Buyer Resources

  • Agent & Buyer determine Buyer needs, wants, timeframe, and financial options
  • Agent reviews the search and buying process, current market conditions and trends, Buyer costs, and the real estate Agency
  • Agency Disclosure and Buyer-Representation Agreement signed
  • Disclosure package reviewed with Buyer
  • Agent works with Buyer to secure loan pre-approval
  • Agent sets up automatic alert system for new listings that match Buyer’s parameters
  • Agent identifies and previews properties through MLS and brokers’ tours
  • Agent provides resources for neighborhood and community information
  • Agent and Buyer tour properties: showings by appointment, broker tours, open houses
  • Agent and Buyer review benefits and drawbacks of specific properties
  • Buyer identifies new home to purchase
  • As appropriate, Buyer checks the online Megan’s Law database, and local crime statistics with neighborhood police
  • Agent reviews with Buyer the mortgage, closing and ongoing ownership costs pertinent to selected property
  • Agent and Buyer review property disclosure package from Listing Agent
  • Agent queries Listing Agent further on property issues, Seller situation and preferences, past offers, existence of other current offers and offer presentation guidelines
  • A comparative market analysis of the property is prepared and reviewed to determine offer price
  • Financing pre-approval letter procured from loan agent
  • Agent and Buyer review offer and negotiation strategies, including offer price, due diligence contingencies, fixtures and personal property included, and close of escrow
  • Offer contract is written at Buyer’s direction; Agent collects Buyer’s initial deposit check
  • If very short contingency periods are being offered for inspections and/or financing, Agent to coordinate scheduling of tentative inspection and appraisal appointments
  • Agent prepares offer for presentation to Seller and/or Listing Agent: agency disclosure, offer letter, loan pre-approval letter, copies of Buyer-signed disclosures, etc.
  • Agent negotiates offer and counter-offers on Buyer’s behalf and at Buyer’s instruction
  • Agent receives back from Listing Agent the fully executed purchase contract, carefully reviews it for completeness, and provides copy to Buyer
  • Escrow is opened, Preliminary Title Report ordered, Buyer’s initial deposit check delivered to escrow company
  • Agents provides escrow information and copy of accepted contract to Loan Agent
  • Agent prepares a Timeline for the Removal of Contingencies and Close of Escrow for Buyer, Listing Agent and Escrow Agent detailing contractual obligations of each party
  • Appraisal appointment coordinated with Lender and Listing Agent
  • Buyer confirms homeowner’s hazard insurance for new home; Buyer’s Insurance Agent contacts Escrow Officer with required policy information
  • Agent coordinates Buyer-specified inspections—structural pest control, contractor, structural engineer, soils, roof, fireplace, etc. (see Buyer’s Inspection Advisory)
  • Agent monitors the timely receipt of property disclosures, reports and other documents, as statutorily or contractually required, for Buyer’s review and approval
  • Preliminary Title Report is carefully reviewed by Agent, Buyer, Lender and, as necessary,  Buyer’s attorney
  • Agent attends all inspections with Buyer; Agent completes Selling Agent portion of Real Estate Transfer Disclosure Statement after careful walk-through of the property
  • Agent and Buyer carefully review inspection reports for Buyer’s approval, further clarification or objection
  • Agent and Buyer review county/city, natural and environmental hazard and other required reports for Buyer’s approval, further clarification or objection
  • Agent facilitates collection of additional information—further inspections, contractor quotes, legal advice, etc.—necessary for Buyer to understand/quantify issues pertinent to the property’s condition or circumstances
  • Agent verifies loan commitment and funding details with Lender and Escrow Agent
  • As applicable, contingencies of sale—financing, investigation, title, etc.—are removed, or Agent re-negotiates the terms of the purchase at Buyer’s instruction. Agent prepares appropriate addenda or contingency removal documents
  • Buyer increases deposit in escrow as contractually specified. Agent prepares the Receipt for Increase Deposit/Liquidated Damages for Buyer and Seller signature
  • Property repairs or remediation, if any, are completed by Seller
  • Buyer final walk-through of property
  • Buyer consults with Buyer’s accountant or attorney to determine method of holding title
  • Agent reviews Home Warranty option with Buyer
  • Agent provides final instructions to escrow, and confirms Seller’s FIRPTA affidavits
  • Agent and Buyer review the Estimated Closing Statement, and, if Buyer desires, complete loan and closing documents for Buyer’s review prior to signing appointment
  • Agent and Buyer meet Escrow Agent for signing of closing documents
  • Buyer makes arrangements for final funds—balance of cash deposit and closing costs—to be delivered to escrow by wire or cashier’s check
  • Buyer makes moving arrangements, schedules change of utilities and alerts any Homeowner’s Association of pending change of ownership
  • Agent confirms with Escrow Agent everything is set for scheduled close of escrow
  • Buyer loan funds; transfer of title is recorded
  • Close of Escrow
  • Agent procures and delivers keys, alarm codes, garage genies to Buyer
  • Agents follows up to check in, offer help, provide resources, and solve any problems that might have arisen

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