The Home Buying Process

The Home Buying Process

1- Pre-Approval with a lender

     -What price range suits your budget?

     -Listing agents are demanding pre-approval with some showings and ALL offers!

     -Don’t fall in love with a property and have to wait to submit an offer because you didn’t get approved upfront

2- Buyers Representation Agreement

     -An agency relationship ensures that your buyer’s agent is advocating on your behalf, negotiating the best price for you, and keeping your best interests in mind!

3- Begin the home search

4- Submitting an offer

     -A market analysis will help us determine a competitive offer price.

5- Offer accepted

     -Earnest money and option fee must be delivered to the title company and the seller within 3 days of contract execution

6- Option Period/Home Inspection

     -The option period allows you to hire a licensed home inspector to make you, the buyer, aware of any defects with the home.

     -After we receive the inspection report we can negotiate with the seller to repair damaged items, or possibly reduce the sales price.

7- Title Commitment

     -The contracted title company will look at deed history and title commitment to ensure that the property is free and clear of any liens, judgments, or title disputes

     -A title insurance policy (typically paid by the seller) will be issued to ensure that if any future title issues arise, title insurance will cover those issues.

8- Appraisal

     -A licensed appraiser will value the home to ensure the home is worth the amount the lender is willing to loan on the home

     -Appraisers find 3 active listings and 3 listings that have sold within the past 6 months to determine the market value of a home. While they may look at active listings, a homes’ value is determined by SOLD listings.

9- Pre-Closing

     -The lender and title company calculate the exact amount due at closing from the buyer and will provide a HUD-1 Settlement Statement for buyer and buyers agent to review

     -Final walk-thru to ensure that any and all repairs have been appropriately handled and the home is move-in ready.

10- Closing

     -A title company will coordinate with buyer and seller to schedule times to come in and sign off on all closing documents.

     -Buyer needs to bring exact amount due at closing in the form of a cashiers check made out to the title company


Congratulations! You are now a homeowner! You will receive the keys to the property as soon as the lender wires the money and the transaction is funded!


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