Buying steps for real estate

Budget and view properties

1. Review Buying Process, determine property wants needs and desires
2. Select Mortgage Lender, determine Budget and obtain Pre-approval letter
3. Preview Properties

Negotiation: from offer to contract

4. Select Property to make an offer
5. Review contingencies: Financing, Appraisal, HOA or Condo Docs, Inspections, etc, and select Title Company
6. Finalize offer, sign and provide escrow check, then agent sends to listing agent
7. Seller either accepts, rejects or counters and negotiations ensue until all agreed
8. Sellers/Buyers accept, sign and initial any/all changes and contract is ratified/binding

Between contract & closing

9. Loan application made & home insurance procured
10. Inspections done
11. Negotiate repairs
12. Order Appraisal
13. Title company sends out instructions and orders property abstract
14. Obtain appraisal & negotiate if below contract price
15. Order pest inspection
16. Title Insurance commitment
17. Title Examination sent to lender for approval and sends closing fees
18. Lender finalizes loan file approval
19. Lender prepares and sends closing disclosure to buyer
20. Lender sends loan documents and wires funds to Title company
21. Contact utility companies & conduct final walk-thru

Closing

22. Settlement Day where seller and buyer sign all required documents, and buyer receives keys
23. Title company has property recorded at County Courthouse and disburses funds
24. Buyer is now property owner
25. Time to move in and Celebrate!