Buying a home can be a life changing experience. By owning a home you can enjoy plenty of financial advantages like: appreciation potential, equity buildup, and tax benefits. Many people find that buying a home was the best decision they ever made!
At Icon Realty, our Realtors are ready to update you on what is happening in the local market, and customize a plan that fits your needs. We are here to guide you throughout the entire home buying process!
A good loan officer will want to take a look at your finances prior to issuing you a pre-approval letter. Most likely you will need to submit information about your income, assets, and expenses. Once you have submitted this information you should have a pre-approval in hand in about 48 hours. Then it’s on to the fun part, starting your home search!
We like to sit down with our clients in order to find out what they value in a home. We consider the surrounding neighborhoods, price range, and special features based on each client’s goals! Once we gather all that information, we put together a customized search that will update our clients via email the moment a home that matches your criteria hits the market. This allows us to be in the first wave of showings and if the home is a good match, we can quickly write an offer.
We will schedule showings for our clients. Some homes are vacant, so we can schedule showings for any time. However, most homes are occupied and they require 24 or 48 hour notice. Also, there might be only certain time frames available when a home can be shown. So please remember to be as flexible as possible with availability.
After you find the perfect home, it’s time to make an offer. We can quickly put together an offer once you decide on a home. We use industry leading software that allows you to sign a contract on your computer or cellphone. This saves everyone time and allows our offer to be quickly received, giving us the advantage. We also make sure to carefully review the contract and add contingencies that allow our buyers out of the deal if any potential problems arise.
Once the offer is accepted we will order a property inspection to take a detailed look at the property. Having a property inspection is always recommended because it can expose issues that were hidden to the naked eye. Besides a home inspection, we also highly recommend having a survey of the property. A survey lets you know exactly what you are buying and if there are any encroachments on your property. We realize it’s always best to have all the bases covered regarding the due diligence phase.
After an offer is accepted that is when the mortgage process begins. The lender will ask you to submit information regarding income, assets, expenses, and tax returns. Be sure to get those documents to the lender as quickly as possible, in order to keep the process moving along smoothly. The lender will also be ordering an appraisal on the home. This ensures that the value of the home supports the purchase price. Once the home appraises at value, the file will be sent to the underwriters. The underwriters may request a few additional documents. Once the underwriter has all needed documents they will issue a “clear to close” and we can schedule a closing.
We will setup a closing date with the title company that fits best with our client’s schedule. An escrow officer will oversee the closing. You will need to bring a certified check for any funds needed and will sign the required paperwork. Once that is complete, you are now the proud owner of a new home. Congratulations!