Wednesday, January 24, 2007

The Home Buying Process

Whenever I first meet with a buyer or a seller, I put together a “What’s going to happen next” list and we spend an hour or so discussing it. It’s particularly helpful for first time buyers, but even those seasoned in real estate like to be reminded so there are no surprises. Knowing what’s coming is a good first way to ease anxiety in what can be a stressful process.

Someone suggested putting it all in writing, available for reference. (Who am I to argue?) While others have tackled the issue (see here, for instance), Oregon has its own set of rules and I have my own set of biases. So I’ll spend the next few days, first for buyers then the differences for sellers, elaborating on each of these:

1. Choosing a Realtor; Consultation.

2. Pre-qualification with Lender.

3. Selecting/Viewing Homes. Decision.

4. Writing the Earnest Money Agreement.

5. Satisfying Contract Conditions (Escrow).

6. Signing/Closing.

7. Possession!!

As always, comments welcome!

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