The First Steps in Buying a Home 

Buying a home can be an exciting time.  Below is some information to guide you through the home buying process to make the experience as smooth as possible.

1. Select an agent to represent you and establish a relationship.  The Joys are full time, professional agents with broker licenses and extensive market knowledge.  We are committed to working closely with you to find the right home that satisfies your requirements and is within your price range.

2. Get preapproved by a mortgage broker or lending institution.   We will provide information on loan resources in order for you to get the best financing available.

3. Identify the property to buy.  We will conduct a search on the Multiple Listing System (MLS) and provide an e-mail link to those homes that best satisfy your requirements.  Once you have screened those homes and selected the homes that most interest you, we will set up appointments and visit the properties.  During these visits we will ask you questions about what you like or dislike about the property which will help us guide you to find the best property that satisfies your requirements.    
 
4. Write an offer to purchase.   Once a property is selected we will contact the listing agent directly to establish its status and find out if there is any additional information that was not on the MLS.  We will also conduct a Comparative Market Analysis (CMA) of the property to determine its fair market price range.  Next, we will draft the Purchase Agreement for you, advising you on protective contingencies, customary practices, and local regulations.  At this time you will need to provide a deposit, usually about 2% of the purchase price (the deposit is not cashed until your offer has been accepted by the Seller and escrow is opened). 
       
5. Presentation of the offer.   We will present the offer to the Seller and the Seller´s agent.  The Seller has three options: they can accept your offer, counter your offer, or reject your offer.  Our knowledge of you and the offer process will enable us to represent you in the best possible way. 

6. Seller´s response.  We will review the Seller´s response with you.  We will then use our negotiation skills and knowledge to your benefit in reaching a final agreement.

7. Open escrow.   When the Purchase Agreement is accepted and signed by all parties, we will open escrow for you.  At this time your deposit will go into an escrow account and be cashed.  The escrow company will receive, hold and disburse funds associated with your transaction.

Want more information? Call us at (858) 472-3888 or contact us here.