A GUIDE FOR BUYERS
Finding the right home in the perfect neighborhood and at a cost that is within your budget is no small task. I am here to be your expert guide as you look for a new place to call home. There are some main things that are good to know when purchasing a home in Seattle:
- Your agent is there to help you make an offer and work with you if the seller has a counteroffer until you agree with the seller on the price, terms and closing date.
- The offer will include an Earnest Money Check. In Seattle, the standard for earnest money is 3-5% of the purchase price. This is deposited within 3 days of agreeing on all the terms of your offer.
- Inspection is the next step. If the property is new to the market you may want to seek a pre-inspection, and there are several other parties interested in the same property. During inspection, if the inspector finds an issue or area of concern, you can request up to 5 additional days. In general, completing the inspection in a short amount of time is desirable because it shows the seller your willingness to work quickly through the process.
- If you are obtaining a mortgage to pay for your new home, you should plan to submit a letter of pre-approval from your lender. If you are purchasing with cash funds, you should be prepared to prove that the funds will be available at the time of closing.
- You will have the opportunity to review the property title report with the title company in order to ensure that the title is free of any liens, encroachments and/or encumbrances. The default time allotted for title review is 5 days after receipt.