|A BREAKDOWN FOR THE BUYER
We meet and discuss…
When do you want to be in your new home?
What are your Basic Needs in a new home? (Ex: minimum bedrooms and bathrooms)
What are your Wants in a new home? (Ex: swimming pool, detached garage)
Where do you want to live? (Hamlet, Village, Town, County, School District)
Do you need to sell the home you are in now to purchase the new home?
Do you have a home purchase Team?
YOUR TEAM MEMBERS
Real Estate Agent
Your Representation throughout the entire preview and buying process.
Be prepared to move forward Quick, Especially in today’s market.
Get a Pre- Qualification - Better Yet! Get a Pre – Approval from Mortgage Professional or
Now we can go shopping and sellers will know you’re a serious buyer.
You are prepared to make decisions with confidence.
When an Offer to Purchase is presented to the Seller (Binder document)
And the Seller accepts it is now time to schedule a home inspection.
Inspection should be completed within 5 days.
The Inspector will go over the Whole house. Top to Bottom. Side to Side. Inside and Out.
The Inspector will furnish you with a complete report for your review.
If all is good with the Inspection Report, we move on to the next steps.
Real Estate Attorney
Choose an attorney that primarily practices is Real Estate law.
Review and Sign your Real Estate Contract.
You are now… “In Contract”
It is time to re-contact your Financing Team member and bring them up to date.
Submit any requested documents for Processing the Mortgage.
They will order the Appraisal for the property generally within 48 hours of Contract signing.
Appraisal inspection and report is completed within 5 days.
Your Finance Team Member completes all verifications and will give you status updates
pending loan approval. Once approved a Commitment Letter is produced.
Your Real Estate Attorney will be updated at this point and will order a Title Report.
Your Real Estate Attorney will communicate with your Lenders Attorney and announce
“Clear to Close” and set up a Closing date!
It is now time for your next Team member.
You will be required to secure a Home Owners insurance policy.
You may be required to secure a Flood insurance policy as well depending on property
Do you need a moving company?
Reserve one soon as you know your dates.
Depending on the time of year they may be busy.
Contact your utility companies to set up your new accounts.
(EX: Electric, Gas, Oil, Water and Phone, Internet, Tv Companies)
I will set up a final walk through of the property.
Prior to closing date, usually same day or day before.
We will tour the property to Agree and Approve the present conditions.
All parties sign closing documents with the settlement agent.
Monies are exchanged.
You get the KEYS.