Buyer's Center
The Home Buying Process
Maximizing Your Investment
Buying a home is not a single event. It is a series of events that are part of a complex process. Before you even think of contacting an agent or looking at homes, you need to make a plan and follow the steps of that plan in a specific sequence. When you choose to work with Marion Morton as your
Exclusive Buyer Agent
, she promises to look out for your best interests, ensuring that your next purchase is enjoyable and exciting. You will benefit by making decisions as an informed and educated consumer once Marion puts her experience to work for you.
Contact A Lender:
Get pre-approved to find out how much money you can borrow to purchase a home. If you need a recommendation, Marion Morton will be happy to assist you. Feel free to call Marion at
(800) 804-7325 or
e-mail Marion
A pre-approval letter is more reliable than a pre-qualified letter from a lender. It tells the seller that you have already been through the loan process and are just waiting to find a home. Having this type of letter can save you thousands of $$$ because sellers are more anxious to work with someone who is already approved for financing to close the purchase.
MAKE CERTAIN NOT TO MAKE ANY MAJOR PURCHASE AFTER YOU HAVE BEEN PRE-APPROVED, WITHOUT DISCUSSING IT WITH THE LENDER THAT HAS APPROVED YOU. FAILURE TO DO SO MAY RESULT IN YOUR PRE-APPROVED STATUS BEING REVOKED DUE TO ASSET/LIABILITY RATIOS RISING ABOVE THE LENDER'S LIMITS.
Determine Your
Wants and Needs
:
Contact Marion to begin your home search. She will search the Multiple Listing Service database first, and make detailed printouts for your review. Marion will then tour homes in your price range that most closely match your list of desired features.
Make an Offer and Negotiate a Contract:
As your Exclusive Buyer Agent, Marion will help you decide on a price, amount of earnest money, contingency clauses to protect you, etc. She will present the offer to purchase documents and negotiate on your behalf, if the seller does not accept your offer as presented. If we cannot reach an agreement that is acceptable to all parties, we will move on to another property for you.
Steps From Contract To Closing
Select an Attorney:
Marion will provide a copy of your contract so that your attorney can begin the legal tasks needed to represent you in the transaction. If you need help choosing a legal professional from the area, Marion will be happy to assist you. Feel free to call her at 1 (800) 804-7325 or
e-mail Marion
.
Provide a Copy of Contract to Lender:
This is done so that a professional appraisal can be performed and a loan package can be put together for submittal to your attorney.
Schedule Appropriate Inspections:
Marion can schedule necessary inspections that are meant to ensure that the home is structurally sound and that all mechanical systems (HVAC, appliances, etc.) are performing the function for which they were intended.
Secure Homeowner’s Insurance:
You will need to secure a one-year homeowner's policy with coverage beginning on the closing date of the purchase.
Final Walk-through:
Usually taking place the day before closing, a walk-through confirms that the house is in the same condition it was in when you made the offer, with the exception of normal wear and tear. Marion will also double check that any agreed upon repairs from the home inspection report have been completed by the seller.
Pay Closing Costs:
Your attorney will inform you of the amount of money you must bring to the closing. As an example, this amount might include the difference between the amount of the purchase price, the earnest money you paid, the amount of your mortgage loan, plus any expenses you incurred outside of closing, such as the attorney's fee.
Get Your Keys:
When all of the legal documents are signed, you will be given the keys to your new home.
Congratulations!