∑ SHOPPING FOR A LENDER
∑ THE HOME BUYING PROCESS
∑ INSPECTIONS AND APPRAISALS
Before selecting various homes to possibly purchase, you need to have your financial ďHouse in OrderĒ. To begin this process, you need to contact a qualified mortgage lender, and either pre-qualify or become pre-approved for financing.
With pre-qualification or pre-approval, you can determine which loan program best fits your needs, and which programs you qualify for. By going through this process, you know exactly how much financing you are qualified for, and it gives you an idea of the price range home you can afford. Itís no fun to find your ideal dream home, and then realize you canít afford it. Doing your financial homework eliminates that from happening.
By consulting a mortgage lender, your monthly payment can be pre-determined most of the time, which will allow you to go ahead and budget your money before making this large investment.
Be sure that your real estate professional is knowledgeable in regards to special first-time buyer programs, or special grants, to help you get the dream home of your choice, but within the budget you can afford.
SHOPPING FOR A LENDER
A very important part of purchasing a home is finding the right lender. The agents at YOUNT AUCTION AND REALTY have the knowledge needed to direct you to many lenders in the area that can help you arrange your financing. Whether it be a direct lender, or a mortgage broker, you will receive the needed attention to this most important process.
Some of the things to be aware of when shopping for a lender:
THE HOME BUYING PROCESS
Now that you know what your spending limits are for your dream house, now you can get down to the business of searching for that perfect house, within your pre-qualified range, within your specifications. After assisting you with the financing arrangements, your YOUNT AUCTION AND REALTY Professional can go to work:
INSPECTIONS AND APPRAISALS
Upon mutual acceptance of the offering price, your YOUNT AUCTION AND REALTY Professional will work with you and your lender in arranging for the proper inspections. Those inspections being inspections conducted by a licensed Home Inspector, and pest inspections conducted by a licensed Pest Control Professional. Both are equally important, and are done at the buyerís expense, which can be paid for at closing. Please click the link below for some answers to frequently asked questions about Home Inspections.
Along with the above mentioned inspections, your lending institution will probably require an appraisal of the selected property to insure the value of the property meets or exceeds the negotiated contract price. The buyer always has the right to select the appraisal company, or if you arenít familiar with any specific company, YOUNT AUCTION AND REALTY will offer suggestions for credible appraisal companies, or you may leave it up to your lender.
You have gone through all the processes above, and now itís winding down to the final days. Your REALTOR from YOUNT AUCTION AND REALTY will make sure the closing attorney has all the necessary information to accurately close the purchase. The attorney will review with you all details about the cost of purchasing the home chosen. All costs associated with that purchase will be detailed on a formal closing statement (HUD-1 Form) and it will be explained to both buyer and seller so each will thoroughly understand their individual responsibilities regarding the closing costs. For more complete answers to questions regarding what is involved in closing costs, please click on the link below:
Upon closing, you are the proud owner of the home you have worked so hard to get. Whether it be your first time, or repeated times, buying a home is an exciting time, and YOUNT AUCTION AND REALTY wants to be there for you, from Step 1, to the end. We share your excitement after closing, and we look forward to possibly serving your real estate needs again in the future. CONGRATULATIONS.