A home inspection is a critical
HOW DO I BUY A HOME DAVE Feb 5 2020 65623 1
I get this question all the time! Dave How do I buy a home? There is not a single person on this planet who knows everything! There are no STUPID QUESTIONS. SO DON'T be afraid to ASK!
Well it's pretty simple. Although, there are a few hoops that you have to go through.
First you have to be in the same job for 2 years.
You have to have a good credit score.
You have to have a good rental history.
You will need to contact a loan officer for them to pre-approve you. Sometimes we want a Million dollar home but our debt to income ratio only permits us to buy a home for 150K. So this would be the first step, unless you are going to buy cash.
Once you get the pre- approval from the lender, It will tell you how much of a house you can purchase.
So if you get pre- approved for a 250K home you can contact a REALTOR, that would be me.David Maloney 772 207 1027.
We then begin our search. I will document your MUST HAVE'S, 4 bed 2 baths, Pool, two car garage, NEW Or EXISTING HOME etc. Once I's armed with this information, I will send you listings that match your search. If you see something that jumps out at you, then we make the appointment and we proceed to check it out.
If you fall in love with this home, we put in an OFFER. Should the seller accept the offer, and sign the terms, we have a CONTRACT. The contract will have the terms of the CLOSING DATE etc.
We then submit that contract to the LOAN officer , he processes the loan. The BINDER OR ESCROW DEPOSIT is lodged with the title company.
WE make contact with an INSPECTOR To do a HOME INSPECTION. We do the home inspection in the allotted time. IF after doing the inspection and you find things that you do not like, eg. MOLD, CHINESE DRYWALL OR any other defects we then get the seller to address,.You the BUYER CAN WALK AWAY if that seller refuses to address same, then the Contract is cancelled and you get your DEPOSIT BACK. Not questions Asked. The other avenue for getting your binder back is if you are denied the LOAN!
Let's say all is well i.e, LOAN APPROVAL, APPRAISAL CONFIRMED, WOOD DESTROYING ORGANISMS ( WDO) in the allotted time we close and you get your KEYS AND WALLAH! YOU ARE A NEW HOME OWNER.
That, basically is the SHORT HAND VERSION OF OWNING A HOME.
However, YOU NEED THE EXPERT and this is where I come in. YOU CAN CALL ME, DAVID MALONEY, REALTOR @ 772 207 1027
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Working as an assistant to the Premier Customer Relationship Manager at commercial bank propelled David to enter the Real Estate and financing world. Shortly after receiving his Mortgage Broker licens....