90 Day Challenge Recap
90 Day Challenge Recap We’ve officially come to the end of our 90 Days to Homeowner Challenge! If you’ve journeyed with me since Week 1, you’re well on your way to knowing the ins-and-outs of buying a home. Just think of all you’ve learned: • How to confidently answer if it’s time to get out of the rent race and buy• What a pre-approval is and questions to ask potential lenders• What to put on your wants vs. needs list and how to stick to it when you’re tempted to veer• How to focus your home search by narrowing down listings to the few that meet your criteria• What to look for (and how to keep both feet on the ground) when you see a listing in person• How to know you’ve found “the one”• What to expect after your offer is accepted, how to navigate your home inspection, and SO MUCH MORE! It’s a ton of info but SO worth it if it helps you feel confident and empowered about buying. You can do this, friend. I know you can! In your 90 Day Guide, you’ll find a 2021 Checklist for Buying a Home so you can know exactly where you are and what your next step is towards buying a home. Do you have any questions about the home buying process or the next step you need to take? Send me a reply here, I’d love to help out!
Closing Q & A
Closing Day Q & A Can you even believe it? You’ve been counting down the days until closing—and it’s FINALLY here! For this week’s 90 Days to Homeowner Challenge I’ve compiled a short Closing Day Q&A on what you can expect as you roll up to the closing table (no worries…you got this!). Q: Who will be there?A: Situations vary, but you can expect some combination of these folks: Buyer (that’s you!), seller, real estate agents, closing agent/attorney, mortgage lender, and title company representative. Q: What will I do?A; Stretch those fingers and get ready to sign, sign, sign. At closing, the seller will sign ownership of the property over to you, and you’ll sign to receive possession. Q: What should I bring?A: Bring a photo ID and a cashier’s check to pay any closing costs. Your agent will tell you any other documents specific to your situation. The closing process is relatively simple, but be prepared for A LOT of paperwork. (And always, always, always ask if you have a question along the way.) The good news is once you’ve signed the last page, it’s time to get a hold of those keys and celebrate! Next week in our challenge—we’ll recap the journey you’ve been on and celebrate all you’ve learned. I can’t wait! Until then, shoot me a reply with any questions you have!
What Happens Pre-Closing
What Happens Pre-Closing After inspections are done, we wait for the mortgage lender to give us the “clear-to-close”. This means the mortgage underwriter has officially approved all documentation required to fund the loan. All that remains now is the actual closing process. Here’s what’s going to be happening while we wait for those magic words: Appraisal: The goal of the appraisal is to verify the value of the property for the lender and to protect you from overpaying. The contract is contingent upon whether the appraisal comes in at or above the purchase price. If the appraisal comes back short, we will be back to the negotiating table. Survey: The survey is a sketch showing a map of the property lines/boundaries among other things. The survey will show if there are any encroachments on the property. Title: The title company will conduct a title search to ensure the property is legitimate and find if there are any outstanding mortgage liens, judgments, restrictions, easements, leases, unpaid taxes, or any other restrictions that would impact your ownership associated with the property. Next week, we will go over what happens on closing day! And if you would like to see more of a checklist style – what happens next, reach out to me. I have a great packet that walks each buyer through this process. I love to educate my clients every step of the way. Only couple more weeks and we are done! And I’m hoping that you are armed with so much knowledge when it comes to buying a home!
Categories
Recent Posts
