Steps to the Buying Process
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First Time Home Buyers generally have all the same questions so here is the buying process in a nut shell:

1. Go to the Bank or Mortgage Provider. (You need to know what you can afford before you ever start looking)

2. Search websites and drive by to find homes that interest you. (NEVER look at more than 3 or 4 in any given day as you will start to get the properties mixed up)

3. Make an offer. (At that time your agent will go over the whole contract and process. Be prepared to put down money for earnest)

4. Negotiate the Contract (Agent will handle all the calls and text back and forth to reach agreed terms)

5. Within 3 business days you need to get the "Lender/Mortgagor" all the documents they need.

6. Home Inspection (Your agent will provide you with a list of home inspectors in your area IT IS YOUR CHOICE as to who you use)

7. Appraisal (Ordered by lender)

8. Negotiate repairs (If Any)

9. Termite Inspection (You decide on Inspector and contact. Agent will assist and let you know when it is time to order)

10. When all conditions are met and underwriter approves loan you are ready to go to closing! (Agents will get with all parties and schedule a time based on EVERYONE involved)

11. At Closing the "Closing Agent will walk you through ALL DOCUMENTS, loan papers, deed, title, HUD1. (You will sign your name and initial A LOT!!)

12. You get the keys!! (WELCOME HOME)

This is a quick breakdown of the process. There is more to it but your agent will walk you through it and you generally will not see what is going on behind the scenes. It is important to remember that EVERY transaction is different and sometimes unseen things come up that "throw a wrench" into to process. These "Obstacles" with the help of your agent can be overcame. Do not give up and stay in constant communication with your agent and lender.

G.

 

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