To begin the exciting process of finding your next home, we will first discuss your criteria for a house, including the number of bedrooms, bathrooms, size, location, and any other factors. At this time, we will discuss your finances and mortgage options, in preparation for meeting with a lender to make a formal application.

The Process:

• Make application with a lender and obtain a pre-approval letter. Most lenders will charge you an application fee which covers the credit report and appraisal of the home you buy. Check with them to find out if it is payable immediately or at the closing/settlement.

• Visit available homes that meet your criteria and select the one you wish to purchase.

• Submit an offer on the home of your choice.

• Write up contract papers and sign.

• Submit with the offer an earnest money deposit. This is variable, but usually ranges between $250-$2,000 depending on the value of the home. This money will be applied to the cost of the home at closing.

• Decide on which inspections and contingencies to include
- I recommend that every single purchaser include a home inspection contingency with their offer.

• The offer will either be accepted, rejected, or countered. If it is accepted, you are able and obligated to purchase the house. If it is rejected, you are then released and are free to submit another offer on this house or select another. If it is countered, then you may accept the new terms, counter them, or withdraw the offer.

• Once the contract is agreed to and signed by all parties, the inspections begin. First is the home inspection, which will cost around $250 and be paid AT THE TIME OF THE INSPECTION, which will be within fourteen (14) days of contract acceptance. Any other inspections you wish to have preformed will also be done in this time frame and payment will be due at the time of the inspection.

• Once you have the results of the inspection, you may ask the Seller to repair or replace items as a result. They may agree to some, none, or all of your requests. Under most circumstances, you may also withdraw from the contract if the home inspection turns up a problem that makes you no longer want the house—a major structural flaw for example.

• The lender will hire an appraiser (the cost is included in your lender fees) to appraise the property and ensure that it is worth the amount they are loaning you to buy it.

• A termite inspection of the property will be preformed within the last 30 days prior to closing. It usually cost around $60.00, which you can pay at closing.

• After your offer becomes a contract, you will need to be in touch with your insurance agent to purchase homeowner’s insurance on your new home. You must provide proof of this paid insurance to your lender at closing.

• Within five (5) days prior to closing, we will inspect the house one final time. If there is damage to the property, the seller must fix it prior to closing.

• At closing, you will bring a cashier’s check or certified check for the closing costs and down payment. You will sign the lender’s papers and the deed transfer. You will get the keys to the house, and it will officially be yours.