Macdonald Group
The Buyer's Guide
Jack Macdonald · REALTOR® · (425) 941-6998
macdonaldgrouprealestate.com
Macdonald Group
The Buyer's Guide
A clear, step-by-step companion to buying a home on the Eastside — from first search to closing day.
The Home Buying Process
01
Get Pre-Approved
Meet with a lender to understand your budget and get a pre-approval letter. This tells you what you can comfortably spend and shows sellers you're a serious buyer.
02
Define Your Priorities
List the must-haves versus the nice-to-haves — location, schools, commute, size, and style — so we can search efficiently.
03
Search With a Strategy
I'll set you up with a tailored search and flag new listings early, including ones that fit your criteria before they're widely seen.
04
Tour Homes
We'll visit properties together. I'll point out things worth noting — condition, layout, resale potential — that aren't always obvious on a first walk-through.
05
Make an Offer
Once you find the right home, we'll build a competitive offer strategy based on current market conditions and comparable sales.
06
Inspection & Due Diligence
A home inspection and any needed specialty reviews happen during this window, giving you a chance to negotiate or, if needed, walk away.
07
Final Loan Approval
Your lender finalizes underwriting. This is a good time to avoid new credit activity or large purchases.
08
Closing Day
Sign your final paperwork, transfer funds, and get your keys. Congratulations — the home is yours.
Financing Basics
Most buyers finance their purchase with a mortgage. Here's a quick primer on the terms you'll hear most often from your lender.
- Pre-Approval
- A lender's written estimate of how much you can borrow, based on a review of your income, credit, and assets.
- Down Payment
- The portion of the purchase price you pay upfront, typically 3–20% depending on the loan program.
- Earnest Money
- A deposit made with your offer to show good faith, credited toward your purchase at closing.
- Appraisal
- An independent estimate of a home's value, required by lenders to confirm the loan amount is supported by the property.
- Closing Costs
- Fees beyond the purchase price — loan origination, title, escrow, and recording — typically 2–5% of the loan amount.
- Contingency
- A condition in your offer (inspection, financing, appraisal) that must be satisfied for the contract to remain binding.
- Escrow
- A neutral third party that holds funds and documents until all conditions of the sale are met.
- Title Insurance
- A policy protecting you and your lender against defects in the property's ownership history.
Buyer's Checklist
Keep this list handy as you prepare to search and make an offer.
- Get pre-approved and know your comfortable price range
- Save for your down payment and closing costs
- List your must-haves and deal-breakers
- Research neighborhoods, schools, and commute times
- Set up an alert for new listings that match your criteria
- Line up a trusted inspector before you're under contract
- Avoid large purchases or new credit while in escrow
- Review your closing disclosure carefully before signing
- Do a final walk-through before closing day
- Set up utilities and change your address ahead of move-in
Ready to start your search?
I'm happy to answer questions and help you take the next step, whenever you're ready.
Jack Macdonald · (425) 941-6998 · Macdonald Group of Compass