The buyers are directed to a mortgage company for their pre-approval and advised of current market conditions in their area. Once pre approved I do a buyer’s counseling session so they understand the process and timeline of a purchase.
1. Referred to a qualified mortgage representative and pre-qualification issued
2. Property previewed and selected
3. Offer presented
4. Contract ratified
5. Referred to a reputable real estate attorney for review
6. Contract goes from attorney review to under contract.
7.Inspections ordered
8. Loan application and appraisal ordered (if applicable)
9. Disclosure package provided to buyer for review
10.Inspections reviewed
11. Disclosure package provided to buyer for review
12.Final documents accumulated for loan approval
13. Homeowner’s insurance secured
14. Loan approved
15. Closing date confirmed; final dollar balance to be deposited into escrow is determined
16. Final instructions, if any, provided
17. Closing instructions and/or loan documents signed
18. Signed loan documents returned to Lender with hazard insurance policy, if required
19. Funding package reviewed
20. Loan funds issued
21. Final funds from buyer deposited into escrow
22. Escrow closed; final accounting; checks written and disbursed; closing statements issued
23. Keys release to new owner
24. Celebrate!
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