1. Seek Guidance From Your REALTOR

• One of our REALTORS will meet with you to discuss your plans, needs and desires as well as discuss neighborhoods and schools that may be available to you.
• Additionally, you will talk about economic factors that may be affecting the market today and possibly in the future.

2. Loan Pre-Qualification

• Even before you begin looking at homes, we will assist you in getting pre-qualified for a mortgage loan.
• You will meet with a loan officer and, by sharing your income and financial information, a price range of homes for which you are qualified will be determined.
• The loan officer will help you obtain a pre-qualification letter which will be needed when we are in the process of negotiating your purchase.
• You will learn about the different loans available to you and the costs of borrowing money.

3. Look At Homes With Your REALTOR

• Your REALTOR will search all resources for houses on the market that fit your criteria.
• Appointments to view homes will be set according to your convenience.
• The positive and negative features of the homes that are viewed will be pointed out to you.
• Our knowledge of the market will help you narrow in on the house of your dreams.
• A comparative market analysis on the property or properties of your choice will be provided in order to assist you in making an informed decision.

4. Negotiate An Offer

• As soon as you have found your dream home, your REALTOR will prepare an offer on the home that will be tailored to your needs.
• Negotiations may proceed between buyer and seller until all terms have been agreed upon.
• The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property.
• After all signatures have been obtained, the documents will be sent to the title company where a file will be opened and title commitment and property tax information ordered.
• The closing is usually held within 30 to 45 days from the offer date.

5. Complete Your Loan Application

• When the offer is complete, your loan officer will need a copy of the contract and you will be working with your mortgage lender to close the loan. Since you were pre-qualified for the loan before starting the home search, the process should be relatively easy.

6. Property Inspection, Appraisal, Survey & Insurance

• Usually within 10 days after an offer is signed, the buyer will arrange for a licensed property inspector to inspect the property.
• Your REALTOR will help you arrange for any other inspections that may be needed.
• The lender and the title company will make arrangements for the property appraisal and survey.
• The buyer will be provided a copy of the Title Commitment for review.
• The buyer will make arrangements for homeowner's (hazard) insurance and arrange for the insurance agent to contact the title company.

7. Closing

• The buyer receives a copy of the closing statement for review prior to the closing.
• The REALTOR schedules a closing date and time with the title company and a final walk-through inspection of the property is arranged for the buyer.
• The buyer brings a cashiers check for closing costs and the balance of the down payment.
• After closing, the documents are sent to the buyer's mortgage company for approval and funds are disbursed.
• The legal documents are recorded in the office of the county clerk and are mailed to the buyer.
• The title company prepares and issues a title policy which is sent to the mortgage company and the new home owner.