We here at Delphi Realty, recognize that buying a home can be a confusing and complicated process. To help you prepare for the steps involved in buying a home, we have put together this Buyer's Guide describing the basic steps to buy a home.

When you have found a home that you want to buy, you will want to make an offer to purchase that property.

Bidding and Negotiating
This is how the bidding process on a home typically works:

• Your agent will submit an offer on your behalf to the seller’s real estate agent, along with the presentation of your qualifications and other instructions that are requested by the listing agent. This may be done orally or in writing.
• The seller may accept or counter your offer as part of a price negotiation or other terms.
• In the case of multiple bids, your agent will work with you to structure a “highest and best” offer that you are comfortable with.
• The conclusion of the process will result in agreement upon the price, terms and closing date.

Going to Contract

Once your offer to buy the home, has been accepted, you will enter the contract stage.

Your buyers agent will exercise “due diligence” by asking for certain key documents from the seller or seller’s agent. These typically include:

• Disclosures regarding the subject property
• Home or other inspections reports performed on the subject property
• Preliminary report on the subject property

Closing

Once the buyer has removed all contingencies and the loan is ready to be funded the buyer’s agent will schedule a final walk-through inspection of the property for you, immediately prior to closing the closing usually occurs in the escrow /title company. The exact date should be flexible to accommodate everyone (you, the seller, the banks, and the buyer and seller agent). It is best to allow for a potential delay of up to 30 days from the closing date specified in the contract.

Example of items that are Closing Costs for Buyers:

Bank fees (if financing; application, credit reports, appraisal, etc.): $ varies on from lender to lender

• Title/Escrow fee
• Prorated Property Tax
• Prorated interest on new mortgage
• Homeowner/home warranty insurance
• City & County transfer fees
• Home & other inspections fees
• HOA Certificate/Transfer fees

* The above items are just some items of closing costs and buyer will need to consult with their agent regarding all related closing costs. All closing costs are negotiable and each county has a different custom on who pays for certain closing costs.