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Where can down payments come from?
They
can come from several sources; your savings account and/or the
proceeds from the sale of the home you already own are the most
common. However there are other possibilities, which can include
an outright gift from parents, borrowing against your life insurance
policies, or selling stocks & bonds.
What
is my next step?
Decide
the features and amenities you are looking for in a house. Review
the features in your present home as a start, or have every family
member make a list, compare the lists and reach an agreement.
You need to establish priorities, select elective items, throw
in some frills and make a decision on items you'll compromise.
How
does the search process take shape?
Once
you determine the neighborhood, which features you want and can
afford, I will begin your search efforts. There are several sources,
such as the Internet, the multiple listing service and my constant
efforts through the different agents in the community, family,
and friends of homes that will possibly be coming on the market
in the near future.
After
I find a home, what's next?
Before
you make your offer in writing, you must read every detail of
the contract very carefully and if not understood please ask questions.
Once you have signed the offer it is submitted to the seller.
What
do I do after the offer is accepted?
After all the contingencies have been removed and you have received
your loan approval, you can make definite moving plans. The
buyer is entitled to a final "walk-through" to ensure
that the property is in the same general condition as it was the
day of contract acceptance. Next, you are ready to close, signing
all the documents, paying the balance of the down payment, and
your closing costs with a cashier's check. All the paperwork is
taken care of by the title company, the seller is paid the proceeds
of the sale and the keys are given to the buyer! Congratulations-
you now have your own home!!
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