The Home Buying Process
You want to buy a home? No problem! Here's a brief overview of the process...
You will receive informational emails regarding things like: the role an agent will play in the transaction, information on Earnest Money Deposits, Why you should speak with a lender BEFORE starting to look at homes, plus much more.Step 1 – Buyer’s Agency
We will send you a contract by email. This contract allows us to represent you in the real estate transaction. The email will come from Sherril Watkins (on behalf of Docusign). It's no cost to you, it justs states that we will be representing you and promising to work on your behalf, as well as work honestly and fairly for you.
Step 2 – Loan Qualification
The next step in the process is to get you prequalified with a lender. We work very closely with a gentleman named Frank Zwan over at Residential Mortgage. (by the way, they are not affiliated with us, they just happen to have a similar name). Frank will go over your income and expenses and will tell you how much you will qualify for.
Have you spoken to a lender yet? Do you feel comfortable moving ahead with that?
It only takes about 15 minutes (or you can do an application online!) and your prequalification letter will be good for 6 months supposing your situation doesn't change (i.e. losing a job, applying for a credit card, buying a car, etc.) All of that can and will affect your prequalification.
Click here to Complete a Loan Application
(This is a secure link - Please be sure to choose Frank Zwan as your contact and as you go further into the application please type Sherril Watkins as your agent.)
If you decide to do the application online please let us know when you have completed it, or if you would like to speak with Frank we can arrange that as well. After completing the application online or with Frank, you will receive what is called a good faith estimate from Frank. It will show approximately what your costs will be.
Step 3 – Choosing Homes
Let us know what you are looking for in a home. You will begin to receive a "Listing Cart". This means that you will begin to receive emails of homes that meet your criteria as the home comes on the market for sale. Make sure you delete any homes that you do NOT like and mark any that you think you may want to see or just really stands out as a "favorite". Only 100 homes can be kept in your cart. If you need to change something about your cart, please let us know and we will update your cart (i.e. you only want single-story homes, price changes, # of bedrooms, etc.)
Step 4 – When you arrive (viewing homes & writing an offer)
By the time you find the home you are interested in viewing, we should have you qualified for a loan, as well as you will probably have some homes picked out that you would like to view.
You will also want to make sure that you are prepared to have approximately $500 to $1000 towards what is called an earnest money deposit.
When you choose a home and decide to write an offer, if that offer gets accepted, you will put between $500 - $1000 down to show to the seller that you are serious about your offer.
If the seller breaks the contract, the money will come back to you, if you break the contract, then the seller keeps that money, as well as if the contract goes through, then the amount will be credited towards the loan.
We look forward to hearing from you and working with you! If you have any questions please don't hesitate to contact us!
Please complete the form below if you would like us to assist you in the home buying process.