THE HOME BUYER TIMELINE

STEP 1. HOME BUYER CONSULTATION - THE VERY FIRST STEP TO TAKE IS TO GET WITH A LOCAL REAL ESTATE PROFESSIONAL. LOCAL REALTORS HAVE MANY IMPORTANT RESOURCES TO OFFER YOU.

STEP 2: SELECT A MORTGAGE LENDER - IT’S IMPORTANT TO KNOW THAT YOU CAN SHOP AROUND TO FIND A LENDER THAT WILL OFFER YOU THE BEST RATES.

STEP 3: LOAN PRE-APPROVAL - A PRE-APPROVAL WILL GIVE YOU A GOOD IDEA OF HOW MUCH YOU CAN QUALIFY FOR.

STEP 4: HOME SEARCH - THE FUN PART BEGINS! REFINE YOUR HOME SEARCH & GUIDE YOUR REAL ESTATE AGENT WITH YOUR NEEDS, WANTS AND LET THEM KNOW YOUR DEAL BREAKERS. TIP: MEASURE YOUR FURNITURE & TAKE A MEASURING TAPE WITH YOU.

STEP 5: MAKE AN OFFER - YOUR REAL ESTATE AGENT WILL HELP YOU WRITE THE OFFER. EARNEST MONEY IS TYPICALLY 1% TO 2% OF YOUR HOME OFFER.

STEP 6, 7 & 8: ACCEPTANCE OF CONTRACT. BE PREPARED TO DELIVER YOUR EARNEST MONEY & SCHEDULE THE HOME INSPECTION (THIS IS NORMALLY AN OUT OF POCKET COST)

STEP 9: NEGOTIATE HOME REPAIRS. REVIEW THE HOME INSPECTION REPORT WITH YOUR REAL ESTATE AGENT TO DETERMINE WHICH REPAIRS ARE IMPORTANT TO YOU.

STEP 10: HOME APPRAISAL - YOUR MORTGAGE LENDER WILL ORDER THE APPRAISAL. THIS IS AN OPINION OF A HOME’S VALUE DETERMINED BY A PROFESSIONAL. THE LENDER WILL ONLY LEND ON WHAT THE HOME IS APPRAISED AT.

STEP 11: OBTAIN INSURANCE QUOTES - YOUR LENDER WILL REQUIRE HOMEOWNER’S INSURANCE IN ORDER TO ENSURE YOUR PROPERTY IS PROTECTED. REMEMBER YOU CAN SHOP AROUND TO GET THE BEST DEAL.

STEP 13: PREPARE TO MOVE. SET ASIDE ITEMS THAT YOU WON’T BE TAKING WITH YOU AND THINK ABOUT HAVING A YARD SALE OR DONATE THE ITEMS TO A CHARITY. GET ORGANIZED. PACK BY ROOMS & LABEL BOXES. NOTIFY ALL IMPORTANT PLACES THAT YOUR ADDRESS WILL BE CHANGING. PACK A SUIT CASE WITH YOUR ESSENTIALS.

STEP 14: FINAL WALK THRU - It provides an opportunity for home buyers to inspect the house before the official closing. The final walk-thrU allows the buyer and their real estate agent to go through the house room by room.

STEP 15: ATTEND CLOSING - IF YOUR NAME IS ON THE LOAN OR TITLE YOU NEED TO BE PRESENT AT CLOSING.

DO:

Save your money! Your financials will be checked multiple times during the process.

Promptly provide all documents (all pages) requested by your Mortgage Loan Originator and Processor to speed up your closing. Don’t mark out anything.

Respond to any requests for information from your Mortgage Loan Originator as soon as possible.

Continue to make all payments on time and in full.

Contact your insurance agent early in the process and inform them of your new home purchase.

Be prepared to explain/account for all non-payroll deposits into your bank accounts.

DON’T:

Don’t apply for new credit of any kind or co-sign on another person’s loan.

Don’t make large deposits into your bank account. Your down payment should be seasoned (sitting in your account for at least two months).

Don’t charge a lot on your credit cards – your credit will be checked again right before closing.

Don’t buy a new car.

Don’t spend your down payment.

Don’t buy furniture yet (don’t make big purchases while in the loan process).

Don’t quit your job or change jobs that could affect your employment or income.

Annie Solis

Email Address

Phone Number

C: 478-550-8303

O: 678-635-8877

SouthernClassicRealtors.com

P.O. Box 6565

Athens, GA 30604