Tips and Tools on Buying Your New Home
Home Buying ~ Step-by-Step

Select a Realtor®/establish a relationship

I am a full-time, professional Brokers/Realtor® with extensive market knowledge. I will work closely together to find the right home for you.

Initial Consultation with your Realtor®

I will meet with you to help to establish your home buying needs.

Identify property to buy

I will show you homes based on your criteria that we establish. The more precise and direct you are with me, the more successful your search will be.

Write offer to purchase

I will draft the Purchase Agreement for you, advising you on protective contingencies, customary practices, and local regulations. At this time you will need to provide an "earnest money" deposit, usually 1 to 3% of the purchase price (the deposit is not cashed until your offer has been accepted by the seller).

Presentation of offer

I will present your offer to the Seller and/or the Seller's agent. The Seller has three options: they can accept your offer, counter your offer, or reject your offer. My personal knowledge of your needs and qualifications will enable me to represent you in the best way possible.

Seller's response

I will review the Seller's response with you. My negotiating skills and knowledge will benefit you in reaching a final agreement.

Open escrow

When the Purchase Agreement is accepted and signed by all parties, I will open escrow for you. At this time your earnest money will be deposited. The Escrow or Title Company will receive, hold and disburse all funds associated with your transaction.

Contingency period

This is the time allowed per your Purchase Agreement to obtain financing, perform inspections, and satisfy any other contingencies to which your purchase is subject. Typical contingencies include:
  • Approval of the Seller's Transfer Disclosure Statement
  • Approval of the Preliminary Report from the Title Company
  • Loan approval, including an appraisal of the property
  • Physical inspections of the property
  • Pest inspection and certification

Homeowner's Insurance

I will coordinate between your Insurance Agent and the Escrow Officer to make sure your policy is in effect at the close of escrow.

Down payment funds

You will need a Cashier's Check or money transfer several days prior to the closing date of escrow.

Close escrow

When all of the conditions of the Purchase Agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow and your lender will deposit the balance of the purchase price. The Deed will then be recorded at the County Recorder's Office and will take ownership of your home.
Home Buying ~ Tools
When buying a home—whether it's your first, or your vacation home you're bound to have a few questions. Here I've provided a few tools and some step-by step information about the home finding and buying process. I hope you find these tools and tips useful.

Mortgage Calculator

Use this tool to help estimate your monthly payments with taxes and insurance.

Amortization Schedule

Generate an amortization schedule; calculate monthly payments; see the effects of prepayments.

Credit Grade Calculator

This calculator will grade your credit using the number of late payments you have on various credit accounts. This is not a true credit score, but will give you a good idea of what to expect.
Current Mortgage Rates
30 Year Fixed 4.8%
15 Year Fixed 4.09%
5 Year ARM 3.7%
1 Year ARM 3.26%

Comparative Market Analysis
I will help you to establish your home's current market value.

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Free Market Update
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Contact Information:
P. O. Box 2286 Lake Arrowhead, CA 92352
Mobile: (909) 844-0099 Toll Free: (800) 498-0055
E-Mail: pat@patmorris.com