Step-by-Step Home Buying Process
A realtor’s role is to navigate a buyer through the home buying process. See buyer’s services for more detail regarding Unhei’s roles.
Below is a step-by-step process. There are four columns because some tasks occur in parallel.
|
Inspection and Insurance |
Buyer |
Financing |
Escrow and Title Company |
|
Meet with a realtor |
Consult with lender | ||
| Pre-qualify | |||
| Market education | Receive pre-approval letter | ||
| View properties | Complete loan application | ||
| Select property and write an offer | |||
| Offer presented to the seller | |||
| Negotiation of terms | |||
| Request homeowners insurance quotes | Offer acceptance by both buyer and seller | Begin loan process | Open escrow and Deposit earnest money |
| Schedule inspections | Submit loan to underwriting | Title search | |
| Review disclosures | Order appraisal | Preliminary title report | |
| Remove inspection contingency | |||
| Select homeowners insurance | Loan approved | ||
| Remove loan and appraisal contingencies | |||
| Start packing | Deposit balance of down payment and closing costs | ||
| Fund loan | |||
| Record title | |||
| Close of escrow and receive keys | |||
| Contact gas and electric, water, telephone, garbage | |||
| Welcome home! |
|
