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The Homebuying Process

Get Pre-Approved and Meet with your Realtor®

  • Meet with a loan officer
  • Get Pre-qualified
  • Obtain a pre-approval letter
  • Obtain a “Truth in Lending” letter explaining the costs of borrowing money
  • Learn about the many loans available to buyers in today’s market
  • Learn about closing costs

Begin viewing homes with your REALTOR®

  • When possible, all decision-makers should visit the homes
  • Always be honest with your REALTOR-it will help them to understand your needs and desires better

Prepare the offer

  • Your REALTOR® will provide you with a comparative market analysis on the area of your choice in order to assist you in an informed decision
  • Your REALTOR® will go through the contract with you and complete your offer
  • Negotiations will proceed until both buyer and seller agree on all terms and sign
  • All documents will be sent to the title company where a file will be opened, and title commitment and property tax information ordered

Make your loan application

  • Give your loan officer a copy of the contract and apply for the loan
  • Get pre-qualified

Inspect the Property

  • Select an inspector and arrange general inspections and wood-destroying insect inspections

Appraisal and survey of property

  • The lender and title company will make arrangements for the property appraisal and survey
  • Buyer will be provided a copy of the Title Commitment Letter
  • Buyer will make arrangements for homeowners (hazard) insurance, and arrange for the insurance agent to talk with the closing officer at the title company

Seller’s closing is also arranged

  • Buyer receives a copy of the closing statement for review prior to closing
  • Buyer does a final walk-through inspection of the property
  • The REALTOR arranges a closing date and time with the buyer and title company
  • Buyer brings a cashiers check for all closing costs and the balance of the down payment