PURCHASE PROCESS SUMMARY
GET PRE-APPROVED BY A LENDER
List of Preferred Lenders & Mortgage Brokers and General Lending Overview
FIRST MEETING (Zoom or In-Person)
Process Overview, Review Offer Language, & Sign Agency Agreement
Sign - Definitions of Working Relationships
Sign - Exclusive Right-to-Buy Contract
Review - Contract to Buy & Sell Real Estate Contract
SEARCH FOR A PROPERTY
Make an Offer on your Dream Home
SUBMIT Contract to Buy & Sell Real Estate Contract
… UNDER-CONTRACT: Congratulations!
You will start receiving communications from our Transaction Coordinator
TC: handles ALL non-negotiating aspects of the contract.
Drop off Earnest Money Check at the Title Company within 24-48 hours of going under-contract.
Promptly Review & Sign Shared Documents from Seller when provided
Seller’s Property Disclosure
Lead-Based Paint Property Disclosure (*Homes built prior to 1968)
Square Footage Disclosure
Wire Fraud Disclosure
Affiliated Business Arrangement Disclosure Statement
Closing Instructions (Version 1.0)
TRID addendum to Exclusive Right-to-Buy
Provide all required documentation to lender promptly
Book home inspection prior to the Inspection Objection Deadline
Attend Inspection (optional) →First Time Homebuyers are encouraged to attend at least last 30 mins.
Review Inspection Report
Submit an ‘Inspection Objection’ if there are unsatisfactory items
Withdraw ‘Inspection Objection | OR: Agree to Inspection Resolution
*Home Warranties can also be a good solution for items that need to be fixed
(If Applicable): Review Homeowner Association Documents
Apply for Home Insurance - ask your lender for their favorites!
Wait for Lender to Order/Receive the Home Appraisal Report
Review final Loan Documents prior to Loan Objection Deadline
*Buyer’s Earnest Money goes HARD after the Loan Condition Deadline.
*Closing Disclosure MUST be received 3 full days prior to Closing Date - BUYER RESPONSIBILITY!
*Errors in the CD, if corrected, will restart the 3 day clock once the updated CD is received by Buyer.
Wait for Lender to tell you that you are ‘Clear to Close’
CLOSING DAY! Review the TD-1000 Form with Agent
Definitions of Working Relationships
New Buyer Form
Lender Contact Info
VIEW PROPERTIES ONLINE
Online Search Portal
Winter 2019 Issue
Erin's Contact Info (720)588-0579 | ErinRose.RealEstate@gmail.com