When deciding to make a real estate purchase you really want to be knowledgeable about the process. Those going through the process without some knowledge may find themselves wishing they had taken the time to educate themselves. For instance, after you make an offer and it is accepted you may find out the seller is willing to sell the washer and dryer. If you had stipulated that they leave it they may have still accepted your offer. What a bummer that now you must pay for it. When considering homes for sale you will also need an agent to work with.
An agent is helpful during the house hunting process. An agent will know about new listings right away. Your agent will let you know when something comes up that fits your specifications. They will set up the meetings and maybe even fill your weekends or evenings with prospects. When you find the one you want your agent will help you put together an offer. They may even be able to tell you valuable information about when the home was last sold, and for how much. This can help you decide how motivated a seller is.
Once your offer is accepted you will have a set amount of time to get an inspection done on the property. There are many inspections you can choose to have done. If any of these inspections come back with information that you find unsettling you can back out or ask the seller to pay for repairs. Beware, some sellers will not do repairs. All homes will have something wrong, but sometimes you will have to decide if whatever is wrong is a deal breaker. If you choose to walk away now you can cancel the contract and get back any good faith deposits. You may encounter a home that shows its true colors during inspection. Take heart there are other homes for sale.
If you must begin again your agent will begin finding more properties to look at. If you go on with the sale you will have about thirty days of wondering if your home sale will go through. There will be a credit check, and the closing date won't come fast enough as the bank does paperwork and does it's best to be sure the home has a clear title. They will also be busy doing an appraisal to be sure the home is worth what your loan will be. On your closing date most underwriters will make sure you indeed still have your job before you sign. You will sign your name more times than you ever have. You will put down any money down agreed upon minus any good faith amount. Your family will be done looking at homes for sale. You will be on your way to being a homeowner.
*Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to
change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for
our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
2001 Century 21 Real Estate Corporation ? and sm trademark of Century 21 Real Estate Corporation. Equal housing opportunity. Each office is Independently Owned and Operated