DONALD KEYS

Hello David,

Keep in mind the market is moving very quickly and the home you are interested in could have multiple offers on it, but let's hope it is still available.

Pre-Step: Consult your attorney, financial advisor and or tax advisor before, during and after purchasing any property. (This is a big transaction and you want to make sure you are making the best move)

Step 1: FINANCING: There is a DIFFERENCE between a Mortgage Broker (can shop your loan around to several sources) and a Mortgage Banker (direct money lender). There are also NEW LAWS that go into effect for buyers on January 1, 2010 that will change financing for home buyers like we have never seen.

Step 2: INTERVIEW A BUYER'S AGENT to REPRESENT YOU in this crucial transaction. In order to help you interview a buyer's agent, use this link for a free report "10 Questions You Must Ask When Interviewing An Agent" http://thekeysteam.com/agent_questions.asp

Step 3: Go over your Good Faith Estimate with your lender and REALTOR to make sure you understand all of the necessary fees involved with buying a home (down payment, closing costs etc...) At this time you should have your APPROVAL in hand also known as an LSR (this goes away / changes January 1, 2010 with the new rules).

Step 4: Identify the property and submit your OFFER TO PURCHASE.

Step 5: Negotiations - Your BUYER'S AGENT (REALTOR) should be asking you questions and negotiating on your behalf.

Step 6: OPEN ESCROW & UNDERWRITING - Contract is submitted to title company and all necessary documentations is presented to the underwriter(s) for FINAL APPROVAL.

Step 7: INSPECTION PERIOD - You will want to investigate ANYTHING that is important to you during your inspection period...

David, as you can see there are several steps (INCLUDING MANY that I did not type here).

If there are any other questions you have or if I can be of service just let me know.

DONALD KEYS
623-337-8965 Ext.1
http://wwwTheKeysTeam.com
REALTY EXECUTIVES
where the experts are™ - Tue Dec 15 2009, 05:43