Once you have found your perfect property, your realtor will research the homeowner's motivation for selling, helping leverage your negotiating power in an offer to purchase.

Your realtor will draft a purchase agreement, advising you on customary practices, local regulations, and protective contingencies. You will need to provide an "earnest money" deposit at this time, usually ranging from 2% to 5% of the purchase price. The deposit amount is not cashed until your offer is accepted by the seller.
Your realtor will represent your offer to the seller and/or the seller's realtor.  The seller will then either accept your offer, counter your offer or reject your offer.

Your and your realtor will review the seller's response.  Your realtor's knowledge of the process and strong negotiation skills will help you reach an agreement you fell good about.

Your realtor will open escrow for you once the purchase agreement is accepted and signed by all parties.  Your "earnest money" will be deposited at this time.  All funds associated with your transaction, either held, received, or distributed, will be handled by your escrow or title company.

• Lender's Title Policy
• 1/2 of Escrow Fee
• All new loan charges (except those required by lender for seller to pay)
• Interest on new loan from date of funding to 30 days prior to first payment date
• Assumption/Change of Records fees for takeover of existing loan
• Beneficiary Statement Fee for assumption of existing loan
• Inspection Fees (roofing, property inspection, geological, etc.)
• Home Warranty (according to contract)
• Document preparation (if applicable)
• Notary Fees
• Recording charges for all documents in buyer's names
• Tax proration (from date of acquisition)
• Fire Insurance Premium for first year
• Homeowner's transfer fee (according to contract)

This time period is determined by your purchse agreement and is used to obtain and perform the following items:

• Physical Inspection of the Property 
• Property Pest Inspection
• Property Appraisal
• Secure a Lender
• Obtain Loan Approval
• Approval of Seller's Transfer Disclosure Statement
• Preliminary Report Approval from Title Company
• Satisfy Purchase Contingencies

Your realtor will work with your escrow officer and insurance agent to ensure your policy is in effect by the close of escrow.

Prior to the close of the escrow, you will need a cashier's check or wire transfer.

You will sign all loan documents and closing papers when all conditions of the purchase agreement have been met.  After you deposit the balance of your down payment and closing costs with the escrow holder, your lender will deposit the balance of the purchase price.  The County Recorder's office will record the deed, and you will take ownership of your home.