Finding the Right Property

1. Understanding MLS listings
2. Determining your price range
3. Get pre-qualified with the mortgage broker
4. Determine what type of property to look for
5. See many listings (Use Brian’s Gas)
6. Narrow the search (List Pros & Cons)
7. Do the Numbers (will the house fit your budget?)

Make an Offer

1. How do you determine what to offer?
2. Negotiations
3. Accepted offer- Buyers Broker draws up offer
4. Offer Signed and deposit down in escrow
5. Seller’s lawyer orders Title Search
6. Survey is reviewed/ordered

Inspections (Done in 2 weeks)

1. Structural
2. Water tests
3. Septic Dye Tests
4. Radon Tests

Apply for the mortgage (done in x weeks)

1. Bank or Broker?
2. Apply for Mortgage
   
   
   1. Fill out Forms, Pay for application and appraisal
   2. Credit Check
   3. Asset Verification
   4. Employment Verification
   5. Understand the Closing Costs
   6. Pay to Lock in a Rate
   7. Bank Appraisal of property

Go to Contract (don­e in 3 weeks)

1. Seller’s lawyer draws up contract
2. Buyer’s lawyer reviews and Amends Contract
3. Sellers sign contract
4. Buyers sign contract
5. Buyers put down half of the down payment into seller’s lawyers escrow acct.

Close Property

1. Title search is Done
2. Mortgage is Approved
3. Buyer’s Lawyer and Bank/Broker Schedule the date, time and place
4. Final Walk through property prior to closing
5. Buyers, Sellers, Lawyers and Brokers meet to close
6. Papers are signed, Buyer puts down the rest of the money and closing costs
7. Title is transferred, Keys and handed over
8. Electric account is notified within 24 hours