Buying a home can be a daunting process. You need to know all it entails for a great buy. You need not worry, our home buying process / flowchart will take your through.
A
Initial Consultation
- Agency Disclosure
- Overview of buying process
- Buyers needs and wants
- Financial qualifications
Representation Agreement
- Services and fees
- Client and agent obligations
Mortgage Application
- Select lender/mortgage
company
- Initiate application process
- Get pre-approval from
lender
Select Location
- Town profile
- School system
- Tax rate
- Growth rate
- Appreciation potential
Property Search
- Multiple Listings (MLS)
- For sale by owner
- New construction
- Auction/bank owned
B
Pre-offer Search
- Property Analysis
- Property history (list/sale)
- Zoning/deed restrictions
- Opinion of value
Offer Strategy
- Price and terms
- Contingencies
Offer Presentation
Offer Acceptance
- Binder deposit required
Home Inspections
- Analyze results
- Renegotiate if necessary
Schedule Appraisal
P & S Agreement
- Preparation
- Review by attorney
- Additional deposit
required
C
Finalize Mortgage Application
Loan Approval
- Obtain commitment letter
from lender
- Notify seller/seller’s agent
Work by Lender’s Attorney
- Title search
- Obtain municipal lien
certificate
- Assemble paperwork for
settlement
Coordinate Closing Details
Final Property Walk Thru
- Day of closing
Closing
- Sign documents
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