Have you thought about buying a home, but do not know what the process entails?
Here is a list of what to expect as a buyer and remember, the FIRST step is to call me!
Finding a home phase:
Shop for a home
Make an offer
Negotiate the contract
Offer gets accepted
After an offer is accepted, it usually takes 45 days to close on the home. The contract is sent to the loan officer and title company who will prepare the mortgage and deed. The offer is contingent on inspection(s) and financing. This phase is usually 7-25 days
Write a check for earnest money and deliver to the appropriate person/location
Make loan application with your loan officer
Pay for the appraisal (loan officer will order this after payment is collected)
Attend the inspection(s)
Remove the inspection contingencies, ask for repairs and/or negotiate purchase price/closing cost
Receive a copy of the appraisal
Shop for insurance
Once loan application and inspections are complete, you wait. This is where the loan officer and title company are performing the “behind the scenes” work. After about 25-30 days, you will have loan approval and the offer is now pending. This stage is remaining 30-45 days.
Provide remaining documents to loan officer, if needed.
Receive clear to close
Review the closing disclosure (the lender will provide this)
Schedule closing date (the title company usually contacts you for this)
Schedule the final walk through
Call the utility companies to change utilities in your name as of the close date (date you sign)
Once you and the sellers sign documents with the title company, they can file the title transfer with the county. Once it is recorded with the county, the keys are yours!
Contact me today at 330-697-8746
Author:Lauren Luli Phone: 330-417-7853 Dated: April 10th 2017 Views: 438 About Lauren: ...
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