2) Find or have your agent find you the home
3) Make an offer
4) Seller accepts
5) Do home inspection
6) Package is submitted to the bank, offer , pre approval, sellers hardship letter, all seller financials (ask your agent about this )
Have agent stay in contact with the listing agent and or negotiator hired to follow up
7) Bank sends an independent agent out to do a BPO (broker price opinion)
8) The bank accepts, rejects or counters the offer. If accepted you must close in 30-45 days or less.
9) your financing bank does an appraisal
10) if all goes well......... you close or the property forecloses and all involved lose big time :)
There are more detailed steps this is just a basic over view ....a good buyers agent will guide you through all this stuff.
Call me to discuss your financing options.
Carrington Mortgage Services