{THE HOMEBUYING PROCESS}

 

Pre-Approval and Realtor Meeting 

  • Loan Officer Meeting

    • ​Share income and other financial information

    • Find price range for which you are qualified 

  •  Get Pre-qualified​

  • Obtain a pre-approval letter

  • Obtain a "Truth in Lending" letter explaining the costs of borrowing money

  • Learn about the many loans available to buyers in today's market

  • Learn about Closing Costs 

  

Begin Viewing Homes with your Realtor

  • It is important that, when possible, all decision-makers should visit the prospective homes

  • Always be candid with your Realtor. This will help us understand your particular needs and desires and enable them to select homes you'll want to see 

 

Prepare the Offer

  • We will provide you with a comparative market analysis on your property choices to assist you in making an informed decision

  • We will go through the contract with you and complete your offer

  • Negotiations will continue until both the buyer and seller agree on all terms

  • The 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

  • Your loan officer will need a copy of the contract 

  • Apply for the loan 

 

Inspect the Property

  • Select an inspector

  • Arrange for a general inspection and a wood-destroying inspect inspection

  • We can also provide information about other environmental assessments 

 

Appraisal and Survey of Property

  • Arrangements for property appraisal and survey will be made by the lender and the title company

  • Buyer will be provided a copy of the Title Commitment Letter

  • Buyer will make arrangements for homeowner's (hazard) insurance as well as arrange for the insurance agent to talk with the closing officer at the title company

 

Seller's Closing is also arranged

  • As the Buyer, you will receive a copy of the closing statement for review prior to closing 

  • The Buyer should do a final walk-through inspection of the property

  • Your realtor will arrange a closing date and time with the buyer and title company. Seller's closing is also arranged

  • The Buyer will bring a cashiers check for all closing costs and the balance of the down payment 

 

After the Closing 

  • Documents will be sent to your loan company for approval and funds are disbursed

  • The title company will receive and fund all money from the loan company. Payment of any accrued expenses in connection with the closing are due including taxeds, attorney's fees, professional real estate fees and title company fees

  • Legal documents will be recorded in the county clerk's office and mailed to the buyer

  • The title company prepares and issues the title policy and sends it to the loan company and new home owner.