Buying

IF YOU CAN DREAM IT, WE CAN FIND IT.

Your hopes. Our obsession.

THE BUYING PROCESS

You’ve found the home you can see yourself living in, now what? There are several steps to the buying process you will go through before you can officially call it your own.

PURCHASE & SALE AGREEMENT

Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.

INSPECTION

Once a buyer and seller reach mutual acceptance on a property, a home inspector is hired to investigate every nook and cranny to determine if the home is in need of any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.

NEGOTIATION

FINANCING

TITLE INSURANCE

ESCROW

CLOSING

MORTGAGE CENTER

You’ve decided you want a piece of the American Dream. Now what? The first – and most important – step to the home buying process is financing because you can’t do anything until you know how much you can afford. To get started, you need to understand what lenders are looking for from a borrower. There are three main factors that help determine if you qualify for home financing: income, assets, and credit history.

INCOME

Most loan programs require the lender to verify all of your income sources. Typically you will need to provide paystubs, your W-2, and copies of your tax returns.

ASSETS

CREDIT HISTORY

APPLYING FOR A LOAN

CHOOSING THE BEST LOAN

LOCKING YOUR LOAN RATE

PROCESSING YOUR LOAN

UNDERWRITING

PREPERATION FOR CLOSING

SIGNING

GET READY TO BUY

You’re ready to buy - or maybe you're just ready to start seriously thinking about buying. There’s a lot you can do to prepare. With so much information available at your fingertips, you may already be doing a lot of your own research. Here are a few things to keep in mind while you get started.

DETERMINE YOUR PRICE RANGE

The best place to start when buying a home is to find out how much house you can afford. Your Windermere agent can refer you to a loan officer who can assist you with determining how much of a down payment you can afford, along with a monthly payment you are comfortable with, and the type of loan that fits your needs best. Serious buyers who are highly motivated should go through the effort of getting pre-approved; not only will this allow you to focus your home search, but it will also position you as a serious buyer in the eyes of sellers when the time comes to make an offer. Check out our mortgage center above for more information about financing.

MAKE A LIST AND PRIORITIZE

Imagine your ideal home and community. Now make a list of everything you envisioned. Then take that list and break it down from high to low priority. High-priority items are the things you cannot live without in your new home. Lower-priority items are those that are an added bonus, but not necessary. Your list can include things such as: number of bedrooms, need for a yard, style of home, and access to schools and shopping.

TOUR HOMES IN PERSON AND ONLINE

Some people look at several homes before finding just the right one. And others find “the one” immediately. Thanks to the internet, you can streamline your search process significantly by checking out homes for sale online. And when you’re ready, your Windermere agent can tour homes with you on your schedule and create a personal checklist for each one. If you’re not quite ready to start working with an agent, you can visit open houses and preview everything that’s for sale in your market on Windermere.com.

MOVING CHECKLIST

Moving into a new home requires preparation, patience, and hard work. Use our checklist below to make your move as seamless as possible.

6-8 WEEKS BEFORE

- Use up things that may be difficult to move, such as frozen food.
- Get estimates from professional movers or from truck rental companies if you are moving yourself.
- Once you've selected a mover, discuss insurance, packing, loading and delivery, and the claims procedure.
- Sort through your possessions. Decide what you want to keep, what you want to sell and what you wish to donate to charity.
- Record serial numbers on electronic equipment, take photos (or video) of all your belongings and create an inventory list.
- Change your utilities, including phone, power and water, from your old address to your new address.
- Obtain a change of address packet from the post office and send to creditors, magazine subscription offices and catalog vendors.
- Discuss tax-deductible moving expenses with your accountant and begin keeping accurate records.

2-4 WEEKS BEFORE

- Contact Chamber of Commerce and school district and request information about services.
- Make reservations with airlines, hotels and car rental agencies,if needed.
- If you are moving yourself, use your inventory list to determine how many boxes you will need.
- Begin packing nonessential items.
- Arrange for storage, if needed.
- If you have items you don't want to pack and move, hold a yard sale.
- Get car license, registration and insurance in order.
- Transfer your bank accounts to new branch locations. Cancel any direct deposit or automatic payments from your accounts if changing banks.
- Make special arrangements to move pets, and consult your veterinarian about ways to make travel comfortable for them.
- Have your car checked and serviced for the trip.
- Collect items from safe-deposit box if changing banks.

2-3 DAYS BEFORE

- Pack belongings or hire movers to do so.
- Label each box with the contents and room where you want it to be delivered.
- Arrange to have payment ready for the moving company.
- Set aside legal documents and valuables that you do not want packed.
- Pack clothing and toiletries, along with extra clothes in case the moving company is delayed.
- Give your travel itinerary to a close friend or relative so they can reach
  you as needed.