The
Buying Process – Helping you understand the steps ahead…from Offer to Closing.
As
your dedicated realtor, I will assist you in securing a mortgage
pre-approval and finding your dream home.
Then we will generally proceed in the following manner:
- Present
offer with $500 check.
- Agent
presents offer to owner.
- Offer
is accepted, rejected or countered.
- If
necessary, offer is negotiated between the two parties.
- Agreement
on price and terms reached by both buyer and seller.
- Agent
prepares the Purchase and Sales Agreement (P&S)
- Home
Inspection is scheduled
- Buyer
applies
for mortgage, with agent assistance if needed.
- Upon
signing the Purchase & Sale Agreement, buyer gives agent the
remaining balance of the deposit (normally 5% of the purchase
price).
- Deposit
is held in escrow account until closing.
- Agent
has the seller sign the Purchase and Sale Agreement.
- Agent
delivers necessary paperwork to bank and buyer’s attorney.
- Buyer
receives mortgage commitment from bank.
- Your
attorney, agent and bank set a date for closing that is convenient
and agreeable to both buyer and seller.
- At
the time of closing, buyer must present:
- The
balance of the down payment in the form of a certified check
made out to the buyer.
- A
prepaid Insurance
Policy for at least the mortgage amount.
- A
bank check to cover the closing costs (exact amounts will relayed
to buyer by bank representative at least 24 hours prior to closing).
- Yourself
– equipped with photo ids
Congratulations! You’re a new homeowner!
Of
course, I will be here for you if you should have any questions?
along the way. My job is
to make this process as easy and enjoyable for you as I can.
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