Buyer's Guide

01 Contact Us!

Connect with The JLC Team to set up a time to meet so we can learn more about your timing and goals and help you with the following process!

02 Get Pre-Qualified

Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying the full price of your home in cash). We can connect you to a mortgage broker. Based on your income and credit history, the mortgage broker will determine how much a bank will lend you, which will help you determine the price range for your search.

03 Visit Properites

Now is the time to consider your ideal home’s location and amenities. We can set up a search for you based on your parameters and will begin to look at properties together. We will also activate notifications for exclusive Coming Soon and Off-Market properties as they hit the market.

04 Packaging and Submitting Offers

Once you identify a home you like, you can review the disclosures and put in an offer, which is an agreement to pay a certain price for the home. This offer is packaged with a Proof of Funds (POF) and Pre- Approval Letter. Note: if your offer is lower than the list price or with terms not acceptable to the seller, the seller will likely return with a counter-offer price or acceptable terms, which you can accept, reject, or make another counter-offer. Of course, The JLC Team will advise you throughout the process.

05 Under Contract Period

(Life of an Escrow: 21-30 day escrow period)

Day 1 Once offer is accepted, escrow is officially open and the clock begins on contingencies*
Day 2 Contact lender and your insurance agent for homeowners coverage
Day 3 Earnest Money Deposit (EMD) is due per terms of agreement
Day 1–7 Buyer performs inspections (Step 6)
Day 1–21 Loan is in underwriting and appraisal occurs (Step 7)
Day 21–30 Staging is removed, review of buyer's final numbers with lender and final walk through with JLC Team (Step 7)
Day 24-30  Seller signs their side of paperwork. Buyer wires in closing funds, signs loan and closing documents including deed. (Step 10). Settlement complete - Congratulations on your new home!

06 Home Inspections: Review Disclosures, Reports & Repairs

It is the buyer’s duty to schedule all desired home inspections and determine the overall condition of the property within the agreed timeline and contractual contingencies. You may approve or negotiate credits/repairs depending on the offer. Buyer will also review any documents (if condominium/co-op) and preliminary title report. Prior to closing, there will be a final walk-thru of the property to verify property is still in acceptable condition and any negotiated repairs were completed.

07 Loan, Appraisal, & Closing

Your completed mortgage application with all supporting documentation should be submitted to your chosen lender.  Once you have a ratified contract, your mortgage lender will ask you to complete the  mortgage application with all supporting documentation and to set up your homeowners insurance.  Your lender will then order an appraisal and eventually you will get a loan approval. The lender and escrow (or title) company work closely together and you will get a closing disclosure to review.  The closing disclosure will tell you how much cash is needed to close.  Once you know this amount, money can be wired to the title company and then the loan will be funded with clearance to close. Closing or settlement occurs - which means you will sign a lot of paperwork, including all of the loan documents and the deed is transferred.  ​​​​​​​

08 Welcome Home!

Congratulations! You are now a homeowner.