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Find Your Dream Home with Pacific Realty
Consult with both banks and mortgage brokers to get the best interest rate. Do not run your credit until you decide on a lender.
Once you have submitted the appropriate documents to lender of choice, it takes about 48-72 hours. Documents required will vary between lenders but typically include: W-2s, paystubs, bank statements, investment account statements, retirement account statements and tax returns. Many lenders will require a verification of source of large deposits.
Contact one of the professional organizations to find an accredited inspector or your real estate agent can recommend one. Expect to pay about $300-$750.
This is your opportunity to ask questions about the infrastructure of the house. Be sure to learn about the operation and locations of the gas valve, water shut-off valve and the breaker box.
Ask your real estate agent if they recommend additional inspections above and beyond the standard one. This will depend on what is identified in the inspection report.
Submit a form with a list of repairs (if any) to the seller. Your real estate agent will have the form. Seller may accept your request for repairs, may give you a counter offer, or choose not to do any of the repairs.
To determine the property value, you need an appraiser, which your lender will hire. The lender will require an appraisal. The appraisal fee will vary and may be an upfront cost.
You can choose any provider for this coverage, which protects against most risks to the property. Lender will require this prior to closing. Consider bundling with your auto or other insurance.
Do so 30-45 days before your closing. Consult your lender.
Besides the expenses tied to your loan, you will have additional fees such as title services, transfer taxes and escrow fees. These fees will vary but will typically follow industry standards. Be sure to contact your lender or escrow officer with questions regarding fees.
All repairs agreed upon in the request for repair form.
Verify the property is in substantially the same condition as on the date of acceptance of the purchase offer.
A day or two after signing loan documents, the property will record. Once that happens the home is yours.
Congratulations, once the property records, your real estate agent will hand you the keys!
Michaels’ extensive knowledge of the real estate market coupled with his strong negotiation skills has contributed to his success.
(310)963-5521
145 S. Glenoaks #225, Burbank CA, 91502.