One Low Fee Realty Serving Northern And Southern California

Prequalification: Once you have decided to purchase a home, your first step, if you need to borrow money to complete the sale, is to contact me to schedule a loan consultation. During your loan consultation we will determine your ability to qualify for a loan, as well as the best loan for you.

Credit Reporting: When you prequalify, we will access your credit file to ensure its accuracy and to help you determine the type of loan you for which will be eligible. At the time of application we will require a triple merged credit file and correct any inaccuracies with the Credit Bureau.

Applying: Once you have decided on a loan your next step would be to apply for your loan. By applying for your loan and obtaining an approval, it only takes a few minutes, prior to making your purchase you will be positioning yourself as a cash buyer. This important step will enhance your negotiating position with the seller and against other purchasers.; To apply online Click Here

Find Your New Home: Once you have been approved for you loan it is time to begin looking for your new home.

Home Inspections: Once you have found your new home you will want to begin the process contracting for a Home Inspector. Most Sales contracts will give you 10 days to have the home inspected. If you fail to complete the inspection on time, you may lose your ability to require repairs of the Seller.

Appraisal: The best policy is to wait until your home inspection is complete before ordering your home appraisal. If the home inspection finds fatal flaws you don't want the additional expense of the appraisal. Unlike, the home inspection, the appraisal is an opinion of value provided by an appraiser. Even so, in some cases the appraiser may also require repairs to a home to make in marketable.

Mortgage Insurance: Once the appraisal and all loan documents have been completed, received, and reviewed, mortgage insurance (MI) is requested for the loan. The borrower rarely has any decision making power in selecting the MI Company, so this information is provided for informational purposes.

Homeowners Insurance: If you use a real estate agent most of the legwork, scheduling and coordinating inspections, is done for you. However, most buyers procure the Homeowners or Hazard Insurance on their own.

Inspections

Most buyers are required to provide a termite (wood destroying organism) report and survey before closing on their new home. If these or any other inspections require repairs there will also be a final inspection to ensure all repairs have been completed.

Title Companies: Once all the inspections are complete and all loan documentation prepared the title company will prepare your closing package. It is the title company that provides the buyers with their final bill for closing and ensures the seller , realtors, and vendors all get paid.