Now that you've found your desired home, its time to make an offer! Placing an offer is a very strategic process. Currently, we're operating in a Sellers Market. A Sellers Market predicts a high demand with a low supply. Therefore, expect competition.
Schedule a Home Inspection & Evaluate Results
Buyers should always elect to have a home inspection conducted on the home of choice prior to purchase. Depending upon the results, one should also negotiate items to be repaired or compensated for.
Complete Mortgage Application
Once the buyer becomes under contract with the seller (seller accepts the buyers offer) the mortgage application process is initiated by the lender. A list of documents will be requested from the lender for the buyer submit. An appraisal is ordered.
Identify a Home Insurance Agency
Buyers have the option of selecting a home owners insurance provider of their choice. Provider info and estimates are submitted to the lender.
Obtain a Title Search and Title Insurance
The title company will conduct a thorough title search on the property. All back taxes, liens and/or judgments will be cleared prior to settlement. The goal is to deliver a "free" and "clear" deed to the buyer. Title insurance is also provided. There are two types: Mortgage Lien Holder and Homeowner. Be sure to get both.