These steps will help you better understand the process of buying your home through a Realtor or FSBO. This is for your benefit of understanding
the basic process, not all sales are the same.
1. Finding a Realtor
A. Interview Reators that you know or come recommended if possible. Realtors have minimal responsibility to a prospect until a mutual agreement
is signed between the buyer and the broker/agent.
B. Realtors are required to review Pennsylvania's Consumer Notice with all prospects during first contact. To review or print out the Consumer
Notice click here.
2. Now your're ready to buy your home.
A. Your Realtor will require you to sign a buyers agreement with the broker of record from the Realtors office. The buyers agreement is
negotiable, although most brokers and Realtors follow a set of office guidelines.
B. At this time you will choose a purchase price, agree on terms of the buyers agreement and the Realtor will, help you get a minimum
pre-approval from a bank or mortgage company. It is best for both you and the Realtor to know where you financially stand prior to viewing
homes, this pre-approval will also be used in the contract for the sellers benefit.
C. After you and your Realtor choose the features you are looking for and a price range in your budget, your Realtor will run a listing search. This
search for listings can be obtained by clicking this form, Listing Form.
D. Now you should drive by the homes you like from the listing sheet and decide if they are of interest. Once you chosen the homes you like, your
Realtor will set up showings for you to view.
3. Agreement to purchase offer.
Your Realtor will submit your sales agreement to the listing Broker/Realtor in timely manner.
A. Write an agreement of sale and submit, sometimes a counter agreement is required. All changes must be initialed. Then after you review the
counter changes you will need to initial all changes. If both the buyer and seller agree and initial all changes then you have a binding sales
contract.
4. After you agreed to a sales agreement time becomes very important for both buyer and seller because most contracts are based
on events getting done in certain time frames.
A. Mortgage companies require different and sometimes multiple inspections. The buyer may have their own inspector(s). Your contract may
depend on an inspection both timely and everything being functional to standard.
B. If repairs or upgrades are required they will need to be completed prior to closing. If repair cost exceed the contract both the buyer and
seller can either cancel the contract or negotiate the extras and add an addendum to the sales agreement.
5. At settlement the agreement is completed and the house changes hands.
A. The buyer generally picks the title company for settlement.
B. This is generally a half hour process.
6. Notes of interest
A. You have rights to negotiate all agreements prior to signing.
B. If you would like to print out or review the Consumer Notice click here.
C. If you would current listings please click here.
D. If you would like to know more or have a question please feel free to contact me click here.
the basic process, not all sales are the same.
1. Finding a Realtor
A. Interview Reators that you know or come recommended if possible. Realtors have minimal responsibility to a prospect until a mutual agreement
is signed between the buyer and the broker/agent.
B. Realtors are required to review Pennsylvania's Consumer Notice with all prospects during first contact. To review or print out the Consumer
Notice click here.
2. Now your're ready to buy your home.
A. Your Realtor will require you to sign a buyers agreement with the broker of record from the Realtors office. The buyers agreement is
negotiable, although most brokers and Realtors follow a set of office guidelines.
B. At this time you will choose a purchase price, agree on terms of the buyers agreement and the Realtor will, help you get a minimum
pre-approval from a bank or mortgage company. It is best for both you and the Realtor to know where you financially stand prior to viewing
homes, this pre-approval will also be used in the contract for the sellers benefit.
C. After you and your Realtor choose the features you are looking for and a price range in your budget, your Realtor will run a listing search. This
search for listings can be obtained by clicking this form, Listing Form.
D. Now you should drive by the homes you like from the listing sheet and decide if they are of interest. Once you chosen the homes you like, your
Realtor will set up showings for you to view.
3. Agreement to purchase offer.
Your Realtor will submit your sales agreement to the listing Broker/Realtor in timely manner.
A. Write an agreement of sale and submit, sometimes a counter agreement is required. All changes must be initialed. Then after you review the
counter changes you will need to initial all changes. If both the buyer and seller agree and initial all changes then you have a binding sales
contract.
4. After you agreed to a sales agreement time becomes very important for both buyer and seller because most contracts are based
on events getting done in certain time frames.
A. Mortgage companies require different and sometimes multiple inspections. The buyer may have their own inspector(s). Your contract may
depend on an inspection both timely and everything being functional to standard.
B. If repairs or upgrades are required they will need to be completed prior to closing. If repair cost exceed the contract both the buyer and
seller can either cancel the contract or negotiate the extras and add an addendum to the sales agreement.
5. At settlement the agreement is completed and the house changes hands.
A. The buyer generally picks the title company for settlement.
B. This is generally a half hour process.
6. Notes of interest
A. You have rights to negotiate all agreements prior to signing.
B. If you would like to print out or review the Consumer Notice click here.
C. If you would current listings please click here.
D. If you would like to know more or have a question please feel free to contact me click here.
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