BUY
Initial Consultation
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Establish your home needs & wish list
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Prioritize your needs & wants
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Market education & orientation
Contract Negotiation & Acceptance
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Offer acceptance by Seller or counter-offer/negotiation of Contract terms through your Agent
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Upon acceptance of all Contract terms by Seller and by you, the Contract will be executed
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Earnest money deposited
Title Work
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Your Agent will contact the title company
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Title search and examination will be completed
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Title company will issue title insurance
Pre-Approval
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Obtain pre-approval through the lender of your choice
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Formal commitment by lender to extend credit
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Credit check
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Lender commits to a specific loan amount for you to start your home search and provides a pre-approval letter to submit with offer
Inspection
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Your Agent will assist you in coordinating home inspections you wish to conduct such as:
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Termite (required by most lenders)
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Structural & Mechanical
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Radon
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Lead Based Paint (for homes built prior to 1978)
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Property Survey
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Any other inspections your Agent recommends based on the property
Closing
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Contract and financing contingencies are satisfied
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Final loan approval is obtained and documents are sent to the closing officer
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Closing process occurs when you sign all loan and
purchase documents -
Lender loans the funds
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The deed is recorded
Start Your Search
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Discuss your home needs and wish list with your Agent
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Select properties you are interested in seeing
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View properties with your Agent
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Find the right property for you
Loan Approval
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Complete mortgage application if not done previously
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Your lender will order an appraisal on the house
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Secure underwriting approval
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Satisfy any conditions
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Loan is processed
Move Into Your Home
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Contract and financing contingencies are satisfied
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Final loan approval is obtained and documents are sent to the closing officer
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Closing process occurs when you sign all loan and
purchase documents -
Lender loans the funds
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The deed is recorded
Make an Offer
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Your agent will advise you and prepare the offer
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Your offer will be presented to the seller
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Earnest money typically accompanies the offer
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Request the purchase of a home warranty in your offer if you are concerned about home systems or appliances breaking post-sale. You may also choose to purchase a home warranty if the seller declines
Renegotiate
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Your Agent will guide you through any renegotiations resulting from inspection, title or appraisal results
If you need credit repair:
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If necessary, work with Bullseye Credit Repair Service or a credit repair specialist of your choice
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Delay next steps while credit repair and credit approval is underway
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Continue follow-up with your Agent during this process
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Time for credit repair will vary. Once credit repair is complete, move forward on your road to home purchase