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Are You Buying A Home? |
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Licensed Real Estate Agent Openings
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 730 North Duke Street Lancaster, Pa. 17602 USA Office: (717)392-6222 Cell: (717) 940-5760 Fax: (717) 392-6221 E-mail: MikeStum@hotmail.com
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 Mike Stum Broker or Record License Number: RM-419727 My goal is to be the best Lancaster County PA Realtor by offering my clients the highest degree of service and professionalism they have every right to expect. |
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Pre-approval means you WILL get the mortgage loan for the home you want to buy provided the home is within your pre-approved price range. At your pre-approval meeting with the lender, you will be given a "Good Faith Estimate" of all of your closing costs associated with the purchase of a home. This will help you understand all of the closing costs and how much money you will need to have at settlement. 2.
Let's go Home Shopping: After you are pre-approved with a lender, now the fun begins. Now we
start looking at homes. We will look at all homes within your pre-approved
price range, that match the description you provide me with, until you
find the home you desire.
3.
Making The Offer: Once you find the home you
desire, we will discuss structuring your offer so you have the best chance
of having your offer accepted. In addition, we will discuss your
options to have various inspections done to the home to make sure
you aren't buying a home with problems.
4.
Under Agreement: Once the seller and
buyer agree in writing to all of the terms of the written offer, you are
"Under Agreement", and no one else can buy the home out from under
you. Now the appraisal and inspections must be done.
5.
Appraisal & Inspections: Most offers contain the
buyers and/or lender's election to perform an appraisal and one or more
inspections. Once these are done, and any necessary repairs are
completed, we are on our way to settlement.
6.
Hazard Insurance & Title Insurance: Prior to settlement, your lender will require you to purchase a
title
insurance policy and a one year hazard insurance (fire insurance) policy
for your new home. You will need to bring proof of your hazard insurance
policy to settlement. The
title company or attorney's office we choose to
hold settlement, will provide the Title Insurance Policy. (These policy
fee's will be your original "Good Faith Estimate" provided by
the lender.)
7.
Settlement:
After all of the terms of the
agreement of sale have been fulfilled by the buyer and seller, the buyer
and seller will meet at a title company or attorney's office and the
settlement will take place. At settlement, all necessary documents are
signed to transfer the ownership of the property from the seller to the
buyer. 8. Congratulations on your new home: Once all of the paperwork has been signed at settlement, and the deed and keys are given to the buyer, the buyer becomes the proud owner of the American Dream, their own home.
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