To most people, the “American Dream” includes owning a home. And though the prospect of buying a home is exciting, it can also be a bit overwhelming. Realty Executives decades of experience can simplify the home buying journey for you.

Get pre-approved for your mortgage before you start house hunting. A pre-approval is a guaranty that you can qualify for financing to a maximum purchase price and loan amount. This means you can write a stronger Offer to Purchase. In a competitive market, that could mean the difference between acceptance of your offer rather than another buyer’s. Also, you can close on your new home sooner, easier and with far fewer worries.

Setting up a home search is quick an easy. Let Anne know of your specific needs and she will create a homefinder search tailored to for you. Once you find a home you would like to view, all showings will be set up through Anne. Anne will also explain the difference between working for you or working for the seller.

When you submit an offer, be prepared to make an Earnest Money deposit. This sum of money indicates your seriousness about the offer. All money is held in an escrow account by the broker. At closing, the amount of the earnest money will be applied to the purchase price.

A professional home inspection is an essential step in the home buying process. A professional home inspector will see beyond the “cosmetics” and will survey all parts of the house, including the structure, roof, exterior and the major systems (electrical, plumbing, heating, cooling and ventilation).

When you apply for your loan, your lender will give you a good faith estimate of your closing costs. This document estimates the amount of money you will need for closing. Some of the charges detailed are: points, lender closing feeds, mortgage and title insurance and recording fees. Then lender will also  order an appraisal of the property you wish to purchase to confirm it is adequate security for the mortgage. Once the lender has verified the information you’ve given and reviewed your credit history and appraisal, a commitment letter will be prepared. This document is a promise from the lender to make you a loan. It will include: conditions that must be met prior to closing, the term of the loan, total principaland interest rate.

Congratulations, today you will become a home owner! Remember, our full service continues right through to closing day. At the closing, you will settle all the financial details, the title to your new home will be conveyed and usually you will receive the keys to your new home. Most closings are conducted by a representative of your lender. There will be several papers and checks to sign. Read them carefully and don’t be afraid to ask questions. You need to bring to closing: