Presented by: Dove Realty Sharon Amey Owner, Broker A Guide to Home Buying Presented by: Dove Realty Sharon Amey Owner, Broker

The Initial Step The first step for a home buyer is to select a Real Estate Agent. **** The real estate professional you select will help you to focus your search for the home that fits your needs and desires as well as your budget. The Realtor will provide countless services for you, all with the goal of making your home buying and settlement process as simple and enjoyable as possible.

Finding your Home Wants & Needs - Agent will assist you to: Focus on exactly what you want Set budget parameters Realistically determine what you can afford Agent will begin search through Multiple Listing Service

Wants & Needs of Home Write a list of general characteristics Type of home, i.e. Single-family, Multi-family, townhouse, Duplex; upstairs, or down stairs, wide or narrow Style of home & Amenities: Ranch, Pastoral, Spanish, Palladian windows, etc. Area or neighbourhood you desire to live in Price range you can afford Get pre-qualification letter from a Lending Institution Agent will begin to search Multiple listing Service(database of all land and property on the market for sale)

Make An Offer Once we have identified the home you wish to purchase, you have to write a Contact of “Offer to Purchase” It’s a standardized form used to address all important issues and to assure that both you and the Seller comply with the various laws and regulations that govern the home sale and purchase transaction. Contract is completed with contingencies, signed and submitted along with pre-qualification letter to the “listing agent”.

Contract Acceptance The Seller may accept or make a counter-offer. Once accepted, “Time is of the Essence” clause is very important (must adhere to datelines of accepted contract). Give Earnest money deposit to Agent Contingencies: Home Inspection must be scheduled Seller Disclosure/Disclaimer of Property

Mortgage Process After Contract ratification, you obtain a Mortgage loan unless you are buying cash. Lender orders Credit Report, Appraisal Verify employment, etc. All documents must be acceptable and in place before submission to underwriting (another review process)

Settlement Once the Mortgage process is completed and underwriter has approved the Mortgage Loan, you are just about ready for settlement (closing the deal). Determine Title Company who verifies property line and give title insurance. Final walkthrough of property before closing. Review of HUD-1 Settlement Statement TIME TO MOVE TO YOUR NEW HOME!