1

Obtain A Mortgage Preapproval Before You Begin House Hunting

• Learn how much financing is available to you

• Strengthen your bargaining position with sellers

Why?

2

Choose a Real Estate Agent You Can Trust

• Ask mortgage lenders to recommend agents they work with

• Select a reputable professional who knows the market and will listen to your needs

• Ask agents for references from former clients

How?

3

Find The Right Home

• Determine the needs of you and your family

• Create a wish list of desirable features

• Take notes as you preview homes

How?

4

Make An Offer

• Your real estate agent presents your offer to the seller, who will accept, counter or reject it

• When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale

How?

5

Have The Home Inspected

• Hire a professional home inspector after the offer has been accepted to provide an in-depth look at the basic systems of the house, to reveal any safety hazards and give you a chance to reconsider the deal

Why?

6

The Home Will Be Appraised

• An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value

Why?

7

Title Insurance is ordered.

• This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership

• The policy insures against any losses to the property that result from defects in the title or deed

• The Title Company is who prepares all the final documents and where you will meet with the seller's to sign everything and "close" the deal.

Why?

8

Close on the Property

• Ownership of the property is transferred

• A closing agent coordinates and distributes all the paperwork and funds

How?