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Home Buying Info |
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In negotiating the purchase of your new home, there are several steps to be taken to assure that the entire home-purchase process will go smoothly and you will soon be able to be in the home of your choice Step 1: It is always wise to see a mortgage loan officer to become preapproved for a loan. That way, a McCollough Real Estate Associate can be certain to show you homes the in the price range for which you qualify. Additionally, a seller gives string consideration to the offer from a preapproved buyer, knowing that a mortgage loan amount has been approved in advance of the buyers making an offer. Step 2: In the negotiation phase of your purchase, the initial step will be to instruct your real estate associate to make a good written offer to purchase (sales contract). This offer is accompanied by a check or money order to show "good faith." Your McColoough Real Estate Associate can provide you with information as to what is considered a typical good- faith deposit. The written offer to purchase should include, among other considerations: *The amount you are willing to pay for the property *Specific financing information, including closing date *Date you will take possession (occupancy) of the property *Any contingencies, including financing, inspections, need to sell previous home, etc. *Any personal property specifically included or excluded with the real estate McCollough Real Estate Realtors utilize standard Indiana Association of Realtors Purchase and Sales Agreement so that your offer will be sure to include everything necessary and be in familiar form to the real estate community. If your offer is not accepted, further negotiations will be necessary to reach terms agreeable to both the buyer and seller. These negotiations are done through your real estate professional. Step 3: When the buyer and seller agree upon terms, the following takes place: *The Realtor immediately arranges for any inspections as described in the contract *If they have not already done so , the buyer immediately applies for a loan *At loan application, the buyer typically pays for credit check and appraisal fee *Upon acceptance of the offer, the buyer arranges to have both homeowners insurance placed on the property to become effective the date of closing. Step 4: Prior to closing, the mortgage company will arrange for title work insurance that the seller can provide the buyer with a clear title. The mortgage company also arranges for a survey if required. A closing generally will take place in the office of a title company. Both buyer, seller, and their respective real estate agents, attend the closing sign all documents. The closing agent will prepare all documents necessary to complete the sale and purchase of the home. |
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1509 West Jefferson
Plymouth, IN 46563
219-936-9797
Plymouth, IN 46563
219-936-9797
