Everything You Need To Know About The Process Of Buying A New Home.
As part of our complimentary home buying consultation, we will help you prioritize your needs, wants and priorities. We will also discuss your purchase timeline and after our consultation provide a buyer’s estimated closing statement so you can understand future costs to expect.
Understand the costs associated with your purchase as well as your monthly budget. Before you get your heart set on a home, speak to a mortgage professional (contact us for a list of reputable lenders). A mortgage lender can advise you on current interest rates, the types of loans available, and factors that may affect a mortgage like duration of time at a job, debt to income ratio, credit score, past bankruptcies, or other financial considerations. After reviewing your financial history, a mortgage lender can provide you with a pre-approval letter. A pre-approval letter from a reputable lender is a must when you make an offer on a home as most sellers will not entertain offers from buyers who aren’t already prequalified for a loan.
Start shopping! It’s time to explore your options and learn the local market. We will work with you to assess neighborhood pros and cons and guide you through our exclusive process of how we go about your home search.
Once we’ve identified your next home, we will review with you comparable properties in the area that have sold, provide you with our customized Comparative Market Analysis and strategize a smart offer with winning terms and price. You can be sure that we will fiercely negotiate the best price and terms on your behalf!
Your initial deposit is due to escrow within 3 business days from acceptance. Within the first 5-7 days, unless otherwise addressed, you will receive seller disclosures and the preliminary title report. Our transaction coordinator will assist you and us, in making sure that all documents are properly signed after your review and that timeframes are adhered to as per the agreement.
Your due diligence period includes all buyer investigations. This means you can conduct just about any type of inspection you wish such as your physical home inspection, pool/spa inspection, roof inspection etc. Use this time to have your inspector check on the items that the seller has disclosed as needing repair or perhaps was recently repaired. The lender’s appraisal is also conducted during this time. Once the above contingencies have been satisfied, you agree to move forward and remove those contingencies of the sale and progress towards closing. Escrow will send you a package of documents to complete and return.
This is when your final walk-through is conducted. Often the owner is present to show you functionality aspects of the property. The final down payment is due and funding of the loan occurs 1-2 days prior to closing.
Once the loan is funded, escrow sets up recording with title and the county assessor’s office. Once we have confirmation of recording from the county, the home is officially yours! We will notify you as soon as we receive this call and setup a time to hand over keys so you can start moving. Time to celebrate!
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Sue & Gina De Legge provides their clients with a higher level of personalized attention that you won’t find anywhere else. They focus on going above and beyond their client's expectations so that they earn a long-term relationship built on trust wherein they become referable.
