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Buyer Resource |
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WHERE
TO START:
Buying a home is
process requiring research, time and persistence to get accomplished. Once the
process is started it is the coordination of a team of people to handle each and
every detail required to complete and “Close”, this process. Working
together, our Three- Agent Team assures that someone is always available to take
of things as they come up.
The first step will be
to consult with a loan officer to assess your financial options and clarify the
search area and range for your move. This can be done on-line by; Brad
Boswell, a licensed mortgage broker that has the ability to “shop”
for you, the lender that will give you the best rates and work within your
framework. Acquiring and inspecting a copy of your credit report on your own can
alert you of problems that may need to be corrected by requesting that an item
be re-reported or resolved to current status. Brad has done a lot of work for
our clients and Operates under his own brokerage firm. His preliminary
qualification form on-line will get the
information to him to begin estimating and assessing your move criteria.
Once your range of
determination is established and your power as buyer has increased
with the pre-qualification,
you are ready to view the properties that meet your needs as well as properties
that you can execute a success full closing when you do find the “One”. We
can construct the Up to the
Minute Folders of
Properties active and available in the system. The major websites, the
bigger they are the slower they are and less reflective the current real estate
available. Our
Three-Agent
Team essentially has some one on call at all times to respond to the
needs and requirements of the process of scheduling “Move in day”.
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THE OFFER PROCEDURE:
1) After a buyer has viewed your home and has written an offer to purchase, I and the buyer's representative (if other than myself) will meet with you to present the offer.
2) After the offer has been presented to you and explained in detail, we will answer any questions you might have.
Items to which special attention should be paid at this time:
- Any and all contingencies
- Time limitations on inspections
- Abnormal costs for expenses
- Limits of liability on repair work
- Approximate net proceeds Terms
- Possession date
- Closing date
- Escape clauses
- Buyer's ability to perform
3) After all of your questions have been answered, you will make a decision to accept, counter offer, or reject the offer.
4) The offer is then returned to the selling agent who will take it back to the buyer
as an accepted/ratified contract, a counter offer for the buyer's acceptance or as
a rejected offer.
5) After the offer has been accepted and ratified by both the buyer and seller it becomes a contract.
5A) The buyer will present a list of repairs that are requested determined by
the buyers inspectors findings. The inspection will be done within the time
frame designated by the contract (5-7 days). An option fee ($100) is paid by the
buyer and in gives the buyer the right to terminate the contract in the event
the repairs to be done are not in agreement by both parties. The contract can be
terminated and the option fee is kept by the owner. The escrow monies will be
refunded.
6) The countdown begins toward closing and title transfer.
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Nehemiah Program
The Nehemiah Program can get you into a home
for as little as 1% or even zero down, Click Here http://nehemiahprogram.com/
to find out more or Contact Brad Boswell to get more info and help with
getting your loan process started
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LIFE OF
AN ESCROW |
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PREPARE ESCROW
INSTRUCTIONS AND PERTINANT DOCUMENTS |
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<--------------OBTAIN
SIGNATURES--------------> |
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ORDER TITLE
SEARCH |
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PROCESS
FINANCING |
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RECIEVE
AND REVIEW PRELIMANARY REPORT |
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RECIEVE
DEMANDS (IF ANY), REQUEST CLARIFICATION OF OTHER LIENS (IF
ANY) AND REVIEW TAXES ON REPORT |
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RECIEVE
DEMANDS AND ENTER INTO FILE |
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REQUEST
BENEFICIARY STATEMENT |
REQUEST
OR PREPARE NEW LOAN APPLICATION |
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REQUEST
BENEFICIARY STATEMENT AND ENTER INTO FILE, REVIEW TERMS OF
TRANSFER AND CURRENT PAYMENT STATUS (IS PRIOR APPROVAL
NECESSARY TO RECORD?) |
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OBTAIN
LOAN APPROVAL AND DETERMINE THAT TERMS ARE CORRECT |
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REQUEST
LOAN DOCUMENTS |
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REVIEW FILE TO DETERMINE
THAT ALL CONDITIONS HAVE BEEN MET
AND THAT ALL DOCUMENTS ARE CORRECT AND AVAILABLE FOR SIGNATURE
Termite Inspection, contingencies released, fire insurance ordered,
additional documents {second deed of trust, bill of sale, etc} have been
prepared |
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FIGURE FILE AND REQUEST
SIGNATURES ON ALL REMAINING DOCUMENTS |
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FORWARD ALL
DOCUMENTS
TO TITLE COMPANY |
OBTAIN FUNDS
FROM BUYER |
RETURN LOAN
DOCUMENTS |
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REQUEST LOAN FUNDS |
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FUNDS |
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ORDER RECORDING |
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CLOSE FILE PREPARE
STATEMENTS
AND DISBURSE FUNDS |
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COMPLETE CLOSING
FORWARD FINAL DOCUMENTS
TO ALL INTERESTED PARTIES
(BUYER, SELLER, LENDER) |
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