The process a lender uses to assess the risk of lending money.
The Ultimate Guide To Buying Your Home!
As a home buyer, it is easy to get overwhelmed with the million-and-one things you have to think about. I created this FREE guide to help you along the way. Inside, you will find everything you need to help you find a home that you love.
01. Initial Consultation
We will meet with you to understand your needs, preferences, and budget for your new home.
02. Mortgage Pre-Approval
We will assist you in getting pre-approved for a mortgage to understand your purchasing power and demonstrate your seriousness to sellers.
03. Home Search
We will help you find homes that meet your criteria using our MLS database and other resources. We will schedule and accompany you to viewings.
04. Making an Offer
Once you find the perfect home, we will help you craft a competitive offer and submit it to the seller.
05. Negotiation
We will negotiate with the seller on your behalf to ensure you get the best possible terms and price.
06. Offer Acceptance
Once the offer is accepted, we will assist you in finalizing the contract and ensure all necessary documents are signed.
07. Home Inspection
We will help you schedule a home inspection to identify any potential issues with the property. We will negotiate repairs or credits if needed.
08. Appraisal and Loan Approval
Your lender will conduct an appraisal to confirm the home’s value. We will work with the lender to finalize your loan approval.
09. Closing Preparation
We will guide you through the final steps, including securing homeowner’s insurance, reviewing closing documents, and arranging a final walkthrough.
10. Closing Day
We will accompany you to the closing, where you will sign all necessary documents, pay closing costs, and receive the keys to your new home.
Real Estate Terms to Know
Appraisal
A professional estimate of a property’s value, often required for securing a loan.
Closing Costs
The expenses over and above the price of the property during closing, such as title fees, attorney fees, etc.
Contingency
A condition that must be met before a contract becomes binding.
Earnest Money
A deposit made to a seller showing the buyer’s good faith in a transaction.
Escrow
A neutral third party that holds funds or documents during the sale process.
Home Inspection
An examination of the condition of a real estate property, usually performed before the sale.
Mortgage Pre-Approval
A lender’s written commitment to offer a loan to a potential buyer.
Title Insurance
A policy that protects against losses due to title defects.