Homebuyer Tips2017-03-16T15:37:35+00:00

HOMEBUYER TIPS  | FACTFINDERS AND FOXXVIEW

locally owned and operated, full service real estate title and settlement company

1) Hire a Buyer’s Agent

  • A buyer’s agent will represent only you and have a fiduciary responsibility to look out for your best interests.
  • Buyer’s agent may ask you to sign a buyer’s broker agreement, but it is the seller who pays the commission.
  • Interview agents until you find an agent you trust and with whom you feel comfortable.

2) Get PreQualified / Preapproved

  • Order a free credit report online and fix mistakes, if any.
  • Ask your agent for a referral to a mortgage broker, but also compare rates offered by your own bank and / or credit union.
  • Ask the lender to give you a loan pre-approval letter, which means they verify your income and pull a credit report.
  • Determine your maximum loan amount, but choose only a mortgage type that you understand and a payment level with which you feel comfortable, which may very well be less than the maximum for which you are approved.

3) Comply With Lender Requirements

  • Lenders may ask for additional information.
  • Do not make home buying mistakes such as altering your financial situation while in escrow.
Financial planning consultation

4) Order Homeowner’s Insurance Policy

  • Order your homeowner’s insurance early!

5) Conduct Home Inspection

  • Hire a reputable home inspector. Ask your Realtor who they recommend.
  • Bring a home inspection checklist with you.
  • Attend the home inspection.
Builder And Inspector Looking At New Property

6) Do Final Walk-Through

  • Do not pass up doing a final walk-through.
  • Inspect the property to make sure it’s in the same condition as when you agreed to buy it.

7) Sign Loan/Escrow Documents and Deposit Funds

  • Bring a valid picture ID and a second ID.
  • Bring a certified check payable to escrow.
  • Consider asking your bank to wire the funds to escrow and know what your settlement company requires.

8) Close Escrow

  • Your property deed, seller’s reconveyance and deed of trust will record in the public records.
  • You and your agent will be notified when the title is recorded.
  • After recordation, unless your contract specifies otherwise, the property is yours.

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