BUYER PROCESS –
WHAT TO EXPECT
- Get Pre-approved.
- Know your Budget.
- Find a real estate professional you trust.
Knowledgeable about things to look for.
Is your representative.
4. Go Shopping with your agent.
5. Write a contract with your agent.
6. Negotiate contract via counter offer
7. Agent will send contract to your lender to start the loan process and to title company to open escrow.
8. Lender will request appraisal and submit to underwriting.
9. Deposit earnest money delivered title company per contract.
10. Additional documentation and more documentation to lender and underwritting.
11. Agent will provide you with a list of home inspectors and help you choose one.
12. Agent will schedule inspection with your choice of inspectors.
13. Submit an Inspection Notice to seller by deadline. Inspection options. Contractors for bids if necessary.
14. Negotiate inspection notice with seller by deadline.
15. Get an insurance quote from your insurance person. Agent can make recommendations if you need some.
16. Wait for appraisal to come back….. What if it doesn’t.
17. Wait for “Clear to Close” from underwriting.
18. Lender and agent will get an appointment at the title company.
19. Sign closing disclosures, starting 3 day rule for buyer protection.
20. Close at the title company where you sign all your documents and funds will be exchanged. Bring your id.
21. Recording at courthouse generally takes a couple hours following funding of the loan.