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Escrow, Inspections, & Appraisals

The Buying Process: Step-by-Step Guide

1. The Offer & Initial Deposit

Once you’ve found the right home, the next step is submitting a formal offer. This is a legal agreement between you and the seller that includes terms, timelines, and the earnest money deposit.

Helpful Tips to Keep Things on Track:

  • Put everything in writing. All verbal agreements, counteroffers, and addendums should be documented and signed by both parties. I’ll make sure all your paperwork is in order and that you have copies of every document.
  • Stick to the schedule. After your offer is accepted, you’ll be working on a timeline with specific deadlines for inspections, financing, and closing. I’ll keep you updated at every stage so nothing gets missed.

2. The Closing Agent

A title company or real estate attorney will act as the closing agent. Their role is to:

  • Hold your deposit in escrow
  • Perform a title search to ensure the property is free of legal issues
  • Ensure any restrictions (like easements or zoning limitations) are clearly disclosed
    This protects your ownership rights and ensures a smooth closing.

3. How You Hold Title

You’ll need to decide how to take ownership—individually, jointly, or in a trust. Each option has different legal and tax implications, especially for estate planning. Consult with a legal or tax professional to determine what’s best for you.

4. Home Inspections

Once your offer is accepted, it’s time to inspect the property. You’ll want to hire a licensed inspector within the timeline outlined in your agreement.
You may also choose specialized inspectors for areas like:

  • Roofing
  • HVAC systems
  • Structural integrity
  • Environmental testing (especially for commercial properties)

What happens next:

  • If the home passes inspections, you move one step closer to closing.
  • If issues arise, you may renegotiate with the seller—usually to adjust the price or request repairs.

I can connect you with trusted inspectors in all key areas.

5. Appraisal & Loan Finalization

Your lender will order an appraisal to confirm the property’s value matches the sale price. This protects the bank’s investment and is required for most loans.
Stay in close contact with your lender to provide any additional documents they need. Two weeks before closing, double-check that everything is on track for final approval and funding.

6. Association Approval (If Applicable)

If the property is part of a condo or homeowners association, approval may be required. Be sure to:

  • Request all HOA documents early
  • Submit your application and any fees promptly
  • Complete everything clearly and accurately
  • Schedule an interview (if required) as soon as possible

Most associations require a certificate of approval before closing. Your closing agent will collect this for the official record.

7. Property Insurance

Your lender will require proof of homeowners insurance before closing. The amount will vary based on the property and the loan. Here are a few ways to save:

  • Raise your deductible: A higher deductible can lower your premium.
  • Ask about discounts: Features like deadbolts, alarms, and smoke detectors can reduce your rate.
  • Insure the house—not the land: Make sure you’re only insuring the structure, not the lot itself.

Need help finding an agent? I’m happy to refer you to trusted insurance professionals.

Buying a home is a big deal—but you don’t have to do it alone. I’ll be here every step of the way to guide you, answer your questions, and keep the process moving smoothly.

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