Below is a list of steps involved in the purchase process:
- Can you buy a house or is there a little work to be done?
- Credit score above 640
- Deposit money for making an offer (ranges about $2,000)
- Money for closing costs (averages $10,000 and up)
- This can be reduced by getting seller’s help
- FHA – up to 6% of purchase price
- Conventional – up to 3% of purchase price
- This can be reduced by getting seller’s help
- Deposit money – FHA will need 3.5% of purchase for a deposit, and Conventional will need 5% minimum
- Decide what, where and when
- What are you looking for (what are your must haves)?
- Where do you want to live?
- When can you buy and when can you move?
- Showings: we will preview the homes that come up that you are interested in.
- Once you have decided on “the one” we will make an offer
- See “Submitting an Offer”
- There may be negotiations, other offers, or items that might come up during this process.
- They Accepted Your Offer!! Now what?
- You will make sure your on track with all moving, other sales, contractors, etc.
- I will schedule our inspections if we have these
- I will alert your title company and our settlement team
- I will schedule closing with the other agent
- Communication and Forms
- There will be a lot of forms to sign and communication both ways will be a must.
- Pre-Settlement, Settlement and Post-Settlement
- Last home walk-through
- The day has arrived!