Buyer Resources

The Home Buying Process

While this flowchart depicts a typical process, the fast-paced and competitive San Francisco real estate market results in variations of this flowchart. Paragon Agents are able to quickly respond to market shifts.

What is Title Insurance?

Title insurance is a contract of indemnity which guarantees that the title to the property is as reported. If it’s not as reported, you are reimbursed for actual loss or damage under the conditions specified in the policy. The title policy covers you for your loss up to the amount of the policy.

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What is Escrow?

The sale of real property involves transferring large sums of money and signing important documents by you, the Seller and your lender. Escrow is the process in which an impartial third party acts as a stakeholder and facilitator for both you and the Seller. Typically this entity is the Title Company. It carries out both parties’ instructions and handles the paperwork, distribution of funds, title insurance, and the transfer and recordation of the title deed.

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What Do Buyers Generally Pay?

Who pays for the various closing costs is negotiable between the Buyer and Seller. The below, however, sets forth the customary division in San Francisco County. (These items might not apply in other counties as some counties split their title and escrow fees between Buyer and Seller in varying manners.)
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Searching For Your Home

Once you have an idea of what it is you are looking for in a home, it’s time to start viewing available properties. So where to start? Here are a few options to get you started:
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Understanding Property Taxes

The Tax Year
Property taxes are charged on a fiscal year beginning July 1st and ending June 30th; hence tax years are referred to as 2004/2005, 2005/2006. Taxes are billed in two equal installments: first installment covers July 1st through December 31st, second installment covers January 1st through June 30th.
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Financing – The Loan Process

The idea of financing a home can sometimes be a daunting one. When broken down, however, the process really can be less intimidating than one may think.
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Buyers Are Responsible for Inspecting the Property

The Purchase Agreement typically contains provisions allowing you to perform any inspections you desire. Inspections do not guarantee the condition of the home; instead their purpose is to educate you regarding the home’s current condition and how to maintain it in the future.

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