Here is a simple flowchart for what to expect during your Home Buying experience.
| Pre-Qualification |
| Determines purchasing power; defines price range |
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| Needs and Wants |
| Set priorities for size, location, style, features |
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| Select Search Areas |
| Preview information on available homes |
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| Review Comparable Sales and Tax Data |
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| Tour Selected Homes with Agent |
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| Writing an Offer |
| Strategy, negotiation, financing, contingencies, inspections |
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| Mortgage Application |
| Requires credit check, home appraisal |
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| Settlement Schedule |
| Deadlines for inspections, approvals, insurance, settlement |
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| Professional Home Inspection |
| Buyer & Agent should be present |
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| Select Settlement Attorney (If Applicable) |
| For title search, title insurance, settlement statement |
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| Mortgage Approval |
| Takes approximately two to four weeks |
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| Obtain Homeowner Hazard Insurance |
| Lender requires |
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| Final Walk-through Inspection |
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| SETTLEMENT – CONGRATULATIONS! |
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