Buying a Home - Plan of Action
"Process of Buying a Home" Flowchart
|
OFFER ACCEPTED
Once the offer has been accepted the earnest money needs to be deposited into an escrow account. This is a neutral third party that holds the earnest money deposit on the home. Within 3 business days, formal loan application must be made. The lender will order the appraisal after you have made loan application.
A home inspection needs to be ordered ASAP. I have several highly competent home inspectors that do an excellent job, whom I recommend. Within 10 business days of acceptance:
- the home has to have been inspected;
- the repairs needed identified and negotiated with the seller;
- and agreement reached.
The seller will supply you with a Property Disclosure Statement which you have 5 business days to review. You will probably experience some level of buyer's remorse, everybody does. Call me. |
|
