BASIC STEPS IN BUYING A HOME
BASIC STEPS IN BUYING A HOME
Provided by
Dinah Fuller
CHOOSE A MORTGAGE LENDER - This will help you focus on your financial goal in home investment. Pre-approval will increase your credibility when making an offer. Most homeowners will not consider a contract from a buyer without a commitment letter from the Buyer’s lender.
CHOOSE A REAL ESTATE PROFESSIONAL - One who will offer Single Party Broker representation and will protect your rights and place your interest above the interests of anyone else.
ESTIMATED COST TO BUYER - Your Real Estate Professional will provide you with this estimate and your lender should provide you with a “Good Faith Estimate” showing closing costs & payment.
CHOOSE A HOME - Your Real Estate Professional will provide you with a list of homes currently on the market in your favorite area and take you on a tour of those homes.
CURRENT MARKET ANALYSIS - Your Real Estate Professional will run this analysis on the area your chosen home is in to insure you are not paying over fair market value.
CONTRACT - Prepared and explained step-by-step by your Real Estate Professional.
EARNEST MONEY CHECK- Be prepared to write this check at the time of contract writing. $500.00 or more depending on the purchase price. This shows your intent to purchase the property and says you won’t walk away from the contract or the money.
NEGOTIATE CONTRACT - through your Real Estate Professional
IT’S A DEAL!!! - when contract is accepted by both buyer and seller, and each has a signed copy of all pages of contract and disclosures and earnest money has been endorsed over to the listing broker.
COPY OF CONTRACT TO LENDER - Faxed to your lender by your Real Estate Professional.
APPRAISAL - Immediately after contract, deliver a check to the lender so he can order.
INSPECTIONS - Scheduled through and attended by your Real Estate Professional and paid for by you. You should also attend these inspections.
ABSTRACTING - Your closing company will have your abstract read and a title opinion given by a qualified attorney.
TITLE INSURANCE - Must be purchased by you for your mortgage company (part of your closing costs). Owner’s policy is optional but highly recommended.
UTILITY CONNECTIONS - Be sure to schedule all your utilities transferred to your name on the day of closing.
FINAL WALK THROUGH – 24-48 hours prior to closing with your Real Estate Professional
CASHIER’S CHECK - made out to you in the amount of your final closing costs and down payment. You will endorse this check over to the closing company at closing.
DRIVER’S LICENSE - required for identification purposes at closing.
ATTEND CLOSING - with your Real Estate Professional.
NOW YOU ARE READY TO MOVE!!!
You may leave a message on my voice mail 918.643.2760 and I will return your call promptly
You may e-mail me at dinahsue@
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