For Homebuyers

Purchasing your Home

The Offer: Your realtor can offer expert guidance on how much to offer on a given property based on a number of factors, including how long the property has been on the market, the overall pace of home sales in the area, and how competitively the property is priced. He or she acts as your liasion to the listing agent, who in turn represents the seller.

It's common to have one or more counter offers, and your realtor can advise you of options that may be available to sweeten the offer without necessarily raising the price. Soon after the offer is accepted, it will be necessary for you to place a small deposit (earnest money) in escrow, written to your realtor. That money is kept in a separate account, and cannot be removed until the sale is completed or cancelled.

Closing the Sale: Once the purchase terms have been successfully negotiated, your realtor continues as your advocate in ensuring that a home inspection is properly completed with findings to your satisfaction, and that a number of legal requirements are met. These include a lead-based paint assessment (for homes constructed prior to 1979), ensuring that there is a clear title to the property, and many other conditions.

When these items are completed, a closing date is set where all parties meet to exchange signatures and payment is made. At that point, congratulations — it's all yours!