~~Meet with you lender and talk about your interest rate locks and review your Good Faith Estimate and Truth-In- Lending disclosures.
~~Find out what additional documents they need and ask questions! Never leave a question unanswered.
~~Familiarize yourself here on the contracts and disclosures you will be signing when you buy a property.
*Definitions of Working Relationship-A descriptive document that covers the 3 relationships a person can have with a real estate professional when buying or selling real estate.
*Sellers Property Disclosure --This is a document to disclose the condition of the property as known by the seller.
*Lead-Base Paint Disclosure
*Source of Water Addendum
*Lenders HUD and Buyers Closing Statement
*Learn about Home Warranties and what they really cover
~Compare and secure homeowners insurance. Since homeowners insurance is a long term expense, getting the best deal brings savings through the years. Just make sure you have the best coverage for the cost. Compare companies cost and with different deductibles.
~~Review your Title Commitment -- When a house, building or other real property is bought and sold, all the parties involved want to be sure the “title” or transfer of ownership is clear. Title insurance protects the owner and the lender against loss arising from problems connected to the title to the property.
~~Arrange closing times with your Realtor, Lender and Title Company.
~~Secure final loan approval and commitment from the lending institution. If you have done your "up-front" work, this should be one of your easiest steps.
~~Make sure and do your final walk through just prior to your closing..
~~Final property closing and financial settlement.
~~Welcome Home! Time to move into your new home.
CONGRATULATIONS YOU'RE NOW A HOMEOWNER!!
Home Buyer Check List
Become an Informed Buyer!
~~Get educated on the home buying process, through the internet and trusted family and friends.
~~Find a Lender that you feel comfortable with and trust.
~~Take a realistic look at your budget. ONLY buy within your comfort zone. NEVER buy above what you can realistically afford!
~~Determine your housing "needs" and "wants". Make a list of what your "NEEDS" are and then add what your "WANTS" are. When looking at homes, look at those that fulfill all your needs and then if one has many of your wants, it will help make your buying decision
~~Research properties online to get a feel for the housing market.
~~Drive around different towns to better choose a community that fits your life style. If, however, you have a driving distance you must stay in don't be looking outside of that mileage area.
~~Now drive around the neighborhoods and decide what areas appeal to you most. Hopefully your dollar range can fit that special neighborhood you have in mind, but if not concentrate on ones that do.
~~Find a Real Estate Agent that you feel comfortable with and trust.
~~Decide on your time frames for purchase and closing. ~~Inform your Realtor on all your home "wants" and "needs"
~~Put your Realtor and Lender in touch. They will both work together to help you.
~~Make sure the properties you look at fit your loan requirements
~~Familiarize yourself on all types of housing. Single family, Townhouse and Condo, Farm or Ranch.
~~Now it's House Hunting Time!! This can be fun and overwhelming at the same time. Just prepare yourself and try not to let this time consume you or stress you out. Relax and enjoy yourself!
~~AGAIN don't look at homes above your price range it only leads to confusions and disappointment.
~~ you have found your home, Prior to making an offer ask your Realtor what recent like homes have sold for in the area. Ask for a sale comparison covering the past few months.
~~Start your offer and negotiations. Be prepared to put down your earnest money at the time of your offer.
~~Once your offer is fully negotiated you will need to make your mortgage loan request.
Become An Informed Buyer!