Making the Offer
We will need a pre-approval letter from a mortgage lender (or a proof-of-funds if buying in cash) to send with the offer.
We will discuss how much to offer as the purchase price and other contingency items based on the situation.
If your offer is accepted, you’ll need to put down an deposit, typically within a few days. This is typically 1-2% of the purchase price and goes toward your down payment at closing.
PART TWO
Offer is Accepted
Yay! As soon as your offer is accepted, we will enter the conditional period. This is your chance to have inspections done, get insurance quotes, and begin the mortgage loan process. You’ll also need to wire the deposit to the our office ASAP. If you cancel during the conditional period based on one of your subjects in the contract, you will receive your deposit money back.
PART THREE
Inspection Results
Once the home inspection report comes in, we may need to negotiate any repairs with your seller. Keep in mind that a mortgage lender will require certain items to be clean on the 4 point inspection.
PART FOUR
Obtain Financing
If you are getting a mortgage, your loan application needs to be started within 5 days from the executed contract date. During your loan processing, it is VERY IMPORTANT not to make any major job changes, major purchases, or open new credit cards or lines of credit, as any of these activities could alter your qualifications.
PART FIVE
Obtain Insurance
In addition to your financing, you’ll need to obtain home insurance. Don’t worry – we know this sounds like a lot but we help people buy and sell homes every day. We’re here to walk you through this process step-by-step.
