1. THE SIT DOWN
The buyer sits down with Christopher and expresses his/her wants and needs, style, location, and their wants/needs in their home. While this transaction is occurring, there is a fluid and open discussion of price and location. There’s the famous lyric by The Rolling Stones that states “you can’t always get what you want but if you try sometime you find, you get what you need”. Christopher’s job is to take your budget and find a home that has what you need, including your preferred location.
No matter how little or how much your yearly estimated income is, you must get pre-approved. To get pre-approved you must contact a licensed loan officer. This loan officer does not have to be in your state or country must be licensed to work in your state. Being pre-approved means you have passed the approval process and therefore are likely to be immediately granted the loan when they apply.
Once you find your dream home, it’s time to negotiate an offer. The seller either accepts or rejects the offer with a counter. If the offer is to low, the seller may not counter offer. The two parties negotiate through their respected agents until an agreement on price, closing date, and other home contingencies have been reached. (Avg length 72-120 hrs).
4. HOME INSPECTION
Once the contract review period has ended successfully, it’s time for an home inspection. Sellers generally has 10 days to get a home inspection from time of conclusion of attorney review. Home inspection generally last 1.5-4 hours depending on size and condition of property. All parties involved in the buyer’s side of the transaction will receive of copy of the report and credits and repairs are then negotiated with the seller if deemed necessary.
5. APPRAISAL & COMMITMENT
The lender orders the appraisal for the property to assure the property is being sold for fair market value. The appraisal is usually completed within five days. If the home appraises and appraisal contingencies are satisfied, the lender puts the loan into underwriting and a commitment is produced for the buyer.
6. FINALIZE ALL CONTINGENCIES
All parties involved assure all contingencies have been satisfied, signed, and accepted. Final wiring instructions are provided same day of closing.
7. CLOSING TABLE
Buyer closes their purchase at their attorney’s office or their title agency. No longer than 48 hours before the closing, the buyer takes their last visit to the property where they do their final walk-through throughout the interior and exterior of the homes ensuring all items have been removed. Be sure all items have been repaired that sellers agreed to and all appliances/items that are included in sale are still in the home. Lastly, it’s time to sign the closing documents and take the keys to your new home.
Work With Christopher
Call Chris Today to schedule an appointment or view a home
Christopher Polhemus - The Leonard Group
509 Main Street
Toms River NJ 08753
509 Main Street
Toms River, NJ 08753