Coordinating the dates and deadlines needed to make you home buying
process go as smoothly as possible is part of my job when I work as
your buyer's agent. Below you will find a brief outline of the sequence of
events from our first meeting through closing.
Week One:
- Consultation with Dave Elya
- Pre-qualifying for a loan with a loan officer and obtaining a pre-approval
- Prepare to tour homes that fit your requirements
Week Two:
- View homes and prioritize homes seen
Tip: Keeping notes during showings helps a great deal!
Approximately 14 + DAYS:
- Potentially make a decision to purchase
- A Purchase Agreement with the seller is then negotiated
- Terms like pricing, occupancy and a closing date will be confirmed
- I will help you negotiate the best terms and conditions
- Negotiation usually takes approximately one day or so
Your Offer Has Been Negotiated and Accepted:
Once the offer is accepted there still may be "contingencies" to fulfill for the deal to be
final. A property inspection is an example of a contingency. Once the conditions are
removed and the agreement is satisfied, you will begin the final loan process.
Your Loan Application:
The officer will take your loan application at this time. Your loan will then go to a loan
processor who will verify your sources of income and will order an appraisal, credit
report, and set up escrow. The appraisal will usually take about 2 weeks to complete. The
title company will prepare a title report. Plan on 30 days, on average, to process your
loan. If your are using VA or FHA financing, plan on 45-60 days.
During the loan process, my job is to continually check the process to make sure everything happens in a timely manner.
Time To Close On Your Home!
When your mortgage has been fully approved and all of the other details have been taken
care of, the title company will prepare the closing documents. At closing, the title
company will generally conduct the closing and distribute / collect all of the funds
required in accordance with the terms and conditions of the sale.
Unless you have previously negotiated to take possession of your home on a date
after closing, when your loan closes you will take possession of your home.
The whole process takes approximately 30-60 days depending on the type of loan
you have. In addition, there any many variables that can come into play. As your
buyer's agent, I will assist you with the process and handle all of the details from
beginning to end!
Lookin' to SAVE? Call Dave!
1-586-286-3283 or 1-800-618-0550
©Copyright 2010 - Dave Elya
No one may reproduce or copy any information contained herein for use on another website or other promotional materials without specific written authorization from Dave Elya. Anyone who chooses to violate this will be subject to legal action for copyright infringement.