Buying a home is one of life's most important decisions.
Purchasing a home is one of the best investments one can make, but it's not something to take lightly. Whether buying your first home, or even if you consider yourself fairly real estate savvy, it always helps to have a sharp, thorough professional to assist you in the process. The best part is that you don't have to pay for the services of a Real Estate Professional when buying your home, so why not take advantage of their expertise? If you are a first time buyer, or if it's been a while since you've made a real estate purchase, the outline below should help you understand the process a little better. Don't think you can afford to buy a home, or think your credit isn't good enough to be approved for a home loan? You'd be surprised at how easy it can be with a little help from a seasoned professional. Contact Scott to get started.
Step 1- Initial Consultation
· Talk with Scott about your needs and priorities
· If you need financing, we will discuss various financing options
Step 2- Secure Financing
· Select a lender(s) & consult with a loan officer(s)
· Complete a home loan application
· Obtain your loan pre-approval letter to submit with any offer(s)
· Stay in contact with your loan officer, submit all necessary documents
Step 3- Find your new home
· Scott will provide you with a list of homes that meet your criteria
· Scott will show you the properties that you select to view
· Evaluate each property with Scott to choose the right home for you
Step 4- Writing the offer
· Scott acquires pertinent sales data on comparable homes in the area
· Review this data together with Scott to determine an offer price/earnest deposit
· Review the offer with Scott and sign the necessary documents
Step 5- Presenting the Offer
· Scott presents your offer to purchase to the listing broker
· Scott will assist you in interpreting and evaluating any counter offer made by the seller
· Scott negotiates on your behalf to protect your interests, and get you the best deal possible
Step 6- Contract is made
· Reach an agreement with seller on price and terms of purchase
· Earnest money transferred to listing broker, who deposits it in their trust account
· This money is later applied to your closing costs/prepaids at closing
Step 7- Carrying out the contract
· Order all necessary inspections (E.M.P., structural, termite, etc.)
· Scott submits an T.R.R. (Treatments, Repairs, & Replacements) request to seller
· Seller obtains estimates to complete the necessary repairs
· Unless repairs exceed the agreed upon amount ("Repair Cap"), seller will complete repairs
· Re-inspections and final walk-through of the home with Scott
· Review title report, HUD 1 settlement statement with Scott prior to closing
· Arrange for insurance on the home, setup transfer of utilities into your name
· Closing- sign documents, bring check for down payment/closing costs if applicable
· Mortgage company will fund the remaining purchase amount
· Title is transferred
· You receive the keys to your new home, and move in!