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STEPS TO A SUCCESSFUL PURCHASE

south litchfield beach real estate

Buying a home is one of the biggest investments you will ever make. It can cause both financial and emotional stress. If you have the right agent and consider the following, the journey of home ownership will be worth it in the end.  

1. Search Property Right Now: Use the search tool to browse the wide variety of single-family homes, duplexes and condominiums on the local real estate market.

2. Use the Mortgage Calculator to figure out what your mortgage payments will be on the home you want.

3. Connect to a Professional: Contact us anytime you need to know more about the area or any property that interests you. When you're ready to take the next step toward purchasing a home, we're here to help. Your Real Estate Professional should be:

  • Knowledgeable about the communities of interest to you. 
  • Aware of the complicated local and state requirements affecting your transaction.
  • Effective in multi-party, face-to-face negotiations. 
  • Highly-trained, with access to programs for continued learning and additional certifications.
  • Technology-focused. 
  • Supported by professional legal counsel. 

4. Financing

  • Determine the price range you can afford.
  • Understand the types of loans you qualify for. 
  • Determine what your monthly payment will be. 
  • Estimate the down payment and closing costs. 
  • Use our Mortgage Calculator

5. The Loan Process

  • Choose a Mortgage Lender - We will help you to select a mortgage lender.
  • Process the Application - All pertinent documentation is obtained. Fees and down payments are discussed, and the borrower will receive a Good Faith Estimate (GFE) and a Truth-in-lending statement (TIL), itemizing the rates and associated costs for the loan. You will be asked to provide certain documents to your lender in order that your loan can be processed in a timely manner.
  • Loan Submission - Once all the necessary documentation is in, your completed file is submitted to a lender for approval.
  • Loan Approval (Underwriting) - Loan approval, or underwriting, generally takes 24 to 72 hours. All parties are notified of the approval and any loan conditions that must be received before the loan can close.
  • Closing - Once all parties have signed the loan documents, they are returned to the lender. If all the forms have been properly executed, the lender sends the loan funds by wire transfer. At this point, the borrower finishes the loan process and actually buys the house.

6. Search for  the Right Home

  • Based on criteria that we establish together, we will help you find the perfect home. There are many factors to consider in selecting a property, including location, bedroom and bath count, schools and amenities.
  • We will leverage our extensive community knowledge and professional resources to research available properties, and show you the homes that best meet your needs. If you find a property that interests you through the Internet or your own research, let us know so that a showing can be arranged.

7. Make an Offer

  • Once you have found the home that you wish to purchase, we will apply or professional training and do all the necessary research to help you structure an effective offer.
  • When an offer is made, the seller will have the option of accepting, rejecting or counter-offering. We will negotiate the best possible terms for you.
  • We will draft the purchase agreement, advising you of protective contingencies, customary practices, and local regulations. Home warranty, title and escrow arrangements will be detailed in the offer. 

8. Closing and Moving In!

  • When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. 
  • You will pay the balance of your down payment and closing costs 
  • The deed will then be recorded at the County Recorder's office and you will take ownership of your home.

 

Congratulations!