Buying Process

A RACE TO THE FINISH! Think of this as a race, with you and your Zip Code East Bay agent running side by side (at a speed totally determined by you) until we cross the finish line!

1) SELECT A REALTOR
Select an agent, preferably at Zip Code East Bay(!), with the credentials, experience, and communication style that best fit your needs.

2) MORTGAGE PREAPPROVAL
Get in touch with a lender (Zip Code East Bay will be happy to refer you to one if needed) who will look closely at your credit score, income, current loans and down payment percentage. Once you are approved, it will be valid for 60-90 days. We need this piece of paper before we make any offers.

3) VIEW HOMES
Your Zip Code East Bay agent will work with you to figure out the best type of home, neighborhoods, price point; schedule and view homes with you at a time that works for your busy schedule.

4) SUBMIT OFFERS
Once you’ve decided on the home you want to buy, your Zip Code East Bay Agent will provide comparable sales nearby, review available disclosures and guide you in writing a competitive offer.

5) ESCROW OPENED
Congrats! Once your offer is accepted, it becomes a binding sales contract and you deposit your earnest money into an escrow account within three business days.

6) INSPECTIONS & DISCLOSURES
The seller often provides inspection reports prior to the sale. If you decide on further due diligence, your Zip Code East Bay agent will help you hire licensed professionals to perform home inspections. Once you are satisfied with the condition of the home, you sign all disclosures and remove your inspection contingency.

7) APPRAISAL & FINAL LOAN
An appraisal is ordered to establish an independent value of the property, and a final loan amount will be approved. Once the appraisal comes back and the loan is underwritten, the lender issues a final approval and we move to closing!

8) REMOVE ALL CONTINGENCIES
The contract specifies deadlines to remove any remaining contingencies, for example loan and appraisal. Once all contingencies are removed, you've cleared the last major hurdle to purchasing your new home!

9) SIGN ESCROW DOCUMENTS
Your loan documents will arrive at the title company and will be prepared for you to sign. Typically, buyers and sellers sign separately, either on-site or by mobile notary.

10) DOWN PAYMENT & LOAN FUNDING
You deposit the remaining funds due for down payment & closing costs. Once your funds are in, the lender gets clearance to close and sends the loan amount by wire transfer to the title company.

11) TITLE & CLOSE
Once all funds are in, the title company releases the grant deed of the home for recording at the county, usually for the next day. Once the grant deed is recorded, you own the home! 

12) MOVE IN
A­s soon as we receive notification from the county, your Zip Code East Bay Agent gives you the keys. Now it’s time for you to start your home improvement projects and/or start unloading the moving truck!