT

Represents Buyer 100% of the time

THE SEARCH STEP

1. Pre-Qualification
Determines purchasing power; defines price range STEP
2. Needs and Wants
Set priorities for size, location, style, features STEP
3. Select Search Areas
Preview information on available homes STEP
4. Review Comparable Sales and Tax Data STEP
5. Drive-by Tour of Homes STEP
6. Tour Select Homes with Agent STEP
7. Writing an Offer
Strategy, negotiation, financing, contingencies, inspections

CONTRACT ACCEPTANCE

Mortgage Application
Requires credit check, home appraisal

Settlement Schedule
Deadlines for inspections, approvals, insurance, settlement

Professional Home Inspection
Buyer & Agent should be present

Select Settlement Attorney
For title search, title insurance, settlement statement

Mortgage Approval
Takes approximately 2 to four weeks

Obtain Homeowner Hazard Insurance
Lender requires

Termite Inspection

Seller arranges and pays -- BUYER BEWARE!

Notify Utilities

Final Walk-through Inspection

SETTLEMENT - CONGRATULATIONS!

Continue to Mortgage Checklist