Buying a Home
a home can be a complicated process, especially if it is your
first time. Below is an outline that may be of some assistance
in making sense of the myriad of steps..
a very good place to start the home buying process, even before
you start looking for a house. By looking at your credit report
before you apply for a loan, you will know what the credit
companies have to say about you, which can sometimes be a shock
for a homebuyer in the middle of the loan process. Make sure there
is nothing on your credit report that you don't know about, and
if there is a problem, you should have time to straighten it out
before you are committed to buying a house. You do have the right
to contest problems on your credit report by working out any problems
with the vendor or creditor. At the very least, you have the right
by law to write your side of the story which must appear in your
credit report. You can receive a free copy of your credit report
from Equifax by calling (706)549-2321.
the perfect way to find out how much of a home you can afford
before you fall in love with a home out of your price range. By
visiting a loan officer at a mortgage loan institution, which
Cindy can help you find, he or she can tell you what price range
of home they will lend you money for and how much money you will
need to have up front at closing. Be prepared to give them detailed
information regarding your financial history such as employment
history, salary, other income, outstanding loans, etc. Since you
do not have a contract in hand at this point, they will give you
what is called a good faith estimate which may differ somewhat
from the final numbers on your loan.
Now that you
know how much of a house you can afford, you will not want to
waste your time visiting and getting excited about homes out of
your price range. Cindy knows that your time is valuable and will
do the best job possible in finding the home that fits both your
style and your budget.
you've found your home, it's time to make an offer. Cindy should
be able to help you determine what comparable homes in the area
are costing. When you've decided on the amount you are willing to
pay for the home, Cindy will draw up an official CENTURY 21®
contract that should protect both the buyer and the seller and
present this along with your earnest money to the seller. The
earnest money shows the seller that you're serious and may be
forfeited if you fail to live up to your part of the contract. If
the seller accepts your offer, then the contract is official and
the loan process starts immediately. If not, the seller will
counter-offer with another price. This will continue until you
both agree on a price, or you have the option of withdrawing your
offer at anytime if there is no agreement reached.
Your Previous Home
waited to sell your home until you've found a new one, you may
want to sign a contingency agreement for your new home saying
that you must sell your current home before you will be able to
buy the new one. Please be aware, though, that this may not be
agreeable to all sellers, and may lessen your chances of getting
the home for the price you would like. When you do decide to sell
your home, please let Cindy know as soon as possible so that she
can get it on the market. Cindy has an extensive network of buyers
and sellers, and has won many awards
for selling homes. Cindy also has access to services such as the
Multiple Listing Service and the World Wide Web to advertise your
home for sale to the widest possible audience.
process can be complex and stressful, but armed with a good realtor
like Cindy and a good loan officer (which Cindy can help you find),
your problems should be minimized considerably. Several terms
you should know about are below:
rate mortgage (ARM)
Mortgage Insurance (PMI)
is where you make one final visit to your soon-to-be new house
before you close. You will want to make sure everything checks
out to your satisfaction and this is where any final questions
need to be addressed. This usually takes place immediately before
your closing or possibly a day or two before closing.
where all of your efforts payoff. Before you can close, you will
need a good real estate attorney - which Cindy can help you with.
You will need to bring to closing a year's pre-paid homeowners
insurance from your favorite insurance company, and a cashier's
check for the amount you will owe in closing costs and down payment.
Depending on your specific circumstances, this amount can be practically
anything, so you must get the totals from the closing attorney.
This information should probably be available from your attorney
by the day before your closing.
signed all the paperwork at closing, they will hand you all the
keys for the home and you can go straight from closing to check
out your new abode.
job is not finished at closing, so she will be glad to help you
get in touch with appropriate people such as movers, landscapers,
painters, carpenters, etc.
can answer more of your questions if you send
her e-mail. Or, you can give her a call at (706) 540-5179