2. Get pre- approved!
* Talk to lenders to determine how much you can afford.
Lenders can tell you how much the monthly payment will be (including
PITI: Principal, Interest, Tax, and Insurance). You should get a good faith
estimate and pre-approved letter so you will be ready to make an offer
anytime you find the right home.
3. Find the right home for you
* Your agent will send you all properties matching your search requirements .
* Tell your agent which property you want to see. Your agent will contact
the seller’s agent and make an appointment for you.
* Ask as many questions as you like.
4. Make an offer and schedule the inspection
* Have your agent do the CMA (Comparative Market Analyses) to determine the home’s value.
* Be prepared for negotiation: discuss the price and terms of the contract with your agent
* Your agent will write a contract, present your offer to the seller’s agent, and negotiate for you, if necessary.
* After the contract is accepted, hire an inspector to make sure the home is
in good shape.
* The results of the inspection should be reviewed by your attorney.
If necessary, your attorney will amend the contract and negotiate any
repairs or compensation with the seller’s attorney.
5. Secure the loan
* Shop around for the best deal possible and find a loan that matches your
needs. There are different types of loans and your agent can recommend
some lenders.
6. Closing
* Schedule a final walk-through and go back to the property with your agent to
make sure any repairs agreed upon by the seller are completed.
* The closing will take place at a Title Company. After all terms are fulfilled,
you will get the keys! |
