Looking to Buy?

Philadelphia is one of the most historic and distinguished real estate markets in the country, and we understand that making the decision to buy a home here can be a particularly overwhelming experience.

From mastering the difference between condos, single and multi-family units, to planning for closing costs, there is a lot to learn. That is why we have created this Buyer’s Guide — to set you on the right path to owning your perfect home!

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Your Home Buying Team

It takes a village—literally—to get you to closing. Here’s an overview of the team of people you will be working with during your real estate transaction:

Angela and Rick! We are your primary overall contacts and project managers throughout the entire process.
Transaction Manager
Our team Transaction Manager will be assisting to ensure all dates are met and paperwork is processed and the rest of th e team has everything they need to complete the transaction smoothly Read More ⇣
Mortgage Lender
You will work with the primary mortgage consultant who helps you with your pre-approval, estimate and application. There is also a processor(s) who may ask for various documentation for your loan to obtain underwriting approval Read More ⇣
Title Search
You will have a primary contact at the title company who will be coordinating your title search.
Depending on the amenities of the home, you may need a general home inspector, wood destroying insect inspector, radon/m old testing company, septic specialist, water testing, etc. We will help you determine the appropriate inspectors Read More ⇣
Settlement Officer
Generally an employee of the title company, this team member is the person who will host your closing, obtain all the re quired signatures and who will make sure your loan is funded at closing Read More ⇣

“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”
— Maya Angelou

Financial Obligations

Below is a list of potential financial obligations you will have for your home purchase. This is meant to be a general guideline and we/your lender will provide estimates based on the home you choose.

Good Faith Money Deposit
Good Faith Money Deposit

(Average: 3%–5%)
Typically the amount is determined based on the sales price.

Down Payment
Down Payment

The amount you will need for a down payment is determined by type of loan you qualify for.
• FHA Financing: 3.5%
• Conventional Financing: 5%–20%


(Average $350–$700 depending on home size)
Including home, radon, termite and potentially others.


(Average: $400–$600)
Lenders require an appraisal in order to approve your loan. You will need your payment up front.

Closing Costs
Closing Costs

(Average: 4–5%)
Closing costs are the funds you will need to have in order to settle, unless negotiated otherwise.