Preparing to Buy
Here are a few tips to get you started in your search for a new dream home:
- The loan process begins with an initial consultation with a lender.
- The first step is getting Pre-Qualified. Your lender will review your financial information and determine how much you are qualified to borrow. As a pre-qualified buyer, your offer on a home is stronger.
- When you’re pre-qualified for you can begin your home search.
- Once your offer has been accepted on a property, you will meet with the lender who will ask you to provide more detailed information regarding your finances.
- You will need to choose a company to handle the settlement / closing on the house.
- The lender will then order the Appraisal and the title work from the closing company and begin the loan process which could take 30-45 days.
- Once your loan is approved and the lender gives it the “clear to close” you are ready for settlement.
Offer & Inspections
- When you have found your dream home, Barbara Watkins will prepare a written offer with the terms of the purchase.
- The offer will be submitted to the selling agent and the seller for negotiation or acceptance.
- Once the offer is accepted, you will have to schedule the various inspections which would include but not limited to: Home, Well, Septic, Termite, Mold, Chimney, Pool, Pier and any other inspections you choose.
- At satisfaction of inspections the loan process will be completed and settlement will occur within the time frame of the contract.
- If any repairs are done as a result of the inspections you have the right to re-inspect the property prior to settlement.
- Final walk-through on the property shall be within 5 days prior to settlement.
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