Thinking of Buying a Home?
Here’s Your Homework
Your Name:__________________________________________________ Date:______________
Things you need to do now
- Find a mortgage broker/lender. I recommend comparing at least two lenders to see who will give you the best terms and rates. My favorite lenders can be found on my website: http://www.kristamorenorealtor.com/realestateresources
- Sign Buyer Representation agreement. I will send this to you via separate email once we’ve decided to work together.
- Send me a copy of your preapproval letter as well as the contact information for your mortgage lender.
- Do not buy anything expensive or open new credit cards. Pay all bills on time. Be very careful with your finances from now until we close.
- Establish your wants/needs in a home so I can set you up an auto search in our MLS system. You will receive daily emails if something is listed that meets your criteria.
After an offer is accepted
- Bring earnest money check made out to title company and option check made out to seller so I can get it to the listing agent and title company.
- Arrange for the home inspection ASAP. Generally it should be arranged the day after a contract is accepted. Notify me of the date/time so I can be sure it’s clear with the listing agent and seller. Clear your schedule to attend the home inspection if possible and bring your check book to pay the inspector, or ask if they take credit cards. Inspections generally take 2-3 hours. My favorite inspectors can be found at www.kristamorenorealtor.com/realestateresources.
- Continue the mortgage approval process. When your lender asks for something, get it to him asap so closing is not delayed.
- Gather home insurance quotes.
Getting Closer to Your Closing Date
- Arrange to have homeowner’s insurance to start the day of closing
- Continue the mortgage process.
- Gather funds for down payment and closing costs. These will need to be wired to the title company, so follow their wiring instructions.
- Call utility providers. Most require your closing documents from the title company before they will transfer them.
- Attend the buyer’s walk-through. This is usually the day before closing or the morning of closing.
- Attend closing.
- Consider having the locks changed in the home and new keys made. Change any security systems over to your name and set new passwords.
MOVE IN – RELAX – ENJOY YOUR NEW HOME – BE PROUD OF YOUR ACCOMPLISHMENT!