The Home Buying Process- Making an offer and Steps to Closing

Dated: January 16 2023

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When we find the home that you would like to make an offer on, if we have not already completed one, we will do a full market analysis. This will help you understand what similar properties have either sold for, or are currently on the market for. This coupled with our expertise will help you make an informed decision regarding the potential value of the house and enable us to strategize regarding the details of the offer.

Along with the offer, you will need to provide a pre-approval letter and have your earnest money deposit ready. The seller’s agent will negotiate on their client’s behalf and we will negotiate on yours. This will include discussing and agreeing on offers and counter offers. Once an agreement has been reached and the parties sign the contract, your earnest money deposit will be cashed, if your prefer we can arrange for the deposit to be sent by wire transfer.

Home inspection: This is a buyer cost. It is always a good idea to have a home inspection which will ensure there are no serious issues with the property. You can choose a company or we can refer you to one. If there are issues, we may negotiate with the seller to make repairs that have an effect on your loan, or are potential deal breakers.

Termite and Moisture: The seller is usually responsible for paying for this report and they may need to repair/treat the home if evidenced of damage is found. Again, if this is necessary, we will negotiate this on your behalf.

Condo/POA disclosures: The seller should provide us with any HOA/POA/CONDO packets if your home is in an association. You will have three days to review these papers and if you find the neighborhood covenants to be deal breakers, you may back out of the contract. We will advise and guide you through this process.

Appraisal: Your lender will order the appraisal. It is common for most buyers to wait until after the results of the home inspection to order the appraisal, since it is an unrecoverable cost in the home buying process.

Home Insurance: You will need to decide on a suitable home insurance policy because the lender will want this information since the payments become part of the mortgage.

Walk Through Inspection: Usually scheduled 2-3 days before closing in order to make sure all repairs have been completed. There will be an inspection form for you to sign.

Utilities: You should schedule the setting up of utilities in advance effective the day of closing, unless you and the seller have made a different agreement.

Closing process. We will co-ordinate between the sellers, their agent, the lender, the sellers closing office and your closing office to ensure all reports and documents are complete and ready for closing.  We will meet at a closing office in order to sign all of the necessary paperwork. The seller will do the same but not necessarily the same office.

After Closing: We will continue to stay in touch and give any assistance we can to ensure your move goes well. More than 80% of our business is from repeat business and referrals.  Our goal is to ensure your complete satisfaction.

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Patti and Kevin Harris Real Estate

Straight forward, customized service for every client, whether buying or selling, no matter what your criteria and timescales. We have over 20 years experience helping to guide our clients through t....

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