Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step buyer’s guide created by Mara Haveson will help reduce the stress of buying a home and help you enjoy the journey as much as possible.
Connect with Mara Haveson, a licensed Compass real estate agent and Managing Broker who is knowledgeable about the neighborhoods you’re considering and can help guide your search.
Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching.
Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying the full price of the home in cash). Mara can connect you with a trusted mortgage broker. Based on your income and credit history, the mortgage broker will determine how much a bank will lend you, which will help you determine the price range for your search.
Now is the time to consider your ideal home’s location and amenities. You will attend viewings and open houses spanning a range of areas and property types. I am available to show you a home 7 days a week.
Once you identify a home you like, we can submit an offer, which is an agreement to pay a certain price for the home. This offer is packaged with a Proof of Funds (POF) and a Pre-Approval Letter. Note: if your offer is lower than the list price or the terms are not acceptable to the seller, the seller will likely return with a counter-offer price or acceptable terms, which you can accept, reject, or make another counter-offer. Mara will provide advice throughout the entire process.
My goal is to provide you with the most personalized service that is designed to help you buy your dream home.
(Life of an Escrow: 30 & 45 day escrow period)
Day 1 Once your offer is accepted, escrow will officially open and the clock begins
on contingencies*
Day 2 Contact your
insurance agent for homeowners coverage
Day 3 Initial deposit is due
per terms of agreement
Day 1-17 Seller delivers disclosures to buyer. Buyer performs inspections (Step 6)
Day 1-21 Loan is in underwriting and appraisal occurs (Step 7)
Day 7-30 I 21-45 Seller signs grant deed and staging is removed, if any (Step 7)
End of Escrow Within final week of escrow period, the buyer signs all loan and closing documents and wires in closing funds
(Step 10)
Day 30-45 Loan funds and escrow closes (recordation)
*This escrow process is based on a standard 30-45 day transaction
It is the buyer’s duty, with Mara’s guidence, to schedule all desired home inspections and determine the overall condition of the property within the agreed timeline and contractual contingencies. Buyer will also review the disclosures and the Preliminary Title Report. You may approve or negotiate credits/repairs. Prior to closing, Mara will schedule a final walk-thru of the property to verify property is still in acceptable condition and any negotiated repairs
were done.
Organize an appraisal with your bank. Your completed mortgage application with all supporting documentation should be submitted to your chosen lender upon receipt of the fully signed Purchase Agreement. The bank then issues the loan approval. Consequently, the buyer wires the closing funds with the homeowner’s insurance in place, and then the loan will be funded with clearance
to close.
After signing the final paperwork to complete the purchase, you are now the owner of a new house. Once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Address
4531 California Ave., SW
Seattle, WA 98116
Mara Haveson