During our initial consultation, we will discuss your needs and wants in a property, Information About Brokerage Services, the Buyer's Representation Agreement and how we will communicate during the home-finding process.
Next, I will assist in locating sources of mortgage loans and help you examine how much you can afford and how much you want to spend.
Once we have determined homes that fit your criteria and budget, I will organize a property tour, scheduling appointments to see homes in person. If you're not in the area, I can also plan property tours via video.
You've narrowed it down to one home and are ready to submit an offer. We will discuss the many aspects of writing an offer in Texas while putting together the best offer with the greatest change of being accepted.
Once the seller has received the offer, one of three things can happen: the seller rejects the offer, accepts the offer or makes a counter offer.
When you and seller have agreed upon the terms and both parties have signed the contract, the contract is now executed.
During the Option Period, you will hire a home inspector to provide you with an evaluation that covers a home’s condition including the electrical system, plumbing, roof, foundation along with additional structural items. If any items arise on the home inspection that are an issue, we will either negotiate for repairs or closing costs in lieu of repairs. If you and the seller come to an agreement on how to handle the issue, an amendment will be signed.
Also during the Option Period, you will research and choose a home insurance company. This information will need to be provided to your lender.
While we are dealing with the inspections and potential repairs, the mortgage company is ordering an appraisal, sending the loan to underwriting and if all goes as anticipated, you receive loan approval.
The title company will also be working on your file, receiving your earnest and option fees, completing the title search, providing a title commitment, and ordering a survey if necessary.
Prior to the closing date, you will arrange for the utilities to be transferred into your name. This information will be provided on the seller's disclosure you signed when submitting your offer.
The title company and the mortgage company will work closely during the entire process making sure the numbers balance for closing.
Once the numbers have been balanced, you will either wire the funds to the title company or deliver a cashier's check to the title company a day before closing.
The closing of the transactions typically occurs at the title company where you will sign the necessary documents provided by the title company and the lender if there is a mortgage.
When the title company has received notice from the lender that the transaction has "funded" (all parties have received their monies), you will receive your keys.