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Steps to Home Ownership
- Select a real estate professional who knows the area in
which you would like to live.
- Meet with your agent to discuss your needs, location, size
style, special features, etc.
- Ask your agent to arrange a meeting with a knowledgeable
lender to determine your buying power.
- Your real estate agent will then help you select
neighborhoods in your price range.
- Your real estate representative will preview homes, select
those which most closely meet your needs, and arrange to tour
these homes with you.
- After you have found your perfect home, it's time to make a
written offer. Your agent will prepare the offer, and present
it to the seller. Your offer may be accepted or the seller may
write a counter offer.
- After an agreement is finalized, escrow will be opened and
your deposit check will be deposited into the escrow trust
account.
- Apply for your home loan through the lender that offers the
most favorable qualifying process and loan rates. Your
representative will assist you in this process.
- You'll review the escrow instructions, each of which must be
signed by both buyer and seller. Your real estate professional
will guide you through the transaction and monitor its
progress.
- Shortly before closing, your escrow officer will notify you
that final documents are ready for signing and inform you of
the amount of money required for your closing costs.
When all steps have been completed, it's official. You're a
homeowner! |
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