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Buy Your Next Property With Us!

The Break Down

Home Buying

A Real Estate professional will draft a purchase agreement. Typically a purchase agreement is submitted with an earnest-money deposit. Once the purchase agreement is presented to the seller's real estate professional, the seller may accept, counter or reject the offer.

Opening Escrow

Once the agreement is accepted and signed by all parties, escrow will open. The Earnest money will then be deposited, and the escrow company will handle all funds associated with the transaction.

Entering the Contingency Period

The Contingency period, specified in the Purchase agreement, is the time used by the buyer and seller to obtain the required items for the transaction, some of these items are:​

  • Physical inspection of property

  • Property pest inspection

  • Property appraisal

  • Seller's transfer disclosure statement

  • Preliminary report from the title company

  • Satisfaction of any purchase contingencies

  • Loan approval

Obtaining Homeowners Insurance

When preparing to buy a home, the buyer must give escrow a homeowner's policy that is both in effect and acceptable to the lender by the close of escrow. Your realtor will work with the escrow company and the homeowner's insurance agent to ensure that the policy is, sufficient for the lender is in place.

Depositing Funds for a Down Payment and Closing Costs

Money is deposited into escrow, ideally by way of a wire transfer, so that the funds are readily available to close the transaction. The Purchase agreement dictates the earnest money to be deposited into escrow. For closing costs, the escrow company provides a statement of the estimated amount of funds to be deposited.

Signing Loan Documents

Before escrow can close, the buyer must review and sign all loan documents received from the lender. This is often done at an appointment set up with the escrow company.

Closing Escrow 

After all conditions of the purchase agreement have been met, the buyer will sign all the closing documents. Once the buyer has deposited the funds needed to close and the lender has approved the final loan documents, the lender will deposit the loan funds. Next, the deed executed and deposited by the seller will be recorded as a public record and the buyer will be the new homeowner.





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