Assets vs Debt, Income vs. Expenses and Credit Score
2. What is your Right Home?
Price, Location, Home Type, Size (Beds, Baths, Square Feet) and Feature
3. Home Showings
Don’t view too many in one day
Interior decorations can be changed
Bring a notebook and a camera
Keep the folder your Realtor provides you of the home flyers
Don’t be afraid to ask questions.
4. Making the Offer
To make an offer your broker will utilize Offer to Purchase Contract.
Some of the important terms of an offer to purchase contract are the purchase price, due diligence fee, earnest money deposit, due diligence ending date, closing date, seller paid closing expenses, home warranty, among others.
Also the Seller's Agent will expect proof of funds either a copy of a bank statement showing purchase funds or a pre-approval letter from a mortgage lender.
The Seller will accept, counter your offer or reject your offer
Most typical your offer will be countered on purchase price, due diligence fee, closing assistance, due diligence and closing date
5. Getting you the Finish Line
Home Inspection – An objective, independent, and comprehensive analysis of the physical condition of the home and check for safety issues that might be otherwise unknowable.
With the results of the inspection you may be make the decision to ask for repairs, renegotiate the purchase price, or get of the offer contract all together (only losing your due diligence money)
Getting the Appraisal – Independent value of the home by a licensed and qualified appraiser
Clearing Title – Ensure you have complete ownership with any “clouds on title” corrected by an attorney before closing. Then having your attorney obtain title insurance.
Closing – Your Broker will schedule a final walk-through and you will go an attorney’s office to pass ownership and title of your home to your name. Congratulations you now own a home!
Author:Jeffrey Hoover Phone: 704-421-8555 Dated: April 24th 2018 Views: 169 About Jeffrey: Real estate is my passion, helping you reach your dreams with an excellent customer experience is my...
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