10 Steps to Buying a Home

1. Decide to purchase home
We will work with you to define your needs, desires, and goals as a Buyer and help you determine the most important considerations in selecting your new home.

2. Mortgage Lender Meeting
Once you establish what you are looking for in a new home, it will be time to meet with a lender to determine the price range for which you are qualified. By sharing income and other financial information, you will be able to be pre-qualified or pre-approved for a mortgage loan. Having a pre-qualification or pre-approval letter will let a seller know you are qualified to purchase the home you choose to contract.

3. Area Search
After you have met with a lender, you will consider where you would like to live. An agent on our team will meet with you to determine which neighborhoods, school districts, or subdivision you prefer. Do you prefer to be in the city or in a more rural area? Being candid with your agent will allow for a better understanding of what you are looking for and will yield the best results.

4. Property Tour
Now it will be time to tour properties meeting your criteria. When possible all decision makers should visit the selected homes. We usually recommend viewing no more than five properties on any given day. Viewing too many properties can be exhausting and overwhelming. Your agent will schedule showings at your convenience.

5. Prepare the Offer
After finding a property you would like to purchase, your real estate agent will provide you with a comparative market analysis (CMA) for the property or properties of your choice. Review of this information with your agent allows you to make an informed decision with regard to the amount of the offer. The offer is then written by your agent, reviewed with you, signed, and earnest money checks and/or option fee checks are written. The offer is then delivered to the selling agent for presentation to the seller.

6. Offer Negotiation
Once the listing agent receives the offer, the offer is presented to the seller. The seller may accept the offer, counter the offer, decline the offer, or the buyer may be invited to submit a new offer. Negotiations proceed until both buyer and seller have agreed on all the terms. All documents are then sent to the title company or attorney’s office. The offer is now a fully executed contract. Title commitment and property tax information is ordered. It is our goal to help you purchase your home at the best possible price and act as your advocate in the most professional manner.

7. Loan Application & Property Inspection
The contract should be sent to your lender. You may do this or we will do it for you. You will need to apply for your loan and discuss whether you should lock in the interest rate.

Property Inspection is the next order of business. Your real estate agent will work with you to arrange for the home inspection, wood-destroying insect inspection, as well as any other inspections necessary. These inspectors work for you and you will probably want to be present for at least the final summary by the home inspector. The home inspector will prepare a report of the inspection for review. Your real estate agent will discuss this report, and should there be repairs to be addressed, negotiate the repairs.

8. Prior to Closing
Before you close, your real estate agent will confirm with the title company or closing attorney to make sure all documents are being prepared. Arrangements for the property appraisal and survey will be made. You will be provided a copy of Title Commitment Letter. Buyer will need to make arrangements for homeowner’s (hazard) insurance and arrange for the insurance agent to talk to the closing officer at the title company.

9. Arrange Property Closing
We will monitor the closing process step by step and make sure you are kept informed. As the Buyer, you will do a final walk-through inspection of the property and the closing time is scheduled by your real estate agent. You then receive a copy of the closing statement. You must then bring a cashier’s check for all closing costs and balance of the down payment.

10. After Closing
Congratulations! You are now a Home Owner. Documents are sent from the buyer’s mortgage company for approval and funds are disbursed. The title company receives and funds all money from the mortgage company for payment of any accrued expenses including taxes. We will provide you with a list of utility providers and other service providers to make your move as effortless as possible.
The Crutcher & Hartley Team
The Crutcher & Hartley Team
REALTORS