The first step in the home buying process is to find an agent that is reputable and knowledgeable about the area where you are interested in living. At the same time, you need to get pre-approval through a lender so you have your price range for a home that works with your budget.

The time frame to purchase a property once your offer is accepted is usually 30 days to close.

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A seller’s market is when there is high demand and a low inventory of properties.

A buyer’s market is when the inventory is high and less demand.

A stratified market is when you have two different price ranges of houses that are moving very quickly in the market.

The buyer’s agent is paid by the seller on most closings.

Your credit score for a conventional loan should be at least 620 or higher.

A required down payment can range from 3.5 % to 20% depending on the type of loan.

It is not necessary to sell your current home before purchasing a new property. Your agent and lender should be able to help guide you through the process that works best for you.

When you begin your search for a new home, you and your agent should discuss the top 5 criteria of what you would like in your new home. If the property meets your criteria and you love the home then it should be a good fit.

Earnest money is a least a 1% deposit that is paid but you to the Title Company. You will be credited the earnest money at closing.

There is no set time frame in which a seller has to respond.

If your offer is rejected you have an opportunity to revise and resubmit.

I recommend that my client have a home inspection completed on the property of interest.

I highly recommend that you have the buyer schedule a final walkthrough the day of or the day before closing to insure the property is in the same condition as it was when the offer was accepted and that all agreed-upon repairs have been completed.