During this meeting, we will talk about the options and choices you have in the “Working with Real Estate Agents” brochure and how an exclusive buyer’s agent works for you in protecting your interests throughout the home buying process.
Meet with your lender
Review the preferred lenders list in this package. While you are not obligated to choose one from the list, you want to consider all options available to you in a loan and the level of service you will receive in the mortgage process and after you close on your home. The lenders on this list are highly recommended by many of my past clients and me.
Needs and Wants List
Although this list is very basic, it is designed to help us work as a team in determining your wants and needs in a property. It a starting point to finding your home.
Finding Your Home
You should set aside 2-3 hours to view approximately 4-5 homes at a time. Take notes!
The Offer to Purchase and Contract
This is the legal contract used in purchasing your home. You should consider making an offer that you will be happy with and that will encourage the sellers to move. There is often negotiation that occurs during this portion of the process. As my client, I will guide you in the fine points of how we will negotiate the terms to best suit your wants and needs in buying your home.
The inspection is perhaps one of the most important aspects of purchasing a home. This is the time for you to walk along-side the inspector and discover the items that are incorrect. We will work as a team to schedule the inspection for an available time that best suits your schedule. If you are purchasing a new construction home, the builder will contact you directly to set up a series of inspections from “preconstruction drywall” to the “final walk-thru”. I will attend inspections with you and assist you in asking the right questions along the way.
Finalize Your Mortgage
In the initial meeting with your lender, you will receive a list of items your lender will need to process your loan. Although this list includes most items they will need, the loan is accepted by an “underwriter.” It is not unusual for an underwriter to request additional documents. Be prepared for this in the event it should come up.
The appraisal is an estimate of value of your new home. It is ordered by your lender and you need not be present for this event. It is the lending institutions’ way of ensuring that they are not loaning you more funds in a mortgage than the house is worth.
Although the survey is usually an optional item, I strongly recommend that you have one done. If you are purchasing a new home, you will receive a completed survey at closing. If you are purchasing an existing home, please notify me if you would like a survey done so that I may notify the closing attorney, following the inspections.
Homeowners Insurance Policy
Within 1-2 weeks prior to closing, I will notify you that you should obtain a homeowners insurance policy. If your current auto insurance carrier provides homeowners’ insurance you should obtain a rate quote from them. Most insurance carriers will provide a multi-policy discount. Once you have chosen your insurance provider, please call or email me with a company name, contact name, and phone number for the insurance company.
The Loan Commitment Letter
The loan commitment letter is a letter that states that your loan has been approved by the lender and that the underwriter has signed off on the loan. I will keep in close contact with your lender throughout the mortgage process to ensure that things are on schedule for your anticipated closing.
A few days before closing, the seller will notify the utility companies that there will be either discontinued service or a name change to the current service. I will notify you that this has occurred. You should then contact them to begin your service. It is recommended that you begin your service on your closing date.
Prepare for Closing
Usually the day before closing, I will receive a settlement statement from the closing attorney. I will review the information for accuracy and advise you of your funds needed to close. You will need to obtain a certified check for that amount made to the attorneys’ office.