SELECTING A LENDER

FUNDING YOUR HOME PURCHASE

1. Financial Pre-qualification or pre-approval

Application and interview
Buyer provides pertinent documetation, including verification of employment
Credit report is requested
Appraisal scheduled for current home owned, if any

2. Underwriting

Loan package is submitted to underwriter for approval

3. Loan Approval

Parties are notified of approval
Loan documents are completed and sent to title

4. Title Company

Title exam, insurance and title survey conducted
Borrowers come in for final signatures

5. Funding

Lender reviews the loan package
Funds are transferred by wire

WHY PRE-QUALIFY?

We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.

Loan Preparation

SUGGESTIONS FOR PROTECTING YOUR CREDIT

Avoid Changes in Employment
Avoid Cosigning for Any Loans
Avoid Changing Banks & Opening Lines of Credit
Avoid Falling Behind on CC Payments
Avoid Charging or Financing Large Purchases
Check with Loan Officer Before Making Large Deposits

MAKING AN OFFER

Once you have found the property you want, we will write a purchase agreement. While much of the agreement is standard, there are a few areas that we can negotiate:

THE PRICE

What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a low offer just to see if the seller accepts, this often isn't a smart choice, because the seller may be insulted and decide not to negotiate at all.

THE MOVE-IN DATE

If you can be flexible on the possession date, the seller will be more apt to choose your offer over others.

OFFER PRESENTATION

Often, the seller plans on leaving major appliances in the home; however, which items stay or go is often a matter of negotiation.
Typically, you will not be present at the offer presentation - we will present it to the listing agent and/or seller. The seller will then do one of the following:

Accept the offer·
Reject the offer
Counter the offer with changes

By far the most common is the counteroffer. In these cases, my experience and negotiating skills become powerful in representing your best interests.

When a counteroffer is presented, you and I will work tog4ether to review each specific area of it, making sure that we move forward with your goals in mind an ensuring that we negotiate the best possible price and terms on your behalf.

THE CLOSING

PREPARE FOR IT

Closing day marks the end of your home-buying process and the beginning of your new life!
To make sure your closing goes smoothly, you should bring the following:

A certified check for closing costs and down payment
An insurance binder and paid receipt
2 Government issued photo IDs
Social security numbers
Addresses for the past 10 years

OWN IT

Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are:

DELIVERY OF THE BUYERS FUNDS

This is the check or wire funds provded by your lender in the amount of the loan.

DELIVERY OF THE DEED

A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses.

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