The Buying Sequence

1. INITIAL INTERVIEW: Complete Buyer's Questionnaire.

2. PRE-QUALIFICATION: We will contact a lender who can promptly pre-qualify you. Lenders are encouraging buyers to get pre-qualified for a mortgage even before they begin looking for a house.

3. AGENT PREVIEW: I will preview every property in your price range that meets your parameters and select the best properties for your inspection.

4. HOUSE SEARCH: Together we will look at the best 5 to 7 properties of which at least one you will love.

5. OFFER: We will draft an agreement to present to the seller.

6. NEGOTIATION: We will negotiate the best possible price and terms for you.

7. LOAN APPLICATION: We will set up an appointment for you with a lender and assist you in supplying the lender with as much information as possible, as accurately as possible. The loan representative will be in constant contact with me regarding the status of your loan.

8. INSPECTIONS: We will assist you in selecting a contractor to inspect the home and make recommendations regarding any necessary repairs.

9. ESCROW INSTRUCTIONS: We will review a draft for accuracy before they are submitted to the buyer and seller for approval. You will sign and return escrow instructions.

10. HOME PROTECTION PLAN: If part of the contract, the home protection plan will be ordered.

11. TRANSFER DISCLOSURE: We will review the Sellers Transfer Disclosure statement listing all the defects of the property found by the seller and make recommendations to you.

12. DOCUMENTATION: Together we will submit paperwork supporting the application. Information commonly sought includes pay stubs, previous years' tax return and a financial statement verifying the source of the down payment.

13. VERIFICATION: The lender verifies the borrowers employment, income and down payment deposit. A credit report is ordered and verified.

14. APPRAISAL: We will see that the lender orders an appraisal immediately upon receipt of your loan application.

15. TITLE SEARCH: We will review the preliminary title report with you. This is the time any liens against the property are discovered. All liens must be cleared by the seller before a transaction can be completed.

16. TERMITE INSPECTION: Most loans require an inspection for termite and/or water damage. We will see that any problems that may need to be repaired before finalizing the sale are completed in order to prevent delays.

17. PROCESSOR'S REVIEW: The lender's loan processor package all pertinent information to be sent to the lending underwriter.

18. UNDERWRITER'S REVIEW: Based on the information put together by both the loan representative and the processor, the underwriter makes the final decision on whether or not a loan is granted.

19. MORTGAGE INSURANCE: Many lenders require private mortgage insurance when borrowers put down less than 20 percent of a fixed-rate loan or less than 10 percent on an adjustable loan.

20. APPROVAL: You will be notified that the loan is approved with or without conditions.

21. HAZARD INSURANCE: In California, lenders require fire and hazard insurance on the replacement value of the structure.

22. SIGNING: We will set an appointment for you when final loan and escrow documents are ready for your signature.

23. FUNDING: The lender sends a check for the amount of the loan to the title company.

24. CLOSE OF ESCROW: Documents transferring title are recorded with the county recorder.

25. CONFIRMATION OF RECORDING: The title company then authorizes the escrow company to draft a check to the seller.

26. WELCOME HOME: Possession and keys are transferred to the buyer.