Financingâ€”if you are financing itâ€™s very important for you
to have your pre-approval letter before you start physically viewing
Homes.Â This will ensure that are
spending your time wisely; and a REALTOR will be able to help you better in the
process. A pre-approval letter should be provided to your REALTOR; itâ€™s needed
to submit with potential offers.
Cashâ€”if you are purchasing with Cash then itâ€™s important to
determine how much you are willing to spend.Â
Get a letter drafted from your banking representative on their letterhead
to support your cash purchasing power or just provide a copy of your bank
statement holding the cash (Caution: ensure account number is blocked out; try
your best to get a drafted letter).
Plan Escrow Deposit
So you are serious about purchasing right? Well, in todayâ€™s
market itâ€™s very important to plan an escrow deposit of at least 3% or more
when financing; and at least 5% or more with Cash.Â Plan to wire these funds to an escrow title
agentâ€™s company if your offer is accepted. Prepare to wire funds; itâ€™s the
safest and fastest way to ensure compliance to the terms and conditions of a
Get a Home Inspection
Get a Home Inspection to help you determine the status of
the Home.Â You need to know exactly what
you are getting into before settling. I encourage you to find an inspector who
uses an infrared camera to look through walls to help you determine any defects
needing correction; Iâ€™ve found this very helpful during Home Inspections.
This is a separate inspection; ensure to get it because you
definitely want to know your vulnerability to these pests.Â Inquire if the current homeowner has a
termite bond, and ask if itâ€™s transferable and how much.Â If no Termite bond exists then consider purchasing
one to protect your home from termites.
Added protection and a peace of mind is given when you
purchase a Home warranty, undoubtedly you settle on the property then something
happens that was unforeseeable, and this is where a home warranty comes in to
save the day.
Purchase a Survey
Know the boundaries of your property.Â Purchase a boundary survey, so you know where
your limits are on your property as well as to ensure knowledge of the existing
encumbrances on the property.
Prepare for Closing
A plan needs to be devise for closing.Â You need to ensure that you attend closing or
arrange for a mobile closer for each party that needs to sign.Â
Review the Title Commitment; correct errors.
Review the HUD-1which is a financial summary of the transaction.
If there were any cash needed from you for closing then
prepare to wire the remaining funds.
If you are looking to buy
or sell then select an Agent who has local knowledge, process expertise, fast
responsiveness, and good negotiation skills select James, III @ RE/MAX Premier
Properties, 321-402-6261, email@example.com, www.MyHomesInKissimmee.comÂ Â Â Â Â