06
08
LOAN AND APPRAISAL
CLOS I NG
Organize an appraisal with your bank. Your completed mortgage application with all supporting documentation should be submitted to your chosen lender upon receipt of the fully signed Purchase Agreement. The bank then issues loan approval. Consequently, you'll wire the closing funds with the homeowner's insurance in place, and then the loan will be funded with clearance to close.
Once all the conditions of the contract have been satisfied, the closing is held. The closing documents are signed, and as soon as the loan has funded, you received the keys to your new home!
05
HOME INSPECTIONS
It is the buyer's duty to select all desired inspections and determine the overall condition of the property within the agreed timeline and contractual contingencies. You will also review the disclosures and preliminary title report. You may approve or negotiate credits/repairs. Prior to closing, remember to schedule a final walk-thru of the property to verify property is still in acceptable condition and any negotiated repairs were done.
09
WELCOME HOME!
Congratulations! You are now a homeowner.
07
FINAL WALKTHROUGH
A final walkthrough of the property is scheduled and completed just before closing. The walkthrough confirms that no damage has been done to the home since the time of inspection and that the major systems and appliances are in working order.
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