1) Buyer pre-qualification – The buyers should meet with a loan officer of their choice to be pre-qualified to determine what price range suits their finances. The loan officer should provide good faith estimates of appropriate loans to best suite the buyers’ needs. In addition, sellers and agents of sellers regard buyers who have been pre-qualified as “better” buyers that those who have not been. There should be no cost for a pre-qualification. Buyers may also be pre-approved which is a step above pre-qualification. The buyers credit report must be obtained to pre-approve them. Therefore, there is usually a cost of approximately $50.00 for a pre-approval. I am able to provide names of loan offers if needed. Do you need to sell an existing property to buyer, or can you bridge a loan?

2) Viewing Homes and Neighborhoods – After the pre-qualification/pre-approval process I will give buyers information about how to view and evaluate homes. I will book appointments to view homes with the buyer. As buyers view properties, I will provide information about the properties, comparable sales and neighborhoods.

3) The Sales Contract – When buyers have decided on a home, I will write a contract for the buyers to purchase the home. The contract will be 7-8 pages long, including appropriate disclosures. If buyers wish, I can provide them blank copies of these forms ahead of time so that they me familiarize themselves with them. Comparable from the neighborhood and street on which the home is located, can also be provided to enable buyers to make the best possible purchase and to be legally protected.

4) Mortgage Loan Application – When the buyers have an accepted sales contract on a home, the buyer will apply for a loan (mortgage) with the lender of the buyers choice. The loan officer should provide a good faith estimate that shows the maximum closing costs and the monthly payment. We are pleased to provide buyers a list of loan offers and/or to provide good faith estimates. At application, the loan officer will generally collect $250.00 to pay for the credit report and for the appraisal. The loan officer will request certain document from the buyers.

5) Inspections - Buyers will arrange home inspection and termite inspection and decide whether they want a radon inspection. I will give buyers a list of home inspectors and termite inspectors. Buyers may choose from this list, or from the phone book or from other sources according to their preferences. Buyers should attend inspections. Buyers will have the opportunity to request necessary repairs following the home inspection and all other inspections.

6) Appraisal – The appraiser for the lender will visit the property to perform an appraisal. The appraisal verifies the value of the property. The appraiser used MLS comparables. Buyers are entitled to a copy of the appraisal and should request that they receive their appraisal at closing.

7) Survey – A staked survey indicates the boundaries of the property and confirms there are no encroachments.

8) Loan Approval – Loan approval will be given if all is in order and approved by the underwriter for the loan company. The closing will be set.

9) Walk Through Inspection – Prior to closing, the buyers will walk through the property to determine it is in as good or better condition as when the contract was accepted.

10) Closing – the buyers set the time and place for the final signing of deed and other paper to compete the purchase of the home. Consider purchasing owner’s title insurance; I will gladly get a brochure for you to read to further explain the value of title insurance. At closing, the buyers receive keys and possession of the property, according to terms and conditions of their sales contract.
 

Let Me Personally Search for a Home that Matches Your Criteria, for Free and Without Obligation. 

As a top Louisville, Oldham County and Anchorage real estate agent, I make it my business to be aware of every local home or property on the market. I even know of properties that will be available, but have yet to formally be placed on the market. 

I have direct access to the Louisville, Oldham County and Anchorage area MLS (Multiple Listings Service), and also to every other agents in the area and all of their listings. 

If you give me some idea of what you are looking for, I will personally review all my sources of real estate listing information and send you everything within your price range that matches your criteria. I can save you a great deal of time! 

This is a totally free service, and there is no obligation. It's part of my job to offer services like this to homebuyers.