Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You’re undoubtedly excited about the opportunity to decorate your
Home Buying Made Simple
Dated: July 17 2020
The Home Buying Process
The Buyer's Advantage
As the home buyer, your agent's commission is paid by the seller of the home in almost all circumstances. This means your representation costs you nothing
Meet with a Real Estate Professional
Discuss the type of home you're looking for, including style, price, and location.
You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience.
Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.
Search for Homes
The fun part! Your agent will schedule showings and help you find the perfect home.
Make an Offer
Your agent will prepare the offer based on the price and terms you choose.
In most cases, the contract provides you with a timeline to obtain financing, as well as time to inspect the physical condition of the home. Your real estate professional will inform you of all your rights and responsibilities related to the contract.
Negotiation and Contract
It may take a few tried to get it just right, but hang in there. You're on your way!
In Escrow / Under Contract
You and the Seller have agreed to the price and terms. The home is effectively held for you until closing.
Preparing for Closing
You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will be managing this entire process for you.
Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.
This is the transfer of funds and ownership. A title company or an attorney typically acts as an independent third party to facilitate the closing.
This article was written by Jay Cottrell, Affiliate Broker with eXp Realty LLC. The content is based solely on the opinions of Jay Cottrell and not those of eXp Realty.
Required Brokerage Information: eXp Realty, LLC | 3200 W. End Ave, Suite 500, Nashville, TN 37203 | 888-519-5113
EXPECT MORE. Growing up in East Tennessee it has been a passion of mine to help others. I also have many years of experience in building and running successful companies. As well as over 5 years of e....
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