The Buying Process

When you set out to buy a house there are a lot of steps involved. Many time homebuyers blaze through the process and don't really know what just happened. Here is a step by step account of the transaction and buying process.

1. Get a pre-approval letter from the lender

You will want to get a loan pre-approved and set up before you look at houses. This gets your finances in order and under control for the right house.

2. Find the home you love

Some first time home buyers will set out and be so excited about the process that they will fall in love with the first house they see. Make a list ahead of time and know what you want and what you don't want in your St George real estate.

3. Submit an offer

Here is where having a great buyers agent is really handy. An agent, specifically assigned to you and not any seller can offer you help and information with your best interest at heart. They will write up an offer that includes items such as financing contingencies, inspection contingencies and other items that you will want to approve before hand. Make sure you don't sign anything until you fully understand it.

3. Wait for a reply or any counteroffers

4. Once mutually accepted and agreed upon, get an inspection

This is the stage that can make or break the sale. If the house is a money pit you probably want to cancel the deal and get your earnest money back. If the seller agrees to fix things, give money at closing or if nothing is wrong, the deal proceeds to pending. Learn more here about home inspections.

5. Once inspections are agreed upon, there is a quiet time.

This is the time where lenders finalize the loan, escrow organizes all documents to be signed, sellers start packing and you can do the same.

6. Obtain homeowners insurance

During this quiet time buyers will want to either buy new homeowners insurance or transfer your old insurance to the new home. Shop around for the best rates and coverage.

7. Signing of  the final documents.

Many buyers and seller think this is closing but it's actually not. This is only the signing of all the documents for the buyer and seller. Each party comes in seperately and signs all necessary papers.

8. Closing and key exchange

The closing actually happens a day or so after the signing. Closing means the deed has been recorded, all parties have exchanged monies and the transfer is finalized. This can't happen until all the parties sign and then it takes a couple days for all those documents and funds can get into the right hands or files. Once that happens the keys are turned over to the new owners!

WELCOME to your new Home!

 ADDITIONAL REAL ESTATE TIPS: 

Search all La Grande OR Real Estate  and Properties (homes, ranches, farms, property, commercial) for sale and RMLS Listings in La Grande and surrounding areas in Union County Oregon Real Estate and Baker City and surrounding areas in Baker County. We are your Eastern Oregon real estate professionals.

Djana Morris is your expert in DC real estate. Whether you are buying or selling you can be sure to find the right DC property or Property in Maryland with Djana Morris.

For commercial building inspections in the Dayton Ohio areas contact Carrie Trotter. Experts in their field, they can provide building inspections and home inspectors in Ohio. Also including Energy Evaluations, Energy Audits, and 203K loan consulting.