The following 7 steps are examples of a typical home procedure:
1. Pre qualify with your professional Realtor to know what price you can afford.
2. Decide what location, features, and priorities are important to you.
3. View several homes in your price range to determine your choice.
In purchasing your new home, the initial step will be to instruct your Realtor to make an offer to purchase. This offer must be in writing and accompanied by an earnest money check to show “good faith.” This offer should include:
1. The amount you are willing to pay.
2. Closing and occupancy dates.
3. Any contingencies, including obtaining of mortgage, and building pest inspections.
4. Any personal property specially included or excluded.
When the buyer and seller agree on terms, the buyer immediately applies for financing, taking the necessary credit information to the lender.
PLEASE BE PATIENT! The lender will arrange for a credit report and appraisal of the property and begin processing the loan. This may take 2-6 weeks depending on the type of financing.
Once loan approval is received, the Realtor will see that the abstracting is begun and all necessary contingencies are met.
The lender’s attorney will examine the updated abstract to determine what steps the seller must take to provide clear title.
The closing. Buyer and seller meet with the lender and Realtors involved to perform the closing transaction. Afterwards, the documents are filed at the courthouse. Possession of the house by the purchaser is accomplished according to the terms specified in the offer to purchase. We will help you clearly define your housing wants and needs. And help you find homes that meet your personal and financial expectations — instead of limiting your search to our listings.
We will help you enjoy the process of finding your new home as much as you’ll enjoy living in it!