The Home Purchase Process Made Easy
By Susan Hawley, RealtorR • Think about your needs----size, yard, HOA or not, location, location, location. • Talk with a Realtor about your needs, ME! I will listen and help define your search criteria and priorities. I will also provide you with sample documents so you may familiarize yourself. • Connect with a Lender. May be online, or local, doesn’t matter with current technology! SHOP for rates!! BE SURE to give your Lender my name, email, phone number. Let me know if you need help! • Obtain a “Pre-Qualification” letter from the Lender. Usually produced same day as your “connect” call/email. This document will be attached to the offer you make. Your Lender will identify your $$ needs, loan program. • Now for FUN..SHOP!!! Find the right home----I will guide you!!! • Be ready with “Earnest Money”. This is what you include in your Purchase Contract to indicate you are “serious” about the offer. You can have any amount as EM but the more you can offer the better. This cash/check will be deposited in your new escrow account and goes towards your own closing costs. • Make an offer. I guide you thru the Offer ensuring you understand it all….and will help everything go smoothly. It’s a big life event to buy a home. No worries, I will assist and counsel you throughout the process. Typical amount of days to close a financed purchase is 45—we count out 45 calendar days, and that is the “*close of escrow” date we will put on your offer. • The Seller may want to “Counter” your offer. Again, no worries, that’s my job to help you negotiate through it!! • We “open Escrow” after an accepted/signed, agreed upon offer. Escrow is the Title Agency you choose to handle the transaction. Your Earnest Money is deposited with the Escrow Officer. Escrow handles all the money exchange and Title/Deed work, known as Close of Escrow. • We now have an Inspection Period which begins upon the final accepted offer. Usually ten days per contract. You make decision to have a Home Inspector produce the document which identifies any concerns with the property…runs about $375. Highly recommended to have this done! Termite Inspection also---around $100. These are costs you incur to discover/document condition, negotiate with the Seller, and to meet any requests from Lender. I WILL HANDLE ALL THIS, AT YOUR DIRECTION. If Seller says yes to negotiate, great! If Seller says no, we keep trying until both sides are happy. Or, we walk away from the deal. • During Inspection Period, you may walk away from contract if you are dissatisfied with a discovery! • WE ARE ON THE HOME STRETCH TO GETTING THE KEYS!!!! CONGRATULATIONS, YOU DID IT!
• *NOTE: Closing is actually “Recordation of Title”. You may sign all the documents, but you won’t receive the house keys until Title legally records that day. Title calls/notifies us both, the moment it records.
ype your paragraph here.