Holland Law and Title

Holland Law and Title


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Place Title Order

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Calculators

Click here to download our cool new app, including closing cost calculators and much more.

Or click on one of the rate calculators listed below:

Basic Title Premium Calculator
Refinance Title Premium Calculator
Investment Calculator
19 in 1 Mortgage Calculator
Seller's Estimated Closing Costs
Buyer's Estimated Closing Costs
Reverse Mortgage Calculator

About Title Insurance

Home Ownership Tips and Articles

What to Expect in a Residential Transaction (Buyers)

Buying a home involves several stages. Below is a list of the more common steps during a residential transaction.

Your situation may vary and it is best to contact your real estate professional for more information.

Common Steps for Buying a Home

Initial Meeting;
Select real estate agent;
Determine needs and wants;
Determine financial eligibility;
Loan Qualification;
Discuss finances;
Obtain pre-qualification;
Find a Home;
Select an affordable property that fits your needs;
Discuss offer with agent;
Buyer reviews contract with agent;
Agent presents offer to selling side;
Present and Negotiate Offer;
Buyer prepares earnest money deposit (typically 1 to 3% of purchase price);
Seller accepts offer (Seller can accept your offer, counter your offer, or reject your offer);
Open Escrow;
Deposit earnest money into escrow; 

Deliver Option check to Seller;

Escrow will order Title Commitment;
Submit Loan Application;
Option (Contingency) Period; 
Conduct Physical Inspection of property by a qualified inspector;
Approve seller's Transfer Disclosure Statement;
Approve Preliminary Report;
Conduct property appraisal;
Obtain loan approval from lender;
Perform termite inspection and certification;
Obtain Homeowners Insurance;
Select insurance company and coverage;
Insurance will be in effect at close of escrow;
If applicable, obtain Home Owner's Warranty,
Holland Law & Title receives documents;
Down Payment;
Need cashier's check or money transfer prior to closing date;
Closing the Escrow;
Deposit down payment and closing costs to escrow;
Lender sends balance of purchase price to Holland Law & Title
Deed is recorded with County District Clerk's office;
Get your keys and move in!