Buying a Home with EXIT Northern Shores Realty

First ask:

What is my budget?  What are the interest rates?  How much are the property taxes?

Get with your lender:

If you are getting a mortgage you will need a pre approval letter to submit with the offer.

If you are paying cash then you will need proof of funds to submit with your offer.

Great your offer was accepted: What's next?

Offer: If you love the house you can't wait too long to write an offer.  

EMD: Is an earnest money deposit that gets held in escrow until you close. You need to provide as soon as your offer is accepted.  When you close it gets applied towards your closing costs. 

Inspection: This is an expense the buyer will have prior to closing on the house. It is to tell the buyer all about the house.

Appraisal: This is another expense the buyer has prior to close.  It is collected from the lender during the mortgage origination process.  It is to let the lender know the homes meets all the criteria for the buyers mortgage.  

Loan process: Requires a lot of communication with the lender and you will be providing a lot of documents.  It is important to say NO NEW PURCHASES ON YOU CREDIT DURING THIS PROCESS.  It will change your credit score.

After the appraisal is in and good, then the lender will pull a final credit check and if all is well, issue a Clear to Close.

At the close