Purchasing a property is most likely the biggest financial decision you will make. Your preparation is the key to this process and the key to obtaining the most for your money.
First step is to build a “purchase file”. A purchase file contains a variety of your financial documents. You will need these items in order to obtain a loan for your property. Click here for a Purchase File checklist.
Once you’ve provided these documents, I’ll be able to determine your maximum buying power (thereby “pre-qualifying” you). I can then provide you with a “Pre-Approval” letter (needed upon submitting any purchase offers).
* I order your credit report
* I provide you with your pre-approval letter (indicates you’ve been “pre-approved” to borrower a specific amount of money)
* Together we views homes
* You decide on a home
* I write a purchase offer with terms approved by you
* Offer is accepted
* Escrow is opened (your deposit is delivered to escrow within 48hrs)
* Your information is sent to a lender
* Inspections are ordered & completed: home inspection, termite inspection etc…
* Appraisal is ordered
* Your loan is analyzed/underwritten by the Lender
* Together we meet all conditions required by the Lender
* We work with escrow on final details: insurance, their paperwork
* Final loan documents are provided by the Lender for you to sign
* Escrow reviews the signed loan documents & schedules with you a closing date
* You arrange for any final amount to be wired into escrow
* You & I do a final “walk through” of the property
* Escrow closes the day that you’ve agreed upon-pending no last minutes issues.
* Your loan records (at the County office’s) on the “closing” day or the next day. Once your loan records you are then given the keys to your new home!