Margaryta Booth Principal Broker

King Neptune Statue on the Boardwalk in Virginia Beach

Buying a House – Plan to Action

Event Plan to Action
 The First Consultation
  • Meeting with the Loan Officer, goals setting and evaluation of your current financial situation Provide documentation of income, assets & other info
  • Credit Report Review
  • Determine maximum amount qualification
  • Receive Pre-Qualification  letter
Find the Right home
  • Start shopping, work with Realtor who will guide you to purchasing the right home
  • Make an Offer
Make an Offer
  • Make an offer on the home at a sales price you are comfortable with
  • Negotiate the contingencies to be included in the contract
  • Sign the Purchase Agreement
  • Provide Earnest Money Deposit
  • Determine your closing date
Schedule Property Inspections
  • Have a qualified  Home Inspector fully evaluate the condition of the property
  • Order Termite /Moisture Inspection
Complete Loan Process
  • Further documentation could be required for your loan completion
  • Lock in interest rate and Review Good Faith Estimate
  • Review disclosures
  • Appraisal is ordered
  • Title to the property is searched
  • Satisfy all the  outstanding conditions to your mortgage lender to complete the loan process
  • Review Truth-in- Lending Statement containing APR (Annual Percentage Rate)
  • As the process continues other supporting documentation may be desired from mortgage lender before lender will fully approve the loan
Settlement
  • Schedule closing time with attorney or title company
  • Review Initial HUD-1
  • Obtain certified check or cashier’s check for closing
  • Sign documents
  • Receive the key for your new home
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