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Buyer's Guide
Get pre-approved and meet with your realtor.
Meet with a loan officer; by sharing income and other financial
information, you will know the price range for which you are
qualified.
Begin viewing homes with your realtor
When possible, all decision-makers should visit the various
homes.
Always be candid with your realtor-- it will help them understand
your particular needs and desires and enable them to select
homes you'll want to see
Prepare the offer
Your REALTOR will provide you with a comparative market analysis
on the property or properties of your choice in order to assist
you in making an informed decision.
Your Realtor will go through the contract with you and complete
your offer.
Negotiations will proceed until both buyer and seller agree
on all terms and sign.
All documents will be sent to the title company where a file
will be opened, and title commitment and property tax information
ordered.
Make your loan application
Give your loan officer a copy of the contract and apply for
the loan.
Inspect the property
Select an inspector and arrange for both a general inspection
and wood-destroying insect inspection
Your Realtor also can provide information about other environmental
assessments
Appraisal and survey of property
The lender and title company will make arrangements for the
property appraisal and survey.
Buyer will be provided a copy of the Title Commitment Letter.
Buyer will make arrangements for homeowner's (hazard) insurance,
and arrange for the insurance agent to talk with the closing
officer at the title company.
Seller's closing is also arranged
Buyer receives a copy of the closing statement for review prior
to closing.
Buyer does a final walk-through inspection of the property.
The Realtor arranges a closing date and time with the buyer
and title company. Seller's closing is also arranged
Buyer brings a cashiers check for all closing costs and the
balance of the down payment
After the closing
Documents are sent to the buyer's loan company for approval
and funds are disbursed
The title company receives and funds all money from the loan
company. Payment of any accrued expenses in connection with
the closing are due including taxes, attorney's fees, professional
real estate fees and title company fees.
Legal documents will be recorded in the office of the county
clerk and mailed to the buyer.
Title company prepares and issues the title policy, and sends
it to the loan company and new home owner.
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