Designed Realty brokers go through intensive training on all aspects of a real estate transaction. Your agent will review the purchase process with you and make sure you are familiar with the basics. Our brokers advance their knowledge on an ongoing basis through continuing education. One of our core values is to be curious, and they take this to heart. We encourage you to quiz them and learn a few things, no question is too small or insignificant, so we invite you to be curious too.
You will hear both terms. Both refer to your real estate broker/agent. We all hold “Broker” licenses through Washington State. When you hire us, we become an “Agent” for you.
You may have cash for this purchase, but most people are going to need to finance their purchase. Sellers want to see proof of funds or a pre-approval letter from a lender when you submit an offer.
Getting pre-approved may feel like a hassle – your lender is going to want all sorts of documents from you, ranging from pay stubs to tax returns. They may ask you to write a letter of explanation about certain things that come up. They will pull your credit. YES – all of this is necessary! Go through these steps now, so you are organized and ready to move quickly when it is time to pull the trigger. You are simply smoothing out the road ahead for yourself.
We have excellent lending partners we can introduce you to. Having a conversation with a lender will give you the specific financial information you need. Your lender will help you determine what kind of loan program will work for you, and how much of a down payment will be needed. We highly recommend working with our trusted lending partners, but we are happy to work with whomever you choose. Your agent will not be shy about giving you their opinion if they see red flags however, it is their job to keep you informed and give you counsel!
For some folks, this is the fun part, for others, it is the most stressful! Your agent will work with you to develop a customized search. They are trained to listen and learn about you. They will then take your living circumstances such as family size, commute, lifestyle, etc. and turn those into search fields we can quantify.
We believe you need to look at homes in order to understand what you want. We recommend setting up an initial “Dry Run”, where we pick 8-10 homes and go look with absolutely no intention of buying. This is an education process and will help you understand what you like and do not like, what your dollar buys you where, and will help you start to see through the pictures online.
Looking at homes is easy – all you must do is reach out to your agent! We strive to accommodate your schedule. If you want to look at homes the same day, we can do that. If you want to set up a group of homes for a weekend, we can do that. Our brokers work FULL TIME and you are their highest priority. Yes, if you think you want to see it, you should go see it. We are never too busy to show you a home.
You have found the home you want. It is the right size, right location, right price.
It is time to make an offer!
Your agent will review closely with you your situation and the property you are interested in. They will also clarify anything that you do not understand.
An offer is a contract and you need to understand what you are signing. This process can be fast, or it can be long and drawn out. Every situation is unique, and your agent will make sure you know what to expect.
When your offer is accepted by all parties, we enter the escrow process. In Washington State, most home purchases are closed by Limited Practice Officers (LPOs) employed by title or independent escrow companies.
A limited practice officer, or LPO, is a person licensed by the Washington Supreme Court under Rule 12 of the Washington Supreme Court’s Admission and Practice Rules (APR). A LPO is licensed to select, prepare, and complete approved documents for use in closing a loan, extension of credit, sale, or other transfer of real or personal property. LPOs have a limited license to practice law and are held to the same standard of care as a lawyer when performing the services authorized by the LPO license. LPOs are bound by the LPO Rules of Professional Conduct (LPORPC) and, as established in LPORPC 1.9, LPO duties and authority cannot be delegated to a person who is not an LPO.
In a home purchase, an LPO takes money from a buyer and a deed from a seller, makes sure everything is legal and appropriate, and then exchanges the money for the deed.
Your agent will walk you through what to expect in this process. Every contract is different, with different timelines and benchmarks. Your agent will review with you closely what your obligations are. Don’t be shy about asking questions – it’s your money on the line!
In Washington State, due diligence falls on the buyer. A home seller is required to provide a disclosure form to a buyer upon sale, but this is a “to the best of your knowledge” type disclosure. Often sellers do not know the history of their own home, especially if they have not lived there for long, so we recommend getting your own independent inspections.
We work closely with several home inspectors. These inspectors will make you aware of all material defects with the home, without panicking you over a leaky faucet. You will receive written reports that give you a complete picture of the property as well as a preventative maintenance roadmap. In the event, we find something that is beyond a home inspectors’ normal scope and you need a specialized inspection by a structural engineer, an electrician, roofer, etc. we have a network of specialists we trust to respond timely and honestly.
Your agent will be onsite during all inspections. They will be in communication with the sellers throughout, asking questions that the inspector may have. Your agent will guide you through this process.
For folks who buy homes with home loans, this is a critical piece of the puzzle!
An appraisal is a paid opinion of value. An appraiser is a person getting paid to give their opinion of value. Whatever lending institution you are working with is likely going to require this to fund your loan.
This is different than a home inspection. DO NOT rely on an appraiser to inspect the home! An appraisal consists mainly of comparing the home against other homes in the area. It is a way for all parties involved to have a third party “justify” the purchase price, but it is not a replacement for a full home inspection.
Close to the closing date on your contract, your LPO will reach out to you to schedule to an appointment to sign your purchase documents. These will likely need to be notarized, so they will invite you to their office, or offer to send a mobile notary to you at your convenience. You will be guided helpfully through the documents and given a copy of them at the end. These documents are then verified, and on closing day are recorded at the county recorders office. Your agent will then coordinate with you directly to arrange to get you your keys!
Designed Realty brokers go through intensive training on all aspects of a real estate transaction. Your agent will review the purchase process with you and make sure you are familiar with the basics. Our brokers advance their knowledge on an ongoing basis through continuing education. One of our core values is to be curious, and they take this to heart. We encourage you to quiz them and learn a few things, no question is too small or insignificant, so we invite you to be curious too.
You will hear both terms. Both refer to your real estate broker/agent. We all hold “Broker” licenses through Washington State. When you hire us, we become an “Agent” for you.
You may have cash for this purchase, but most people are going to need to finance their purchase. Sellers want to see proof of funds or a pre-approval letter from a lender when you submit an offer.
Getting pre-approved may feel like a hassle – your lender is going to want all sorts of documents from you, ranging from pay stubs to tax returns. They may ask you to write a letter of explanation about certain things that come up. They will pull your credit. YES – all of this is necessary! Go through these steps now, so you are organized and ready to move quickly when it is time to pull the trigger. You are simply smoothing out the road ahead for yourself.
We have excellent lending partners we can introduce you to. Having a conversation with a lender will give you the specific financial information you need. Your lender will help you determine what kind of loan program will work for you, and how much of a down payment will be needed. We highly recommend working with our trusted lending partners, but we are happy to work with whomever you choose. Your agent will not be shy about giving you their opinion if they see red flags however, it is their job to keep you informed and give you counsel!
For some folks, this is the fun part, for others, it is the most stressful! Your agent will work with you to develop a customized search. They are trained to listen and learn about you. They will then take your living circumstances such as family size, commute, lifestyle, etc. and turn those into search fields we can quantify.
We believe you need to look at homes in order to understand what you want. We recommend setting up an initial “Dry Run”, where we pick 8-10 homes and go look with absolutely no intention of buying. This is an education process and will help you understand what you like and do not like, what your dollar buys you where, and will help you start to see through the pictures online.
Looking at homes is easy – all you must do is reach out to your agent! We strive to accommodate your schedule. If you want to look at homes the same day, we can do that. If you want to set up a group of homes for a weekend, we can do that. Our brokers work FULL TIME and you are their highest priority. Yes, if you think you want to see it, you should go see it. We are never too busy to show you a home.
You have found the home you want. It is the right size, right location, right price.
It is time to make an offer!
Your agent will review closely with you your situation and the property you are interested in. They will also clarify anything that you do not understand.
An offer is a contract and you need to understand what you are signing. This process can be fast, or it can be long and drawn out. Every situation is unique, and your agent will make sure you know what to expect.
When your offer is accepted by all parties, we enter the escrow process. In Washington State, most home purchases are closed by Limited Practice Officers (LPOs) employed by title or independent escrow companies.
A limited practice officer, or LPO, is a person licensed by the Washington Supreme Court under Rule 12 of the Washington Supreme Court's Admission and Practice Rules (APR). A LPO is licensed to select, prepare, and complete approved documents for use in closing a loan, extension of credit, sale, or other transfer of real or personal property. LPOs have a limited license to practice law and are held to the same standard of care as a lawyer when performing the services authorized by the LPO license. LPOs are bound by the LPO Rules of Professional Conduct (LPORPC) and, as established in LPORPC 1.9, LPO duties and authority cannot be delegated to a person who is not an LPO.
In a home purchase, an LPO takes money from a buyer and a deed from a seller, makes sure everything is legal and appropriate, and then exchanges the money for the deed.
Your agent will walk you through what to expect in this process. Every contract is different, with different timelines and benchmarks. Your agent will review with you closely what your obligations are. Don’t be shy about asking questions – it’s your money on the line!
In Washington State, due diligence falls on the buyer. A home seller is required to provide a disclosure form to a buyer upon sale, but this is a “to the best of your knowledge” type disclosure. Often sellers do not know the history of their own home, especially if they have not lived there for long, so we recommend getting your own independent inspections.
We work closely with several home inspectors. These inspectors will make you aware of all material defects with the home, without panicking you over a leaky faucet. You will receive written reports that give you a complete picture of the property as well as a preventative maintenance roadmap. In the event, we find something that is beyond a home inspectors’ normal scope and you need a specialized inspection by a structural engineer, an electrician, roofer, etc. we have a network of specialists we trust to respond timely and honestly.
Your agent will be onsite during all inspections. They will be in communication with the sellers throughout, asking questions that the inspector may have. Your agent will guide you through this process.
For folks who buy homes with home loans, this is a critical piece of the puzzle!
An appraisal is a paid opinion of value. An appraiser is a person getting paid to give their opinion of value. Whatever lending institution you are working with is likely going to require this to fund your loan.
This is different than a home inspection. DO NOT rely on an appraiser to inspect the home! An appraisal consists mainly of comparing the home against other homes in the area. It is a way for all parties involved to have a third party “justify” the purchase price, but it is not a replacement for a full home inspection.
Close to the closing date on your contract, your LPO will reach out to you to schedule to an appointment to sign your purchase documents. These will likely need to be notarized, so they will invite you to their office, or offer to send a mobile notary to you at your convenience. You will be guided helpfully through the documents and given a copy of them at the end. These documents are then verified, and on closing day are recorded at the county recorders office. Your agent will then coordinate with you directly to arrange to get you your keys!
Designed Realty is a licensed real estate broker and abides by Equal Housing Opportunity laws.
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