08 Appraisal An appraisal is an estimate of the value of a property. Although the primary goal is to justify the lender's investment, the appraisal can also protect you from overpaying. Your lender will typically hire the appraiser and charge you a fee for the service. 09 Mortgage Contingency This is a crucial step in the home purchase process. It determines whether your lender will grant your request for funds or credit. Once approved, your mortgage contingency will be satisfied. Final Amount for Closing You won't know your final cost for closing until the last couple of days. Your lender & attorney will issue these figures and provide you with a final amount to bring to closing.
05 Present An Offer So, you've found your dream home, now what? First, I will compile a list of comparable homes to help us decide on price, We will work together to finalize terms including: price, closing date, earnest money deposit, and any other requests. Next, I will present the offer to the listing agent and will handle negotiations on your behalf, which may entail several counteroffers until a meeting of the minds. 06 Property Inspection When purchasing a home, it is recommended to conduct a property inspection to ensure all of the home's components are in operable condition and up to code. If the home has any structural damage or deficiencies, we will address them during the attorney review period. 07 Attorney Review Buyers may wonder why to use an attorney if they already have a contract with the seller. An attorney who practices real estate law will provide buyers with experienced insight and expertise, giving them peace of mind during the closing process,. Contact us for a list of our preferred attorneys.
10 Closing
The closing process finalizes the purchase of your home and makes everything official. Also known as settlement, the closing is when you receive the deed to your new home. Prior to closing you should change all utilities into your name, and complete a final walk-through to check for any outstanding items that were agreed upon during the attorney review period. Congratulations! You are now a homeowner.
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