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The Home Buying Process
What is Escrow?

1)—Find a Realtor

Why? They answer your questions, represent your best interest vs the seller and it’s FREE for you.

2—Pre-Approval

Meet with a lender to determine the max loan amount you are approved for. Prelim documents required: W-2s, pay stub, bank statements & tax return

3—Find A Home Communicate your wants & needs to your Realtor, so that they can show you homes that fit your current needs

4—Make An Offer Your Realtor will negotiate on your behalf to get your offer accepted.

5—Open Escrow Your lender will work on getting your loan approved, while your Realtor takes care of the rest. Prepare to read & sign many documents

6—Inspection Home inspection will be conducted by a professional home inspector. You will receive a list of repairs that may or may not need to be addressed.

7—Appraisal Professional home appraisers will determine the value of the home. This is important, as it can potentially affect your loan

8—Request for Repairs Inspection may reveal repairs that incur more costs. You will have an opportunity to request that the seller either makes these repairs or covers the cost

9—Contingency Removal All contingencies for this sale will be removed. Loan approval will be one of these contingencies, confirming that you are ready to close.

10—Final Walk-Through Walk through the property with your Realtor to ensure that It is in the same condition and repairs have been made

11—Close of Escrow You are officially a NEW homeowner and your Realtor will deliver you your keys!


Do’s Save & submit all future pay stubs Save & submit all completed future bank statements Keep copies of all documents submitted to processing Continue to pay all of your debts & loans

Dont’s Make any cash deposits Make any large purchases on your credit cards Co-sign a loan for anyone Change bank accounts Apply for new credit cards The Home Buying Process Escrow is a set time during the home buying process where an impartial 3rd party (escrow company) conducts the exchange of payment for the property, in order to finalize the transaction. The Escrow Period is typically around 30 days from acceptance of offer to close of escrow

The Escrow Timeline

Day 1 Schedule property inspections (home and termite).

Day 1–3 Initial deposit is to be paid to the escrow company.

Day 10 Review inspection, submit your request for repairs, and submit signed disclosures.

Day 17 All contingencies are to be removed (except loan).

Day 21 Loan contingency is to be removed and meet with escrow to sign documents

Day 25–27 Buyer’s closing funds are delivered to escrow. Day 28 Buyer’s final walk through of the property.

Day 29 Lender delivers the funds for the loan to escrow.

Day 30 Escrow closes, title is recorded and keys are delivered.


Do’s Continue to pay all of your debts & loans Dont’s Close credit cards or apply for new credit/loans. Make any large purchases on your credit cards Change bank accounts Make any cash deposits