The Buying Process
I will help you define your search parameters and target the ideal properties for you to consider. Some things you should consider in creating your list are: price, location and future needs.
Before you begin your home search and if you need to finance your purchase, it is very important to contact a mortgage lender to find out how much you can afford. A lender can be a mortgage company, a bank, private financing, as well as other options. Whichever you choose, the lender plays an extremely significant role in the transaction. You will be asked to complete an application, provide documentation and verify your income. You may also be asked to give permission for your credit score to be checked, and your assets to be verified. There are numerous steps to take to secure financing, and your cooperation with the lender is a key ingredient to experiencing an on-time, relatively stress-free closing. Your lender will provide you with a pre-approval letter that must be submitted with all offers to purchase.
Buying a Home Steps
- Get pre-qualified or pre-approved by a Lender if a new loan is needed.
- Evaluate your needs.
- Select a Realtor®.
- Tour various homes with your Realtor®.
- Select a home and submit an offer.
- Open Escrow and schedule inspections.
- Based on inspection reports, Buyer and Seller negotiate repairs through their Realtor®
- Buyer and Seller agree on repairs if any.
- Lender orders appraisal.
- Buyer receives final loan approval.
- Closing documents are compiled by title (escrow) agency.
- Buyer and Seller sign required documents.
- Buyer deposits required funds.
- Lender funds loan.
- Documents are recorded and escrow is closed.
- Buyer receives Keys from his Realtor®.