Once your offer is accepted, the buyers agent will help coordinate with everyone needed to make sure purchase requirements and all quoted time frames are met.
Earnest MoneyThis is a deposit that shows you are serious about the purchase. It is heldin the escrow account, and is non-refundable after contingencies are waived.
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Document ReviewThe inspection period will be specified in your accepted offer. During this time all property inspections, disclosures from the seller, and repair negotiations must take place.
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Mortgage ApprovalApproval for your loan will require an appraisal. Your lender will send a neutral third party to prepare a determination of it’s current market value.
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Obtain Homeowner's InsuranceHomeowners insurance is often required to obtain your loan. you may already do business with an insurance broker, or you may elect to use one recommended to you.
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Home WarrantyA home warranty id recommended for all at least the first 2 years of home ownership. The first year can often be negotiated to be paid by the seller during the escrow period.
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Title InsuranceTitle Insurance protects you the lender from the possibility that the title is not free and clear. It is typically a requirement for the loan.
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Final Walkthrough
Just before close of escrow, a final walk-through of the home will be conducted by you and the agent. This is a check to ensure the condition has not changed.
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The Settlement StatementYou will want to double check the settlement statement carefully for the various items you’ll need to pay for at closing. Have a check ready for the amount required.
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