Buying A Home? Here Is The Basic Information You Will Need to Know
If you want to know to expect – and you have a knowledgeable team of real estate and mortgage-lending professionals to guide you – finding and financing your first home can be an exciting and rewarding experience. Here’s what you need to know:
Step
Obtain A Mortgage Preapproval Before You Begin House Hunting
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Choose a Real Estate Agent You Can Trust
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Ask mortgage lenders to recommend agents they work with
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Select a reputable professional who knows the market and will listen to your needs
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Ask agents for references from former clients
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Find The Right Home
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Determine the needs of you and your family
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Create a wish list of desirable features
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Take notes as you preview homes
Step
Make An Offer
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Your real estate agent presents your offer to the seller, who will accept, counter or reject it
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When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale
Step
Have The Home Inspected
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The Home Will Be Appraised
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An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value
Step
Title Insurance is ordered.
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This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership
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The policy insures against any losses to the property that result from defects in the title or deed
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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.
Step
Close on the Property
Get In Touch
Do you have questions? Do you need help with purchasing a property or refinancing? Get in touch. Contact Therese today, and she'll be able to answer any of your questions.