The Buying Process

Determine Your Buying Power

• Determine how much you can comfortably afford, taking into account your income, expenses, existing debts.
• Obtain and review your credit report to ensure it's in good shape. Higher credit score can help you security better mortgage rate. However there are programs for credit challenged buyers.

Find a Lender and Get a Mortgage Pre-approval

• Research and choose a reputable and efficient mortgage professional. Making the right choice is pertinent as your lenders professionalism and efficiency can determine if you make it to closing the table in time, or at all. We have a list of choice lenders to assist you in this process.

Once you decide on a lender, they require you to submit your bank statements, proof of income and employment, as well as other financial documents in order to free a free view. They will also run your credit reports which are when your creditworthiness. Don't worry this is all a normal part of the process.

Narrow Down Your Search Criteria. We can assist you in narrowing down some key factors in your home search.

• Location: determine the areas or neighborhoods you're interested in and the property type.
• Think about your lifestyle, distance to work, amenities, friends and schools.
• Decide what type of property is suitable for you. Single family home, condo, townhouse, etcetera. Each has different pros and cons so we worked together through your list until the benefits are apparent.

Features and Amenities

• Make a list of your needs versus your wants heavily weighing your needs list first.

Property Search

• attend open houses, view online these things, and explore neighborhoods to find potential homes.

Making an Offer

• Negotiation: work with us to make an offer to the seller. We will help you determine the true market value of the home by running a comparative market analysis and broker price opinion report. These reports should give you a level of comfort about your offer. You can't expect a few rounds negotiations on price, contingencies, and other terms.

Offer Acceptance: Once both parties agree on terms &, the offer becomes legally binding contract and the timeline for contractual dates and terms begin.

Due Diligence Period

• During the attorney approval you have the right to terminate an agreement without reason. However after due diligence. Has expired, your earnest money may be at risk if you opt terminate the contract at that point.
• Inspections occur during the preliminary contract. We can assist you in finding a license, insured and reputable inspector. It is normal for inspection report to come back with deficiencies. No home is perfect so review the report carefully but without anxiety. Ask questions of your inspector and agent if you don't fully understand.

Secure Financing

• Getting pre approved was only half of the financing process. Next you have to secure your financing.
• Finalizing your mortgage commitment will often require you to provide additional documentation requested by your lender.
• When you have formally applied for your mortgage the lender will order an appraisal determine the true value of the property. If the home appraises for less than the agreed upon price negotiations may reopen.
• The underwriting process is the time in which the lender reviews your financial information, the properties appraisal, and other details before approving your loan.

Closing

• The attorneys for the buyer seller and bank will coordinate the closing date. The attorneys will perform a title search to ensure clear title and purchase title insurance on your behalf and on behalf of the lender. These are costs that will show up on your settlement statement.
• Understand prepare for closing costs, which may include origination fees, points, appraisal fee, taxes, attorney costs and more.
• Prior to settlement day, you will likely wire funds to the attorney or bring a bank check to the closing table. If wiring monies, be sure to reconfirm directly and verbally with the attorney what their correct wiring instructions are. The attorney will provide you with the exact amount needed in order to successfully close the transaction.

On closing day you will show up on time to the closing table, bring your ID and your checkbook in case there are any miscalculations or overages. You will sign several documents and then the property ownership is transferred to you. Collect your keys and congratulations.