There are many steps in the home buying process. Check out the infographic below which details how to get from establishing your needs as a buyer to enjoying our annual client appreciation events.
Understanding the Terms
I'm sure you have heard terms thrown out there when talking about buying a home. Some of them you may know, others you may not. Things like "due diligence," "earnest money," and "home inspection" are just a few that first time home buyers need to know and understand before beginning the home buying process. Here in our First Time Home Buyers section, we'll help you gain a better understanding of those terms and all that they entail. If you see a term you're unsure about, let us know! We're happy to explain anything in this section in more detail.
| Term | Definition |
| Due Diligence | Taking care before signing a contract to research, analyze, and gather information about a property. |
| Earnest Money | Money you give to the seller (or seller's agent) to show your good faith when making an offer to purchase. Find out more by reading the Earnest Money Q&A. |
| Escrow | A bond, deed, or other document kept in the custody of a third party, taking effect when a specified condition has been fulfilled. |
| HOA | An HOA is the abbreviation for Home Owners Association. See More Info About HOAs |
| HOA Dues | Fees paid to your Home Owners Association to cover the cost of yard maintenance, disaster insurance, and neighborhood-wide amenities. |
| Home Inspection | A limited observation of a home made prior to purchasing that includes any areas needing improvement or attention before closing. Discover the importance of home inspections with the Home Inspection Q&A. |
| Homeowners Insurance | Type of property insurance covering a private residence. |
| Mortgage | A legal document promising a property to the lender as collateral for payment of a debt. |
| Realtor | A member of the National Association of REALTORS® who acts as an agent for the sale and purchase of buildings and land; a real estate agent. |
More Info About HOAs:
Click on the video below to learn about buying a home in a community without restrictive covenants.
Some neighborhoods have a self-managed HOA. Click on the video below to learn what that is and how it may impact you.