1. Mortgage Pre-Approval
SHOP WITH CONFIDENCE
Your mortgage pre-approval will determine the types of financing you’re eligible for, and how much you can afford to spend on your new home.
WHAT YOU’LL NEED:
- 2 Recent Paystubs
- 2 Years of Tax Returns
- 2 Months of Recent Bank Statements
- Statements for any additional asset
- Accounts (401K, Retirement, Savings, etc.)
2. Searching For Your Home
EXPERT GUIDANCE
Starting your home search can be a daunting task. We’ll work together to determine which neighborhoods and properties match both your criteria and your budget.
A FEW HELPFUL TIPS:
- Bring your camera during showings to help remember the features of each property.
- Wear comfortable clothes and shoes when viewing multiple homes in a day.
- Tell us your feedback on each property so that we can find the perfect fit.
3. Submitting an Offer
THE OFFER PROCESS
You’ve found the perfect property, and you’re ready to submit an offer. Your agent will help guide you through the process of submitting and negotiating a formal offer.
YOUR AGENT WILL HELP:
- Determine the property’s market value to inform your offer price and deposit amount.
- Craft a formal written offer that covers import terms and conditions of the sale.
- Review your out-of-pocket expenses like inspections, legal fees, and closing costs.
4. Purchase & Sales Agreement
FOCUS ON THE DETAILS
Now that you’ve negotiated your offer and terms of the sale, it’s time to sign a formal Purchase and Sales Agreement.
AGREEMENT COMPONENTS:
- Agreed upon purchase price and deposit
- Contingencies to be met prior to the sale
- Home inspection timelines
- Itemized closing costs and closing date
- All additional terms, details, and conditions of the sale
5. Formal Loan Application
SECURING YOUR MORTGAGE
Now that your offer has been accepted, you’ll need to submit a formal mortgage application within 5 days. It’s also important to ensure that you receive your mortgage commitment by the contingency date outlined in the purchase and sales agreement.
THINGS YOU’LL NEED:
- 2 Recent Paystubs
- 2 Years of Tax Returns
- 2 Months of Recent Bank Statements
- Statements for any additional asset
- Accounts (401K, Retirement, Savings, etc.)
6. Home Inspections
THE PROCESS
Home Inspections are the responsibility of the buyer and an important part of the home buying process. Any necessary inspection requests need to be agreed upon within 10 business days from the signing of the purchase and sales agreement
COMMON HOME INSPECTIONS:
- Structural & Mechanical Components
- Well and Septic Inspections
- Insect, Pest, and Mold Inspections
- Lead and Radon Inspection
- Water Quality Test
7. Bank Appraisal
DETERMINING HOME VALUE
Before approving your mortgage, your lender will request a home appraisal in order to ensure that your purchase price is inline with the home’s appraised value.
APPRAISAL CONSIDERATIONS:
- Comparable home sales
- Home’s overall condition
- Size and features of the home
- Major improvements and amenities
- Neighborhood and location of the home
8. Home Owners Insurance
PROTECTING YOUR INVESTMENT
Your mortgage will be contingent on obtaining a basic home owner’s insurance policy that protects your home. Additional insurance may also be beneficial depending on your market.
A TYPICAL POLICY COVERS:
- Dwelling coverage that protects the structural components of the home
- Contents coverage that protects the contents of the home
- Personal liability coverage which covers any accidents that occur on the property
9. Home Closing
CLOSING DAY HAS ARRIVED!
THINGS TO BRING:
- Driver’s License and Identification
- Checkbook
- Cashier’s check in the amount determined by your real estate attorney
CLOSING DAY CHECKLIST:
- Final Walk Through
- Contract signings
- Title check and transfer
- Utilities switch
- Mail Forwarding & Address Changes
10. Post-Sale Support
Our support doesn’t end at the closing. We’re here to help as you embark on the exciting journey of home ownership!
REFERRAL NETWORK
- Our comprehensive referral network gives you access to qualified home maintenance and repair professionals in your area.
FUTURE GUIDANCE
- We’re on call and ready to help the next time you need a qualified real estate professional. Let us know how we can help!
CLIENT APPRECIATION PROGRAM
- After closing, you are fully enrolled in our Client Appreciation Program. We want to be your family’s realtor for life. You will receive ongoing tips and advice from us as you embark on the journey of home ownership.
DOWNLOAD THESE STEPS AS A PDF
