The Process of Buying Your Next Home
1. Meet with your Equity NW Professional
Discuss your objectives, describe the home you’re looking for, and make a plan together to find it.
2. Who will your Lender be if a mortgage loan will be needed?
Meet with your lender. If you need recommendations, your Equity NW Pro will be able to assist. Be sure to ask your Lender to provide you with a Pre-Approval Letter. This is very important to include with any offer you make to purchase your next home.
3. Time for you and your Realtor to begin your house search
You & your agent will review available market data in order to select the houses you are most interested in. Then, your agent will show you those properties, confirm values, and give you tips to finding the perfect home.
4. We FOUND IT!
Once you’ve found the home you’re most interested in, and there has been a thorough examination of values and suitability, your Equity NW agent will prepare an offer, negotiate on your behalf, and begin the escrow process.
5. Escrow process – What’s This?
During the escrow process there can be a number of obstacles along the way. You don’t have to worry, though, your Equity NW agent knows how it all fits together, and will be with you every step of the way!
- Loan documentation & coordination within escrow
- Home inspection – Basic whole house for sure. You might also have “special” inspections (water quality, septic, survey, roof certification, radon, survey/boundaries, and more)
- Your appraisal completed and report received
- Inspection repairs, if any.
- Preliminary Title Report to be sure the Title on the home is clear
- Surprises…there’s always a few, but again, Not to Worry!
6. Closing Day! Almost Home.
Once all the documents have been gathered together in one place by Escrow Services, you’ll be scheduled to come in with your agent to sign everything. The number of forms when you’re buying a house is pretty impressive! But, once again, your agent and the Escrow Services Officer will get you through it all, one step at a time.
The next day, or possibly day after that, the transaction will be recorded at the Court House, and your agent will bring you the Keys to your New Home! A celebration is definitely in order!