We’ve found your new home, negotiated the deal, now the real work begins!
As your Realtor, I will deliver the Earnest Money check to the Seller’s Agent – remember, this check will be cashed! The funds you put down varies with the price of the home – good rule of thumb is 1% of the purchase price…$175,000 home = $1,750.00 Earnest Money. Earnest Money is a deposit made to a seller showing the buyer’s good faith in a transaction.
I will notify your lender and provide them a copy of your Purchase Agreement. You will work with them to complete your loan process. It is important that you respond to all of their requests as quickly as possible! We cannot close on the purchase of your new home until they say we can!
It is important that you schedule a Home Inspection as soon as possible! The clock starts ticking immediately on our time to schedule, complete and request any inspection repairs, 12 – 15 days is standard for most Purchase Agreements. I recommend Iron Gate Inspection Services, it is not necessary for you to be present for the entire inspection, but you should be there for the last hour so that the inspector can review the report and home with you, and as your Agent, I will stop by the Inspection as well just to make sure everything is going well. We will work together to review the Inspection Report and formulate an Inspection Response. This is the second round of negotiations. The key to Inspection Response negotiations is that we share the entire report with the Seller’s Agent and be reasonable in our repair requests.
Closing…finally! Again, until your lender provides “clear to close”, we are at their mercy! We generally have an idea about when it will be, I will keep and eye process to make certain we are always in compliance with the Purchase Agreement. I will notify you of when and where the closing will be scheduled and as we near the date…how much money you may need to bring to closing.
The most frequent questions I get about Closing are:
How long will it take to sign all the paperwork?
The closing itself generally takes from 30 to 60 minutes – sometimes longer depending on wire transfers and paperwork.
What do I need to bring to closing?
Buyers and Sellers both need a form of photo ID and any money you owe should be in the form of a cashier’s check – if over $10,000, funds are required to be wired.
As your Agent, it is my job to protect you, fight for you and navigate the process of purchasing a new home…and I am great at my job. Contact me today and let’s get you a new home!
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