Purchase Process

What You Need to Know in Buying Your Next Home


Purchase Process—Getting Prepared

We are here to guide you through the steps required to purchase a home and ensure a smooth process.

Take your time and figure out where you want to live. You will most likely be there for many years.

Choose an agent you feel confident in—one who will return your calls promptly and is willing to spend the time you need to search for the “right” property within your budget. Once you choose an agent you are comfortable working with, stay committed to that agent; he/she wants to be assured that the work they put into showing properties is not wasted time.

The real estate agent you choose will be your "buyer’s agent" and has a fiduciary responsibility to represent you and advocate for you—not the seller.

Meet with a mortgage broker to figure out your budget and what you are comfortable with financially. The broker will request:

  • Income Verification Like Recent Paystubs, W2s, or W9 If Self-Employed
  • Last 3 Months of Bank Statements
  • Copies of 401k and Any Other Investments Such As Stocks, Bonds, Life Insurance
  • Auto Loans
  • Last Two Years of Tax Returns
  • Copies of Any Leases on Investment Properties and Financial Data
  • Credit Card Balances
  • Request a Credit Report to Ensure Your Report Is Accurate (A Lending Institution Can Assist You in This Process)

If a family member gives you a gift to assist in the down payment, that family member is required to write a gift letter stating repayment is not expected, or the underwriter will see the large deposit and question it. Therefore, it is best to have the gift letter in hand so there are no questions or red flags.

Once you find a property you like, we will submit an offer with the following documents:

  • Offer to Purchase
  • A Check in the Amount of at Least $500
  • “Buyer’s Agent” Form Signed by You and the Real Estate Broker
  • Preapproval Letter From Your Mortgage Broker
  • A Brief Letter About Why You Want the Home (This Is Useful in a Bidding War)