You've decided to buy a home.

Do your research to find a trusted Realtor; ask friends and family for a recommendation. Think of what’s important to you when selecting an agent and make a list of questions to ask when doing interviews.

Take the time to research lenders or ask your Realtor for a recommendation for a good loan officer. There are many loan programs out there but a good lender will find the loan that best fits your needs.

Take the time to think about the things you absolutely need in your new home (number of bedrooms, minimum square footage or a short commute) as well as the things you want but could do without (like a pool or spa). Make a list of both and discuss it with your real estate agent. A list will help you focus on the important components and characteristics you are looking for in your new home.

Take the time to drive through different neighborhoods so you can identify the areas in which you’d like to live. This saves time and allows your agent to focus on the areas in which you are most interested.

Now for the fun part! Set an appointment with your agent to start viewing homes! The time to locate your new home can vary depending on the current market, the inventory and other various factors.

When you find a home that may be “the one,” your real estate agent will write up an offer. Your agent will guide you through the process of looking at comparable properties and coming up with your offer price. Once your offer has been submitted, it usually takes 1-3 days for the Seller to respond. They can accept your offer as written or they can send you a counter offer changing any terms that they are not on board with. If you receive a counter offer, you have the option to accept or counter back. The counter offer process can take a few days until all parties can come to a mutual agreement on terms.

After the offer is accepted, it’s time to open escrow. Depending on the terms of your offer, the escrow period is typically 30-60 days. You will need to send your initial deposit to escrow, usually through a wire transfer. Now it’s time for you and your agent to gather the necessary documents for your lender to complete the underwriting process and approve the loan.

Your lender will hire an appraiser to determine your home’s value. The appraisal is typically scheduled within a week from acceptance of your offer and it usually takes 3-5 days to receive the report, once the appraisal has been completed.

You may want to have a home inspection performed on the property. While it’s not mandatory, it is strongly recommended so you know the condition of the home before you complete the purchase. You typically have 10-17 days to complete all inspections on the home but it’s a good idea to schedule it right away so you have time to review the report and negotiate a repair request, if needed. It normally takes 24-48 hours to receive a copy of the inspection report after the inspection has been performed.

The Seller has 7 days from acceptance of your offer to provide you with all of the disclosures for the home. Upon receiving the disclosures, you and your agent will review and you will acknowledge that you have received and read through them.

After the appraisal has been completed and your lender has all of the requested documentation (pay stubs, verification of employment, bank statements, tax returns, etc.), they will process the loan and give you final loan approval. This process usually takes about 21 days. When the final loan approval is issued, your lender will draw loan documents for your signature which is done at escrow in front of a notary; loan docs are typically issued within 3-5 days from final loan approval. When you go to escrow to sign your loan docs, the escrow officer will tell you the amount of funds you will need to wire; the wired funds go towards the balance of your down payment and closing costs. The wire should be sent within 24 hours of signing loan documents.

Within a week before closing the transaction, you and your Realtor will do a final walk-thru of the property to check the condition, making sure it’s in the same relative condition as when you first saw the home; if any repairs were made, this is the time you will verify that all repairs are complete.

Your lender and the escrow officer will do a final audit of their files and if everything is complete, the loan will be set up to fund and the Grant Deed will be recorded, completing the sale of the property.