1. Choosing your agent:
How does a buyers agent benefit you? Josh and Jolene have the most current information on
new and existing homes on the market. We can show you any home on the market and offer
total commitment to you as a buyer. This includes homes advertised in the newspaper or on
the internet, homes for sale by owner, open houses, homes listed by other companies and
homes you've heard about from friends, family, or contacts.
2. Financing:
Josh and Jolene can help you find financing. Borrowing enough money to buy a house can
be intimidating. We can guide you through the process. Below is a listing of some of your
options when choosing a lending institution, and deciding on what kind of loan to obtain.
A Mortgage
A mortgage is a loan for the cost of the property. The title is held by the
lending institution until you pay the loan back according to its terms. The
repay early, the interest rates you pay for use of the loaned money, and other
terms, are all spelled out in the contract for your mortgage. You will be
Down Payment
The down payment on your home will guarantee the lender that it will not lose
money if you fail to pay your debt. The lender requires the mortgage to be less
than the value of the house, so that the loan will be paid back if the house has
the house, and the loan you can get to purchase it.
The Conventional Rate Mortgage
This is a mortgage with an interest rate that stays the same until the mortgage
is paid off. The exact terms of repayment, and the specific interest rate
available at any given time, is variable. You can call institutions to find out their
interest rates, or I can do it for you. I can also help you calculate how much
3. Choosing a home:
Start by making a list of all of the things you are looking for in a home. For example, how
many bedrooms and bathrooms do you want? Do you want a Fireplace? A garage? You
should let Josh and Jolene know exactly what you are looking for when you begin your
search to ensure the best results for homes that suit you best.
4. Making an Offer:
Josh and Jolene's expertise will be extremely valuable when making your offer. They can
provide you with comparative selling prices for similar properties in the neighborhood. Josh
and Jolene may also be able to tell you how long the house has been on the market. If it's a
new listing, chances are there's less room to maneuver than if the house has been on the
market for six months to a year. Be prepared for counter-offers, this is a normal part of the
negotiation and you shouldn't let it get you down.
5. Getting an Inspection:
Now that we have an accepted offer, we have ten days to obtain an inspection. The
inspection is an important step in the home buying process. The inspector will look for any
existing and potential problems that may occur. Whether you are buying a new or used
home, you should obtain an inspection by a professional before closing. The inspection will
be an added buyer expense, but could save you hundreds of dollars in the long run.
6. Closing:
You can't move into your new home until you complete the closing process. You and your
real estate agent will select a closing agent to coordinate the closing-related activities. Your
role at the closing is to review and sign documents related to the loan and to pay the closing
costs. This meeting will focus on the final aspects of your loan and the issuing of your
mortgage. Be sure to keep a copy of everything you sign at the closing, you will need these
papers for your tax returns.
- The duties of the Title Company are....
- Opens the order for title insurance
- Receives funds from the buyer and/or any lender.
- Prorates insurance, taxes, rents, homeowner association fees, etc.
- Disburses funds for title insurance, recording fees, real estate commissions, lien
clearance, etc.
- Prepares a final statement for each party, indicating amounts to be disbursed for
services and any further amounts necessary to close escrow.
- Records deed and loan documents, delivers the deed to the buyer, loan documents to
the lender and funds to the seller, closing the escrow.
7. Moving Day:
Moving can be a lot of fun, all it takes is a little planning ahead of time. Schedule moving
trucks a least one month ahead to be sure a truck will be available when you need it. Start
collecting boxes for packing, call the utility companies and give them a cancellation date and
a start date for your new property, and change your address. Don't forget to save your
receipts, some moving expenses can be tax deductible.
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