What is The Home Buying Process?

The home buying process can be confusing if you haven’t bought several homes, and even if you have, the home buying process will vary in different parts of the country.  In the Sequim and Port Angeles area, we have issues of concern that are unique to our area.  This real estate blog has hundreds of articles explaining the home buying process from A to Z, but I thought it might be helpful to have a short summary of the basic process for buyers.

The Home Buying Process

1. Search for your home online with Sequim MLS;
2. Hire your Sequim Buyer’s Agent (or Port Angeles Buyer’s Agent);
3. Hire your mortgage broker;
4. After you’ve found the perfect home, have your agent draft the offer;
5. When you and the sellers agree on the price and all terms, you have mutual acceptance;
6. Your agent will take a copy of the agreement with your earnest money check to escrow;
7. Your agent will give your mortgage broker a copy of the agreement, and you start the loan application process;
8. Your agent will schedule the home inspection;
9. Your agent will schedule the well inspection (water flow test and quality test for bacteria and nitrates);
10. The seller is responsible for the septic inspection, but have your agent go over the report with you to see if repairs are needed or if the tank needs pumping;
11. Your agent should explain the preliminary title report and attached recorded documents, including the CC&Rs for restrictions on your property; and
12. Your agent will help you address the many challenges that will come up while your transaction is pending. Some can kill a transaction, and this list alone can be quite long, but an experienced agent will help you resolve even the most complex scenarios.

The Guided Home Buying Process

Frankly, not all buyer’s agents actually do all these things for buyers.  In fact, few agents do all of these well for buyers. Many agents tell their clients some of these are not their responsibility.  So step number 2 is kind of important, isn’t it? You can read more about each of these steps by simply reading the many articles on this real estate blog (search by phrases), but now you know all about the home buying process in Sequim and Port Angeles.

Last Updated on July 20, 2013 by Chuck Marunde