One Step at a Time to Ensure a Smooth Closing

  1. 1. How much can you afford?  Qualify with a lender.  It’s important to see how much home you can afford and are comfortable paying so you know the correct price point to search.  Be prepared to send pay stubs, tax returns, etc. to the lender as well as signing multiple docs.  And do it promptly so you can complete the loan process and the fun part can begin!

  1. 2. The search is on.  The length of time it takes will vary by buyer but don’t get discouraged and never settle.  You will find the right home and usually you will know it when you walk through the door.

  1. 3. Offer.  Once you’ve found “the one” and have looked at disclosures we will submit an offer.  Don’t be surprised if the seller sends a counter-offer back.  After everyone agrees on the terms and signs the contract you are binding!

  1. 4. Due Diligence.  After you are under contract you will pay the agreed upon earnest money (usually 1% of purchase price) and your due diligence period begins.  It’s a good idea to get a home inspection so there are no surprises after you close.  You can also have anyone else inspect the home that you feel necessary - plumber, roofer, contractor, etc.  This is also the time to ask the seller to repair or replace any items the inspector found that you feel needs to be completed to move forward with the purchase.  Remember these items are negotiable between buyer and seller.

  1. 5. Decisions.  Before your due diligence period ends you must decide to either continue with the purchase or terminate (it happens - sometimes it’s best to find another home rather than accept the issues of the one you have under contract).

  1. 6. Loose Ends.  Once you are past the due diligence period there are few things to take care of before closing.  You will need to shop for home owner’s insurance - you choose your agent and policy.  You will also need to contact your new utility companies and make application for service.  Also, start packing and get your movers lined up.  The closing attorney will perform a title search to ensure there are no liens or issues with title.

  1. 7. Closing! Finally we go to the closing attorney’s office where you will sign a thick stack of papers and will leave owning your new home!!!!!!!!