10 STEPS OF BUYING YOUR HOME
1. Check your credit and get pre-qualified
- Meet with your bank and discuss options
- Get additional references and call Texas Premier Lending
- Obtain a pre-approval letter
2. Make a wish list within your budget
- Identify neighborhoods for qualities that are important to you
- Identify your ideal length of time in this home
3. Contact Sam to start viewing properties in your target neighborhoods
- Always have a price range in mind that meets your budget
- Sam will guide you through the current market conditions and help you set expectations
4. Prepare an offer with Sam’s expertise and guidance
- Sam will provide comparative market analysis that will help you make an informed decision
- An offer is not a contract, and Sam will continue to negotiate on your behalf until all parties agree and sign all documents
- Once agreed upon, all documents and monies will go to the title company.
5. Make loan application
- Review a copy of your contract with your loan officer and apply for the loan
6. Inspect the property
- Select an inspection company and arrange for a property inspection.
- You may also need a pool inspection, foundation inspection, or wood destroying insect inspection. Each property is unique and may require additional experts’ opinions.
- You will have the time specified in your contract for the option period to arrange for these inspections.
7. Appraisal and survey of the property
- The lender and title company will arrange for the property appraisal and survey, and you will be provided a copy.
- This is a good time to arrange for your homeowner’s insurance policy which will be required at closing.
8. Schedule Closing and arrange final funding
- You will do a final walk through with Sam before closing on your home.
- You will receive a copy of the closing statement to review before the closing date.
- You will need to bring a cashier’s check for all monies owed at closing – the amount will be specified on the closing statement
- Arrange to transfer/turn-on your utilities (Water, Gas, Electric, Cable)
- Check with your insurance agent to secure Homeowner’s Insurance
9. Close and Move in!
- Documents are sent to the loan company for approval and funds are disbursed.
- Legal documents will be recorded in the office of the county clerk and mailed to you
- Title company will prepare and issue the title policy, sending a copy to you and your mortgagor.
10. Maintain your new home
- You have made a major investment and maintaining your investment so that it appreciates in value is an important part of homeownership.