THE BUYING PROCESS
Once you have found the home you can see yourself in, there are several steps to the buying process you will go through before you can officially call it yours.
THE BUYERS GUIDE
HELPFUL CHECKLISTS: PRE-APPROVAL | HOME NECESSITIES | MOVING
Meet with one of our USA Mortgage representatives to become pre-approved. This process will not only pinpoint the price range for your search, but give you a negotiating position for when you put an offer on the house.
After you pinpoint the features you are looking for including size, style, features, location, accessibility to schools and other personal preferences, you're ready to meet with an agent.
Your agent can provide you with homes that match your criteria, but you also have full access to the MLS System through this site. Register for Property Watch to save your favorite homes, store notes and receive automatic emails of new homes that match your search. Set appointments with your Select Properties agent to tour any home in the area.
Your agent can supply information on real estate values, taxes, utility costs, municipal services, neighborhood demographics, school data, and even alert you to proposed zoning changes that could affect your decision to buy.
PURCHASE AND SALE AGREEMENT
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties.
Once a buyer and seller reach a mutual agreement on a property, a home inspector is brought in to determine if the home needs any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
Negotiations can involve everything from settling on a sales price to concessions and financing. Select Properties agents are great negotiators whose job it is to represent your interests during the entire real estate transaction.
You should already be pre-approved, but now that you're closer to the actual purchase price, you will be working more in-depth with your lender on your final loan approval. To learn more about this process, pay a visit to our Mortgage Center.
You will receive a full report detailing the property history for you and your lender to ensure there are no legal problems between a new owner and the property being purchased.
Once the offer is accepted and a closing date agreed upon, escrow allows the buyer and the seller to have an outside party ensure all parts of the contact are complete. Your agent can help coordinate the completion of all forms to the escrow company and monitor the escrow process until the completion of the transaction.
At closing, all of the paperwork is signed by the buyer and seller- both parties pay any settlement fees and the documents are officially recorded. Prior to closing, you'll receive a settlement statement outlining any fees which may apply to you. After closing is finalized and recorded, the home is yours! Enjoy!