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Learn About the Home Buying Process

These are some of the people you may meet during your home purchase. Watch the video to find out how they fit into the big picture.

  • Real Estate Agent
  • Escrow and Title Officer
  • Mortgage Banker or Loan Broker
  • General Home  and Termite Inspector
  • Specialists like Plumbers and Electricians

Here's some jargon you will hear.  Sometimes these words and phrases have a different meaning when used in Real Estate than in "Real Life".

Residential Purchase Agreement (RPA) that's how you make an offer. Your Realtor will fill it out for you.


Earnest Money Deposit also referred to as "EMD".


Contingencies are the conditions that your offer is based on but your lender will use the term conditions differently.


A Home Warranty which is often paid for by the Seller is different than your Home Owner's Insurance.


Unless you are buying a Condo or Townhome in which case there may be a Master Policy on the Building.


But you may still be required to buy HO6 Insurance.

Title Insurance insures that after the close of Escrow there will not be any liens on your new home from previous owners.


Appraisal is the value placed on the property you are buying by an independent 3rd party. The appraisal is different than the General Home Inspection.


Some Cities have Building Reports stating the size of the property and what Permits have been pulled over the years.


Retrofits are required in some Cities for low flow toilets and Seismic Shut Off.


Smoke and CO2 Detectors are required by law as is water heater strapping unless your water heater is tankless.

You Found Your Dream Home

Now What Happens?

If all goes well at your General Home Inspection you won't need further investigations for 

  • Sewer Line
  • Mold Inspection
  • Roof Evaluation
  • Soil
  • Foundation
  • Electrical

But even if you are advised to get follow up inspections, that is common and nothing to worry about. At least not yet.


Your Agent my submit a "Request for Repair". The Seller can agree to your request, lower the price or just say no.

You have found the home you want to buy and you are ready to make an offer.


Your Agent will prepare  the RPA, the Residential Purchase Agreement. This is a standard offer form prepared by the California Association of Realtors and used in over 90% of the transactions to purchase residential Real Estate in CA.


Your Agent will ask you for a "pre-approval" letter from a lender showing that you can get the loan and "POF" meaning your Proof of Funds to close. In other words, show the seller the money.


Your offer may be accepted, countered or rejected. If your initial offer or counter offer is accepted Escrow will be opened and inspections will be scheduled.


While you are busy doing inspections the lender is ordering an Appraisal and most likely asking you for additional information even though you were "pre-approved".


You will also receive a package of documents from Escrow containing items such as a Preliminary Title Report, Escrow Instructions and some totally confusing paperwork such as the "PCOR" The Preliminary Change of Ownership Report.


And then everyone will start asking how you want to hold Title.


It can become overwhelming  but a good real Estate Agent can help you along the way.

Your home is the biggest purchase of your life...

Don't you owe it to yourself to be represented by an Experienced Real Estate Agent who Can Guide and Advise You?

Ellis Posner reviews

Hi, I'm Ellis Posner and I have worked with dozens of buyers in Redondo Beach, Hermosa Beach, Manhattan Beach  Torrance CA and just about everywhere else in LA County.


When I am your agent, you will understand the entire buying process from making an offer up until you get the keys to your new home because I will be with you at every step along the way from offer to close. I'm available 7 days a week via text, email, or phone and you always deal with me directly, not an assistant or buyer's agent.


I can also make recommendations to the best inspectors, contractors, lenders and virtually everyone else you will need to work with in the process.  And chances are that any problems that come up, I've seen them before and have a solution. Experience counts.


In California, the Seller pays ALL the commissions for the Buyer's Agent so you get the benefit of my years of experience at no cost. Best of all, My Buyer Clients get a FREE Home Inspection and additional savings on Closing Costs .  


Use the contact form to sign up.


With over 80 Five Star Reviews, there's a reason Zillow and Trulia recognize me as a top producing local Realtor. 


socalistings@yahoo.com  310 975 5139

The most reviewed Local Realtor on Zillow and Trulia

Sign Up  and Receive A Free Home Inspection when I am Your Real Estate Agent

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