1. Mutual Interview:

• buyer needs and wants
• agent customer relationship
• pre-qualifying and finance options
• process overview

2. Market Education

• preview homes - MLS allows me to show you every home for sale
• learn market values
• clarify priorities
• interview mortgage officers
• choose an attorney

3. Purchase Offer

• "good faith" deposit (usually 1%)
• amount offered
• terms
• financing
• time frame
• accessories
• occupancy

4 Binder/Accepted Offer

• "good faith" deposit (cashed)
• necessary paperwork to bank and attorney
• arrange and accompany inspections (engineer, radon, pest, well, septic, lead paint)
• finalize lender and program

5. Contract (Ten days from acceptance of offer)

• legal commitment to purchase
• balance of down payment due upon signing (usually 4% of selling price)
• apply for loan if not yet done
• attorney orders title- this can save you time and anxiety and there should be no fee if the property does not close

6. Loan Commitment

• lender guarantees financing
• attorney orders survey if one is needed
• bank attorney reviews documents (title, survey, certificate of occupancy)
• assures any conditions are met

7. When we have a closing date

• NOTE: I have no control over the closing date. If it is critical to you, let your attorney know immediately.
• utilities - you’ll save money if they are not shut off (change name instead)
• choose and purchase homeowners insurance
• pre-closing inspection: make sure the house is still there and everything is in the condition expected
• call attorney for required certified funds

8. Settlement

• attorney will explain all details
• exchange title of property
• buyers become owners

Dawn Vacek, Associate Broker
Real Estate Counselor     (845) 562-3662