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HERE'S A LIST OF TIPS
AND A FEW THINGS YOU CAN EXPECT WHEN WORKING WITH R PARKER PROPERTIES
ON PURCHASING A PROPERTY.
• Learn and
assist you in defining your needs, desires and goals as a buyer,
and help determine your most important considerations in selecting
a property.
• Give you information about agency choices
and services available to you.
• Organize the property
buying process; guide you through it and save you time.
• Search for the right property, always accompanying you
to property showings and represent your interests FIRST.
• Explore all financing possibilities with you and provide
you with a list of lenders.
• Provide you with a comparative
market analysis to make an informed purchase decision.
•
Disclose all known information about properties and areas that
interest you.
• Assist in preparing offers, strategize
your offer to the seller, and negotiate on your behalf.
• Ensure confidentiality of your personal client information.
• Monitor the closing process step-by-step, and make sure
you're always informed.
• Provide lists of inspectors
to review the condition of the property.
• Act as
your advocate in the most professional manner possible.
• Treat all parties fairly and honestly.
THE PROPERTY BUYING PROCESS
1. FIRST AND FOREMOST, MEET WITH A LOAN OFFICER
• By sharing income and other family financial information,
you will know the price range for which you are qualified
• You will learn of the many loans available to buyers
in today's market
• Obtain a pre-approval letter
• Obtain a truth in lending letter explaining the costs
of borrowing money
• Learn about closing costs
2. NOW FOR THE FUN STUFF. START LOOKING AT PROPERTIES
WITH YOUR REALTOR®
• When possible,
all decision-makers should visit the various properties
• Always be candid with your Realtor® -- it will help
them understand your particular needs and desires and enable
them to select properties you'll want to see
3.
OFFER PREPARED
• Your Realtor® should
provide you with a comparative market analysis on the property
or properties of your choice in order to assist you in making
an informed decision
• Your Realtor® should go
through the contract with you and complete your offer
•
Negotiations will proceed until both buyer and seller agree
on all terms and sign
• All documents will be sent
to the title company where title commitment and property tax
information is ordered
4. LOAN APPLICATION
MADE
• Give your loan officer a copy
of the contract and apply for the loan
5. PROPERTY INSPECTION TAKES PLACE
•
Select an inspector and arrange for both a general inspection
and wood-destroying insect inspection
• Your Realtor®
also can provide information about other environmental assessments
6. ORDER APPRAISAL AND SURVEY OF THE PROPERTY.
• The lender and title company will make arrangements
for the property appraisal and survey
• Buyer will
be provided a copy of the Title Commitment Letter
•
Buyer will make arrangements for property owner's hazard insurance,
and arrange for the insurance agent to talk with the closing
officer at the title company
7. PROPERTY CLOSING ARRANGED.
• Buyer
receives a copy of the closing statement for review prior to
closing
• Buyer does a final walk-through inspection
of the property
• The Realtor® arranges a closing
date and time with the buyer and title company; seller's closing
is also arranged
• Buyer brings a cashiers check for
all closing costs and the balance of the down payment
8. CLOSING IS FINISHED. NOW WHAT?
• Documents are sent to the buyer's loan company
for approval and funds are disbursed
• The title company
receives and funds all money from the loan company; payment
of any accrued expenses in connection with the closing are due,
including taxes, attorney's fees, professional real estate fees
and title company fees
• Legal documents will be recorded
in the office of the county clerk and mailed to the buyer
• Title company prepares and issues the title policy,
and sends it to the loan company and new property owner |
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