The Buying Process

There are many good reasons and benefits for owning your own home. REALTY WORLD - Long Realty will guide you step-by-step through the entire process of buying a home. You will learn what to do, how to do it and when. 

Step 1

Determe which property style and features and as well as what neighborhoods meet the needs of you and your family.  You may need to consider driving distances from work, schools, and any hobbies or special needs of your family.

Overview of your financial status.  A qualified mortgage lender will pre-qualify you to determine the amount of mortgage you qualify for and also to guide you with the necessary closing requirements.  This analysis is based on the ratio of income and debt.

Step 2

After you know the style house that will suit your family, the areas you want to live in, and how much you can afford, you can go shopping for a house.  We wil consider the parameters that have been established by you and your lender.  Shopping for your home on The Internet will be a big part of the process.  75% of all homebuyers shop on-line for the house they will purchase.

Step 3

When you find the house that meets your criteria, your sales associate will write an offer to purchase contract for you, and have it presented to the seller of the property, through the sales associate working for the seller, or the listing agent.  The seller will have 3 choices, accept, reject or make a counter offer to any part of the contract.

Step 4

Once the offer has been negotiated between the buyer and seller, the next step of the buying process is to have the property inspected and make formal loan application.  During the next few days or weeks, the mortgage company will be gathering information about the buyer, as well as having the home appraised and the title work completed.  Once the loan has been processed, it will be sent to underwriting for approval.  When the loan is approved, the closing is scheduled.  The closing is the time when the buyer signs the note and mortgage documents, and pays the balance of the cash to close, and the seller signs and conveys title to the property with the deed of general warranty.  

Step 5

Congratulations You Are A Homeowner