What You Need to Know About

Buying

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Phase One

Outlining Your objectives

  • What is your motivation to buy?
  • What price range are you considering?
    What is your timeline to move?
  • What are your ideal features and "non-negotiables"?
  • What are you looking for in a neighborhood?

Planning and Preparation

  • Discuss objectives and processes.
  • Select a lender and begin the loan approval process.
  • Obtain loan approval letter.
  • Sign the exclusive buyer broker agreement.
  • Research neighborhoods of interest.

Understanding the Market

  • Analysis of active.
  • pending and sold transactions.
  • Review contracts and timelines.
  • Personal timing and seasonal considerations.
  • Market forces; supply v. demand, macro v. micro
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Phase Two

Finding Your Home

  • Browse and review online listings
  • Notification of new and off-market properties
  • Attend open houses
  • Select your ideal location and home

Offers and Negotiation Strategies

  • Learn about the Purchase Contract
  • Discuss multiple-offer strategies (as needed)
  • Offer presentation and highlighting buyer strengths
  • Negotiate to optimize price and terms
  • Acceptance of offer/counter-offers
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Phase Three

Escrow Process

  • Notify escrow of acceptance and send a fully executed contract.
  • Wire initial deposit to escrow per term of the agreement.
  • Notify the lender to begin the loan and order appraisal.
  • Sign and return the opening package of escrow instructions.
  • Contact insurance agent regarding homeowners coverage.
  • Provide escrow with vesting (title) information.

Inspections and Disclosures

  • Schedule all desired home inspections, including termite reports.
  • Review all disclosures and reports.
  • Approve or negotiate repairs based on the inspection report.
  • Meet deadlines and remove contractual contingencies.
  • Schedule a final walk-through prior to the close of escrow.
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Phase Four

Closing

  • Review closing statement from escrow.
  • Meet with escrow to sign loan documents.
  • Arrange to wire the down payment and closing cost.
  • Transfer utilities to a new location.
  • Closing, key delivery, and celebration

Working Together Again

  • Staying in touch.
  • Second homes and investment properties.
  • Providing resources and introductions.
  • Referrals, testimonials, and reviews

Definitions

Work With Us

The Stonick Group of Compass is located in the Naples Island community of Long Beach,California. Lead by Realtor Leslie Stonick, the team takes great passion and pride in helping people find their place in the world through super band personal real estate transactions.
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