1. Time Buyer’s Journey:
The Road to Ownership1st

By Dan Carroll
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Prequalification Search & Seek The Offer

Final Items
Use an online financial calculator (http://on-msn.com/1oBNNQZ )
to determine how much you can afford. It’s better to see your own
financial “big picture” early on
Now begins the official prequalification stage. Real Estate firms
generally have qualified lender partners available to assist you so
you don’t have to go through this step on your own, although you
are more than welcome to seek out other lenders and banks.
Prequalification
Get these items ready:
Pay stubs for one month* Your most recent two years of your W-2 from your employer*
Past 3 months of bank and investment statements A letter describing any Gift Money
*Different items are required if self-employed or if you own your own business
Search & Seek

Sites & Apps:
Trulia — www.trulia.com Zillow — www.zillow.com
Realtor® — www.realtor.com

Virtual property searching has never been easier thanks to the
numerous websites and mobile apps available today. Be sure to save
the Multiple Listing Service (MLS) Number for any properties you
have interest in. Your agent will use this information to arrange a visit.
Most homeowners and their respective real estate agent will not allow the “general
public” to see a property unless it’s an open house. By this point you should be working
with your own agent. Your agent will also help you find properties that may not be listed
online, so make sure to contact me!
Working with an agent to buy a property will not cost you. Your agent makes their
commission through the seller of the property.
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
The Offer
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An offer often includes
Conditions that you would like met, if any Purchase price you are offering
Identify and question any concerns Official document prepared by your Agent
 When you see a property that is “the one,” you and your agent will
thoroughly examine everything in order to create a written offer for
the seller to review.
At this point, it is highly likely—and extremely common—that the
seller will come back with a counteroffer; usually based on your offer
price and/or the terms and conditions you’ve extended. This back-n-
forth may continue for a few rounds, until the win-win situation is
created.

Escrow Payment(s)
$ Once your offer is accepted by the
seller, you will then make a "good
faith” payment to show the seller
you are definitely interested in
moving forward on the deal.
This “earnest money deposit” is held
in a non-interest bearing account and
is applied at closing if the deal goes
through.
Buying a home is a multi-step process, but it’s a seamless one when you work with a
real estate agent. An agent's assistance spans the entire transaction and they
coordinate each step between all parties involved. This creates a seamless "one-stop
shopping experience”, so all you have to worry about is picking the place of your
dreams!

Final Items
THE HOME
STRETCH!
Move In!

Finally, you’re home!
The only bad thing:
this stage is perhaps
the most difficult part
of the entire process!
Home Inspection
 Radon Test
 ClosingTermite Check
During the last stages, your agent will make arrangements with the
respective professionals to carry out the various services required to
finalize the deal. Below is a summary of the items that fall into this
category (this may vary depending on the type of home or condo):
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
It’s important to get
your home checked
for any destructive
insects that may
affect the future
integrity of the
property.
A licensed
professional will
examine all aspects
of the property and
record all items that
should be noted.
Radon is a naturally-
occurring gas that
escapes through the
ground. Radon test
are simple, cheap and
take only a day.
The big day! Bring the
check book. Because
you’re almost home!
Note: some states
require an attorney at
settlement.
Dan Carroll, Real Estate Agent
Imagine Where You Want to Live Next
DanielCarroll215@gmail.com | 215.510.4263
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