Buying Guide

Let's Find Your Next Home!

Whether it's your first purchase or you're an experienced investor, it's important to approach your home purchase strategically.
Here is quick guide will walk you through everything you need to know about the home buying process to get you started.
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Any questions?
I’m here to help! Feel free to reach out.

How it works

Let's Make a Connection

We'll identify your real estate goals and review the home buying process in current market conditions. I'll learn about your needs, the neighborhoods you’re considering and the timeline. I'll help guide your search.

Get Pre-Qualified

Based on your income and credit history, the mortgage broker will determine how much a bank will lend you, to help determine the price range for your search.

Tour Properties

Now is the time to consider your ideal home’s location and amenities. You will attend viewings and open houses.

Submit an Offer

Once you identify a home you like, you can put in an offer. The seller will likely return with a counter offer, which you can accept, reject, or make another counter offer. I will provide advice throughout.

Home Inspections

You will select all desired inspections and determine the property condition within the agreed timeline and contingencies.You'll review disclosures and preliminary title report as well.

Loan Appraisals

Organize an appraisal with your bank.Your mortgage application and all supporting documentation should be submitted to your lender. The bank then issues loan approval.

Final Walkthrough

You and I will establish the best method
and frequency of communication for updates, metrics, and market info.

Completing the Close

The closing documents are signed, payment is exchanged, and you receive keys to your new home!

Welcome Home!

Congratulations! You are now a homeowner.

The Difference

My Compass Tools and Programs Help You Find Your Next Home

Collections

Collections lets you compare multiple properties within a central visual workspace. We can monitor market activity in real time, stay in constant contact, and invite collaborators to join in on our search discussions.

Our Search Tool

Compass Search can sort by a wide range of features and amenities to pinpoint the perfect home. Plus, discover exclusive Compass listings you won’t find anywhere else!

Coming Soon and Private Exclusives

Coming Soon and Private Exclusives give you an edge in your home search. Browse unique properties and discover your future home before it even hits the market.

APPRAISAL

Assessment of the property’s market value, for the purpose of obtaining a mortgage and performed by a licensed appraiser.

CLOSING COSTS

Expenses incidental to a sale of real estate, such as loan fees, appraisal fees, and title insurance.

CLOSING STATEMENT

The statement which lists the financial settlement between buyer and seller, and the costs each must pay.

CONTINGENCY

Certain criteria that have to be met in order to finalize the sale.

DEBT-TO-INCOME RATIO

The percentage of an individual's monthly gross income relative to the amount of debt owed.

EARNEST MONEY DEPOSIT (EMD)

A good faith deposit the buyer makes with an offer to show that they are serious about buying the property. In exchange, the seller agrees to stop marketing the property.

INSPECTION

An expert conducts a formal review of the property to find visible issues that need to be repaired.

LIEN SEARCH

A background check on the property and the seller to ensure there are no outstanding debts or claims upon the property.

PRE-QUALIFIED

Potential buyers provide an overall financial picture and mortgage brokers provide an estimate of what level of loan you will likely be pre-approved for.

TITLE INSURANCE

Insurance to protect the buyer and lender against losses arising from disputes over the ownership of a property.

RECORDING FEES

A fee paid to the local government to officially report a sale of a home; usually paid by the buyer.

"Rick Talmage is a real estate agent licensed by the state of California affiliated with Compass. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01991628. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. If your property is currently listed for sale this is not a solicitation. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage."