So you’re finally ready to purchase a home?

Congratulations, you’re taking the first step to acquiring your piece of the American Dream!   

Choose a Realtor who is a member of Multiple Listings/MLS.  This will save you time and money by giving him/her a larger inventory of properties to find the perfect home for you.  Decide weather or not you would prefer working with a Sellers agent or a Buyers Agent. A Buyers agent will preview properties, negotiate prices and assist in making decisions on your best interest. 

Obtain a Written Pre-Approval from a mortgage company. It lets you and your sales agent know how much you can afford and tells the seller that you are a serious buyer. 

Make an Offer once you have found a property that you like, give the realtor a price you think is honestly fair to both you and the seller. 

Select a Lawyer once you have started looking for a house. You should have selected an attorney or at least be in the process of selecting one. 

Obtain an Accepted Offer - (A/O) once you and the seller have come to an agreeable price. Congratulations! At this point you are almost ready to become a home owner. 

A Purchase Memo will be drafted by your realtor. This document is used to draw up the legal contract of sale. It is imperative that all information on it is correct. 

The Closing Cost is the amount paid out by you at the closing table. This is collected at the time the property is transferred into your name. The amount differs from property to property. Make sure you fully understand the amount required by you. Your Mortgage Company or lawyer will give you an exact amount. 

Inspect the Property. You need to know you are making a sound investment. A licensed/certified engineer may be instrumental in putting your mind at ease. 

Contracts usually arrive at your attorney’s office in 1-7 days of the accepted offer. You should sign the contract as soon as possible (between 2-5 days) of receipt from your attorney. The seller has the option to choose another buyer if the contracts are not signed on time. A check for the agreed down payment should be made out to the seller’s attorney at this time. 

The Title Report & Survey are normally ordered by your attorney after the contracts are signed. This will insure that there are no liens, open permits and unauthorized additions against the property. It will insure you purchase a property free and clear of someone else’s debts, errors, and claims.   

The Bank Appraisal insures that the amount you have agreed to pay is at least the current value of the property. 

Insurance is obtained once the closing date is established by the attorney. 

The Walk Through usually takes place 24 hours or less prior to closing. You should receive the house as specified in your contract. 

The Closing usually takes 1-3 hours. You will need to bring a certified or cashier checks, photo ID, original proof of insurance, and the original Termite report.