- REALTOR
-
- Find someone you’re comfortable sharing everything with, from any concerns to your perfect dream home.
- Make sure they understand your needs.
- Make sure they are familiar with what type of loan you are pre-qualified to use.
- LENDER
- Shop around; a general rule is you have about 30 days to avoid multiple hits on your credit report.
- Do they pay closing costs?
- FIND YOUR HOME
- No HOUSE is perfect, but as it becomes your HOME it will become perfect.
- AGREEMENT / CONTRACT
- Binder
- Closing Costs
- Type of Loan
- Date of Closing
- Cancel contract within 10 days for any reason
- Loan application has to be made within 5 days
- INSPECTION
- 10 days to do any and all inspections including a WDO inspection.
- An additional 7 days to negotiate repairs and come to an agreement in writing with the Seller.
- Price is based on square footage, estimated to be $450 & up.
- WDO INSPECTION
- Required for VA Loan, optional for the other types of loan.
- Estimated between $85-$250.
- VA will not approve without a clear WDO Inspection Report.
- APPRAISAL
- Must be paid for within 3 days of loan application.
- Estimated between $400-$550.
- If home appraises for less than agreed purchase price there are four options:
- Seller comes down on purchase price
- Seller pays the difference
- Buyer pays the difference
- Both Buyer and Seller split the difference
- LOAN APPROVAL
- The process can usually get done within 25 days.
- FINAL WALK THROUGH
- Within 24 hours of closing
- Check to ensure the home is in the same condition as when the contract was executed- all appliances, per contract, are present, and all repairs have been completed.
- CLOSING
- Title company will verify funds and distribute according to contract stipulations.
- Sign in BLUE ink.
- Receive the house, garage, mailbox and amenities keys to your new home.
CONGRATULATIONS!
