Page 19 - Buyer Guide

TRANSACTION TIMELINE

Initial Consultation with Agent
Your journey begins with a personalized consultation to discuss your goals, ideal location, budget,
and timeline. We’ll walk you through the market, outline what to expect, and introduce you to
trusted mortgage professionals and service providers to support you throughout the process.

Get Pre-Approved for a Mortgage
Before you begin house hunting, getting pre-approved by a reputable lender helps define your buying
power and makes your offers more competitive. This step involves submitting basic financial
information and receiving a pre-approval letter that you’ll include with any offer.

Begin Property Showings
With a clear budget and vision in mind, your agent will schedule private showings and curate options
that align with your criteria. Together, you’ll explore homes and evaluate how each one fits your
lifestyle and investment goals.

Submit an Offer
Once you’ve found the right home, your agent will guide you in submitting a strong offer, including
your pre-approval letter and an initial deposit (typically 1%). This offer may also include
contingencies for inspection, financing, or other terms important to you.

Accepted Offer & Signing Contracts
Upon offer acceptance, both parties sign either a Standard Form Contract or Binder Agreement and
the initial deposit is placed in escrow. At this point, the transaction becomes formal, and you move
quickly to schedule inspections and coordinate with your attorney.

Hire a Real Estate Attorney

If not already in place, you’ll retain an experienced real estate attorney to represent your interests.
They’ll review the contract sent by the seller’s attorney, negotiate terms if needed, and ensure your
legal protection throughout the deal.

Home Inspection
Within 3-7 days of signed contracts, you’ll conduct a home inspection to evaluate the property’s
condition. This includes structural components, mechanical systems, and potential environmental
concerns like radon, termites and lead, with negotiations following based on the results.

Sign Contracts

Once inspection issues are resolved, you’ll sign the formal purchase contract with your full down
payment (typically between 10%-20%) being wired or delivered to the seller’s attorney and held in
escrow.

19