1. Review the Purchase Agreement:
This involves carefully going through the terms and conditions of the contract, ensuring all details align with your expectations.
2. Secure Financing and Mortgage Approval:
Work with your lender to finalize your mortgage application and ensure you have a clear understanding of your loan terms.
3. Schedule Home Inspections:
Arrange for professional inspections to assess the condition of the property, including structural, electrical, plumbing, and pest inspections.
4. Conduct a Title Search:
Verify the property's title history to ensure there are no liens, encumbrances, or ownership disputes.
5. Complete the Appraisal Process:
Your lender will require an appraisal to determine the property's market value and confirm it aligns with the purchase price.
6. Address Contingencies:
Navigate any contingencies specified in the contract, such as the sale of your existing home or securing necessary permits.
7. Negotiate Repairs and Credits:
After the inspection, negotiate any repairs or financial credits with the seller to address any issues that may have been uncovered.
8. Purchase Home Insurance:
Obtain homeowners' insurance to protect your investment and comply with lender requirements.
9. Final Walkthrough:
Conduct a final walkthrough to ensure the property is in the agreed-upon condition and any negotiated repairs have been completed.
10. Prepare for Closing:
Gather all necessary documents, funds, and identification for the closing day to ensure a smooth and successful transaction.