Bob Stiller

Strong Relationships, Sound Advice

Home Buying Process

  1. Pre Qualification - financial institution verification of adequate financial ability to purchase
  2. Executed Buyer’s Agreement - legal authorization for agent to act on behalf of the buyer
  3. Define Home Search Parameters - establish working criteria for New Home Search
    1. Berkshire Hathaway Mobile App
    2. Free HomeFinder account
    3. Custom MLS Search page with selected properties
  4. Offer - construct competitive offer for chosen property
    1. Earnest Money Amount - larger=more commitment
    2. Due Diligence Period - shorter=more desirable to seller
    3. Financing Contingency (if applicable) - Cash is King
    4. Projected Closing Date - shorter=more desirable to seller
    5. Purchase Price - needs to be supportable by appraisal if financing is involved
    6. Contribution to Buyer’s Closing Costs - less=more for seller
  5. Accepted Offer
    1. Make Earnest Money Deposit
    2. Home Inspection/ Approval within Due Diligence Period
    3. Loan Application
    4. Property Appraisal - purchase price confirmation
    5. Loan approval
  6. Closing Cost Estimates - for review
  7. Closing - property changes hands
  8. New Owner Moves In