The Home Buying Process

Dated: January 15 2016

Views: 1824

The Home Buying Process - www.askbarb.realtor

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Welcome! You are about to embark on the exciting journey of finding your ideal home.  Whether it is your first home or your tenth home, a retirement home, or an investment property,  home-buying can be fun and exciting.  A great Real Estate Professional will help you find the ideal home with the least amount of hassle; also a great Real Estate Profession is  devoted to using their expertise and the full resources of their office to achieve these results!



The Home Buying Process       www.askbarb.Realtor


  •  Find a Realtor You Can Trust  - A committed Real Estate  Professional will get you the best price in the least amount of time.                                                                                        

  •   Analyze Your Needs in Consultation - This consultation with your agent will help in the home buying process 

  •   Obtain Financial Pre Qualification and Pre Approval - Remember not all lender are the same.  

  •   Select Properties -  When selecting property remember neighborhood, school, work, est....  Write out 5 must haves.

  •   View Properties - When viewing property remember it is not quantity it is the quality.  Bring your 5 must haves

  •    Write an offer to Purchase Your agent will write a review your offer with the sellers agent.  there are 3 documents need:   

                              1.  Earnest deposit*  1% to 3 % of the purchase price

                              2. Written offer   Offer that has been write in sign buy the buyer

                             3. Pre Qualification and Pre Approval  Letter from the lender stating they have pre-qualified you after reviewing you                                                                                                              finances

  •   Negotiate and Counteroffer  Seller may counteroffer the buyer. The buyer need to except of put his highest and best offer                                                                    in

  •   Accept the contract -  The seller and buyer has agree on the contract written.  This is call a bilateral contract.                                               

                      Inspections* -  The contract will state the number of day the buyer and seller agree upon, usually  ( 7-15 day ).  In this time                                                          period the buyer is able to inspect the home at buyers expense.   To make sure the home is to his                                                                         expectations, If it is not the buyer will be able to get his earnest money back and  cancel the contract.                                       

                     Remove Contingencies  - The removal of any problem that buyer and seller agree upon


  •   Complete the Mortgage application*     Credit report*       Appraisal*       Verification

  •    Secure Underwriting       rejection  -  rejects mortgage application    Conditions-  may need more information with                                                                                                                                                                             finances

  •    Obtain Loan Approval

  •    Schedule Survey

  •    Contact Title Company          Title exam & Title insurance                                  

  •    Close on The Property

  •    Take Possession of your New Home


Money Up Front*

  • Earnest Money 

  • Option Money -  Taxes and homeowners Insurance

  • Inspection fee

  • Appraisal

  • Credit Report


The Home Buying Process     
www.askbarb.realtor

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