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How to make a smart move
Buying a house is one of the most important decisions you'll ever make. But it doesn't have to be one of the most difficult. Your Covia RealtorŪ will work with you to make the whole process as smooth, efficient, pleasant and successful as it can be. Here are a few tips on the right way to buy a home.
Step 1: Meet with your loan officer and your RealtorŪ
- Get prequalified for your home loan. If you don't already have a loan officer, your Covia RealtorŪ will be happy to recommend one
- Obtain a preapproval letter
- Get a "Truth In Lending" letter that explains the cost of borrowing money
- Determine what kind of loan is right for you
- Learn about closing costs
Step 2: Now that you know what your price range is, start looking at homes with your RealtorŪ
- Whenever possible, all decision makers should visit the homes on your list
- Don't be afraid to tell your RealtorŪ exactly what you're looking for and just what you don't want
Step 3: Prepare your offer
- Use the comparative market analysis we provide you to come up with a fair offer
- Review the contract with your Covia RealtorŪ
- Be prepared to negotiate
- Once you and the seller agree on an offer, the necessary documents go to the title company to research title commitment and property tax information
Step 4: Make your loan application
- Provide your loan officer with a copy of your contract
- Apply for the loan
Step 5: Inspect the property
- Select a home inspector and arrange for both a general inspection and a wood-destroying insect inspection
- Your Covia RealtorŪ can also provide information about other inspections that may be necessary, especially in older homes
Step 6: Appraisal and survey of property
- The lender and the title company will make arrangements for the property appraisal and survey
- You will receive a copy of the Title Commitment Letter
- You will make arrangements for homeowner's insurance and arrange for your agent to confirm converge with the title company
Step 7: The closing:
- You and your RealtorŪ perform a final walk-through inspection of the property
- Your Covia RealtorŪ will set up a closing date and time with the buyer and the title company. The seller's closing is also set up
- You'll receive a copy of the closing statement to review before the closing
- Buyer brings a cashier's check for all closing costs and the balance of the down payment
Step 8 After the closing:
- Your loan company gives you its final approval and disburses the funds
- The title company receives and funds the money from the loan company. Any additional fees including taxes, attorney's fees, professional real estate fees and title company fees are due at this time
- Legal documents are recorded in the office of the county clerk and mailed to the buyer
- The title company prepares and issues the title policy and sends copies to you and your loan company
 to let us know how we can help you with buying your home.
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