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buying

Buying a Property

Whether you are buying a home or vacant land, building a home, gaining recreation property, or looking forward to retirement, we are here to help you! The buying process can be exciting and overwhelming at the same time, but choosing the right person to represent your interests and guide you is the most important step in the process. Here is some information that will help give you an overview of the process.

Buying Power

By asking the right questions, you can make sure your property search is started on the right foot. Here is a good checklist:

  • Interview several lenders and get their opinions
  • Choose a lender you trust
  • Analyze your credit report
  • Provide your financial statements to the lender
  • Obtain a pre-approval letter

"So many people begin the home buying process without their critical financial information. You just can’t start without it."
Scott Dillon – Movement Mortgage

 

Property Hunt

It may be the most fun part of the entire process, but you still need to make sure you are diligent and thoughtful. Here is our recommended path:

  • Make sure you sign agency documents and that they are explained carefully
  • Determine your home criteria, and don’t get persuaded away from them
  • Search both online and in person
  • Make sure you have an up-to-date market analysis

The Offer

Once you have decided on your potential home, this is where your Real Estate Professional earns their medal. Here are some of your responsibilities:

  • Make sure you feel comfortable with the offered price
  • Consider writing a letter to the seller – it can often be a differentiator in competitive markets
  • Read your seller disclosures carefully
  • Read and review your good faith estimate
  • Ratify your contract

Ratification

Ratification and the process that follows can sometimes be stressful. Try not to let it get to you. That why we’re here! However, knowing what’s coming can be helpful. Steps along the way include:

  • Home inspection
  • Lender underwriting process
  • Home appraisal
  • Walk-through

Closing

Finally! The big day is here. It’s time to close. Here is what’s involved:

  • Choosing homeowner’s insurance
  • Choosing moving insurance
  • The HUD-1
  • The deed of trust
  • Signing the papers
  • GETTING YOUR KEYS!

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