houseb.gif - 2332 Bytes               Buyer Information


Renting vs. Owning
Home Buyer's Checklist




The Buying and Selling Process


BUYER

  • Decides that it is time to purchase a home.
  • Decides on a Real Estate Agent
  • Decides on the needs and wants of the new home.
  • Discusses the financial issues with a lender,
    get the pre-qualification or pre-approval letter.
  • Researches the potential "new" neighborhood
    and goes to see houses that are on the market
    in that area.
  • Finds the "perfect" home, sits down with
    their Real Estate Agent to make an offer.
SELLER

  • Decides that it is time to sell the property,
  • Decides on a Real Estate Agent.
  • Decides what they need.
  • Make the repairs that are needed on the
    home in order to get top value for home.
  • The agent will market the home
    (internet, paper, magazines, Multi Listings)
  • Reviews the offer(s) that they have received:
    decides to accept, reject or counter
    the offer.


OFFER ACCEPTED
  • Loan Application.
  • Inspections.
  • Title Search done by the settlement attorney.
  • Appraisal of the home.
  • Loan Approval.
  • Settlement/Closing Day (closing papers signed).
  • Settlement attorney takes documents to be recorded.
  • Funds are available to the seller.


Buyer moves in. Seller moves out before settlement
(unless other arrangements have been made.)