Home Buying Process

You have started to look at different properties and now you are ready to get moving on a plan. That is where you need to start and there are several other steps you should know about completing you decision to own your home.

Meet with your Residential Properties Agent

Speak about your goals and create your action plan.

Choose your Lender

Meet with your loan officer and acquire a pre-approval letter. Gather information about potential forms of financing. Review their list of closing attorneys.

Begin Looking at Homes

Your agent will provide you with information on the market, and lists of homes for sale, and various media to use while searching for your new home.

Making the Offer

Once you find a home that works for you, your agent will prepare an offer and negotiate for you. When the offer is accepted, you will be presented with a Purchase and Sales contract for your review and signature. Upon signing the contract, you will need to provide a deposit, customarily 5% of the purchase price.

More to Do While Sale is Pending

During this time period you will need to initiate a loan application. An appraisal will be part of the loan process. In addition you will conduct your home inspections, which may include radon, termite and wood-boring insect, as well as physical and mechanical. You will want to research and then acquire homeowners insurance. During this phase you will choose a closing attorney.

The Closing

You will want to walk through the home just prior to the closing to ascertain the condition of the home. Utilities will be turned on and billing put into your name. You will bring the balance of your down payment and your homeowners insurance binder with you to the closing attorney’s office. The closing attorney will prepare the closing documents. Once the closing ends and the deed is recorded, the house is yours!


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