Your Step-by-Step Guide to Buying a Home
Buying a home should be exciting, not overwhelming. We’ve streamlined the process into clear phases, so you know exactly what to expect at every step. From our first conversation to the moment you get your keys, we’re with you—handling details, anticipating challenges, and ensuring you feel confident in every decision.
Phase 1: Getting Started - Building Your Foundation
Strategy Session
We’ll meet with you—in person or by phone—to discuss your goals, lifestyle, and what “home” means to you. Together, we’ll explore ideal communities and neighborhoods that align with your vision.
Agency Agreement
You’ll review and sign an Agency Agreement (now mandated by NAR rules), which allows us to show you homes and advocate for your interests throughout the process.
Choose Your Lender
We’ll guide you in selecting a trusted lender who fits your financial situation and can move quickly when the right home appears.
Provide Documentation
You’ll provide proof of funds and a lender pre-approval letter (required within five days of viewing your first home). This positions you as a serious buyer and strengthens your offers.
Phase 2: The Search - Finding Your Perfect Home
Property Search
We’ll search for properties that match your criteria—price point, location, must-haves—and present options you might not have considered.
Home Tours
We’ll email you curated listings and arrange personalized tours, making the process enjoyable and efficient. No pressure, just possibilities.
Phase 3: Making Your Move - From Offer to Acceptance
Making an Offer
Once you’re ready, we’ll prepare a strategic offer that balances your goals with market realities—covering price, contingency timelines, and closing dates. Everything is submitted via DocuSign for your convenience.
Seller Response & Negotiation
The seller typically responds within a few days. If there are multiple offers, they may issue a Seller Multiple Counter Offer (SMCO). We’ll keep you informed and expertly negotiate on your behalf, advocating for your best interests at every turn.
Opening Escrow
Once we reach mutual agreement in writing, we’ll open escrow and the real work begins.
Earnest Money Deposit (EMD)
After your offer is accepted, we’ll provide secure wiring instructions for your 3% Earnest Money Deposit—part of your down payment that must be received within 72 hours.
Phase 4: Due Diligence - Protecting Your Investment
Lender Coordination
We’ll notify your lender of the acceptance and provide the fully executed contract so they can order the appraisal.
Escrow Instructions
You’ll review and sign escrow instructions that outline the terms of the transaction.
Schedule Inspections
We’ll coordinate all desired inspections—physical, termite, roof, sewer—within the typical 7-10 day deadline, ensuring you have a complete picture of the property’s condition.
Inspection Presence & Review
We’ll be present for every inspection, providing you with a verbal summary of findings followed by detailed reports. We’ll flag any concerns and advise on how to proceed—whether that’s requesting repairs, credits, or walking away if something major surfaces.
Seller Disclosures & Reports
We’ll help you review seller disclosures, preliminary title reports, city reports, and other critical documents, ensuring there are no surprises.
Homeowners’ Insurance
We’ll guide you in securing homeowners’ insurance to protect your investment from day one.
Release of Contingencies
After addressing inspection findings and reviewing all disclosures, you’ll release final contingencies. This is a significant milestone—once contingencies are removed, your Earnest Money Deposit becomes non-refundable if you choose not to proceed.
Home Warranty
We’ll ensure escrow orders a seller-paid home warranty for added peace of mind.
Phase 5: Closing - Making It Official
Final Walk-Through
Just before closing, we’ll accompany you on a final walk-through to confirm the property is in “relatively the same condition” as when you first saw it.
Final Payment
You’ll wire the remaining balance of your down payment and closing costs to escrow. We’ll guide you through the process to ensure everything goes smoothly.
Sign Escrow Documents
You’ll sign all necessary closing documents, with us ensuring every detail is correct.
Loan Funding & Recording
We’ll coordinate with escrow and title to facilitate loan approval, funding, and recording with the city.
Receive Your Keys
The moment you’ve been waiting for—you’ll receive the keys to your new home!
Welcome Home
Congratulations! With Larsen Properties LA by your side, you’re now a proud homeowner. This is just the beginning of your new chapter, and we’re honored to have been part of your journey.
Have questions about the buying process? We’re here to walk you through every detail and help you feel confident from start to finish.
