Pre-approval means that your income, assests, and credit have been reviewed to the satisfaction of the lender.
A loan will be issued, subject to satisfactory appraisal of the property.
Providing a pre-approval letter with your offer to purchase a house increases the credibility of your offer
in the eyes of the sellers who often have several offers to consider.
I will provide you with a list of recommended lenders.
Be practical when getting pre-approved. Make sure that you will be comfortable with your monthly payments.
When you talk to the Lender, have the following information available:
- Social Security Number
- Minimum monthly credit card payments
- Monthly payment for car loan
- Bank statements
- Stock/bonds and mutual fund account statements
- 401(K) statement
- Amount you owe on your current home
Looking for a home
Before you start looking for a new home, identify your needs and preferences
At a minimun you should identify:
I will diligently search for homes based on your criteria!
- Number of bedrooms needed
- Number of baths needed
- Desirable neighborhoods
- Style of home ( Single family,Townhome,Condominum, etc ...)
Making an offer
Once you find the home you desire,
I will research all recent home sales in the area to determine the fair market value of the house.
We will use this information to develop a competitive offer without overpaying for the house.
Conducting a home/termite inspection
Purchasing a house is one of the most important purchases in ones life.
It is important to know what you are getting. I can't stress enough the importance of having a thorough home and termite inspection by a qualified professional.
I will provide you with a list of recommended home and termite inspectors.
Once the inpsections are complete the terms of your contract can usally be renegotiated.
The final walkthrough is generally conducted 24 - 48 hours before closing.
The purpose of the final walkthrough is to verify:
- that all items you have contracted to buy are still in the home( stove, refrigerator, etc...)
- all debris have been removed from the home and the home is clean
- all repairs have been completed.
Closing is the final transfer of the property from the sellers to the buyers.
You should bring the following information to closing:
- Home Owner Insurance Policy( secure home owners insurance one or two weeks before closing)
- Certified funds for closing