01: Let's Connect
First, we will connect for an initial Buyer Consultation to discuss what your wants and needs are in your ideal location so we can help guide your search.
First, we will connect for an initial Buyer Consultation to discuss what your wants and needs are in your ideal location so we can help guide your search.
If you are obtaining financing, getting a pre-approval letter from a lender before submitting an offer is important because it shows you are more likely to meet the proposed settlement date. A pre-approval letter and a good faith estimate from a lender will also give you insight into the projected down payment, closing costs, and expected monthly payment.
We will establish a mutual business agreement. This document is designed to increase transparency by laying out our obligations to you, in addition to details on term length, commission, termination, exclusivity, representation, and property criteria. Once we are both aligned with the terms of the agreement, you will be asked to sign before we can show you or send you any properties.
Using the Compass CMA tool, we will run market analyses on comparable properties in the area to give you a clear understanding of current market value. Together, we identify your ideal home's location and amenities, and attend open houses in a range of areas. We will listen to your continued feedback and activate a Collection, or specialized search for properties as they hit the market until we fine a home you love.
Once we find the right home, we will advise on a competitive offer. The offer is an agreement to pay a certain price for the home if accepted and may include other terms, such as whether you are waiving any contingencies or in how many days you are willing to close. It is our job to guide you through the decision-making process to ensure you are confident with your offer.
The contract is the agreement between you and the seller to buy the property at a specified price. It also outlines the settlement company, the settlement date, and the amount for the earnest money deposit. An Escrow Deposit is a customary amount that the buyer places in escrow to show the seller their serious intent to purchase the property. This deposit is made only after both parties sign and agree to the contract, which is referred to as ratification.
Once an offer is accepted, escrow is officially open and the clock begins on contingencies.*
Contact your insurance agent for homeowners coverage.
Initial deposit is due per terms of agreement.
Seller delivers disclosures to buyer. Buyer performs inspections (Step 6).
Loan is in underwriting and appraisal occurs (Step 7).
Seller signs grant deed and staging is removed, if any (Step 7).
End of Escrow - Within final week of escrow period, buyer signs loan and closing documents and wires in closing funds (Step 10).
Loan funds and escrow closes (recordation).
It is our responsibility to coordinate all desired home and property inspections within the agreed timeline and contractual contingencies. We will also review and discuss the disclosures and preliminary title report. You may approve or negotiate credits and/or repairs. Seller does not have to agree to repairs or a credit. Prior to closing, we recommend scheduling a final walk-through of the property to verify property is still in similar condition as when was first toured.
If you are obtaining financing, your lender will let you know the list of financial documents necessary to provide to the lender, including a couple months of bank statements, tax records, pay stubs, etc. Typically you will have a mortgage contingency of the agreed upon length to obtain a mortgage commitment. Once your lender has all of your documents they will review them and issue a Clear-to-Close, which means your loan is complete and the file will be sent to the title company for closing. Your lender will have an appraisal done on the property.
Congratulations and Welcome Home! You are now a homeowner. We will continue to be your resource for all real estate questions and needs.
As your trusted advisor, we’ll be there to guide you throughout the home buying process to ensure that your experience is as seamless and stress-free as possible.
Collections lets you compare multiple properties—their size, neighborhood, amenities—within a visual workspace. Monitor market activity in real time, stay in constant contact with your agent, and invite collaborators to join in on the discussion.
Compass Search lets your agent filter and sort by a wide range of features and amenities. Plus, discover exclusive Compass listings you won’t find anywhere else and receive real-time notifications of new homes with customized Saved Searches!
Compass Bridge Loan Services provides access to competitive rates and dedicated support from industry-leading lenders, with the exclusive option to get up to six months of your bridge loan payments fronted when you sell your home with a Compass agent.
Whether clients are buying or selling a home or investment property, Brian Perry, and his carefully selected team of specialists, build trust by listening to client's goals, negotiating the best outcome, and providing exceptional customer service.
