Your lender will need a complete picture of your financial situation to help determine how much home you can afford. You and the loan officer will fill out the Uniform Residential Loan Application, a document that asks in-depth questions about you, your income, your assets and liabilities and your ...
While finding the financing package that best suits your needs can be a complicated process, your REALTOR® can help you find the financing method that works for you.
Remember that financing options are affected by local real estate and banking practices and in some areas by local law.
We review ...
Application review
At the application, the lender will ask you some basic financial questions about your current income, debts and assets available for investment in your new home. The lender will review your credit report, along with any verification needed from your bank, landlord or employer. After the ...
Home financing is available from mortgage companies, banks, credit unions and others. Each will have its own rules, rates and fees. When you compare financial institutions, be sure to look for variations in the way mortgages are offered. You will want to research the various local lenders ...
In considering an offer, your agent should give you an estimate of net proceeds showing how much cash you’ll receive at settlement. An offer that looks good on its face may have hidden costs. For example, when you’re presented with two offers at once, you may discover you’re ...
Negotiating tips
You may be in a strong bargaining position to make an offer below asking price if, for example, you are paying cash, or have been pre-approved for a loan. Conversely, in a “hot” seller’s market, you may have to offer above the asking price to beat other ...
Your written offer may include, but is not limited to, the property’s address and legal description, sale price, terms, earnest money, expiration date of the offer, prorating (adjustments) of utility bills, real estate taxes, insurance, contingencies, repairs and any other terms that you deem important.
Earnest money
Earnest money is ...
At closing you will get:
Closing is the formal meeting where ownership of the property is transferred from the seller to the buyer.
Also at this time, the buyer’s loan is finalized, so technically there are two closings. The meeting is usually attended by the buyer and seller, their respective Real Estate Professionals, the ...
Closing is the culmination of the offering/buying process. If you haven’t yet met the seller, you are likely to at closing. If you wish, hire a real estate lawyer to represent you at closing. The attorney fee will be paid separately by you. Now is ...