Home Buying Process, a Step-By-Step Guide:
- Buyer meets with Spencer TX Real Estate (STXRE) to discuss their home criteria.
- Buyer meets with Lender to make loan application.
- Buyer and STXRE select homes go view.
- Buyer finds an awesome home and wants to make an offer!
- STXRE does a competitive market analysis to help Buyer decide on an offer price.
- STXRE submits offer to Listing Agent.
- Seller may counter-offer the Purchase Price as well as other parts of the contract.
- Buyer submits Earnest and Option Money to Title Company to be held in escrow until closing.
- Buyer selections inspection companies, STXRE makes appointment for home inspection(s).
- Title Company issues title binder assuring Buyer that Seller is able to sell property.
- Buyer obtains home owners insurance to be effective date of closing.
- Lender orders the appraisal.
- Title Company orders the survey if needed.
- Inspection(s) results approved or repairs negotiated.
- All documentation is submitted to the lender; Loan goes into underwriting for final approval.
- Closing documents and loan package are sent to the Title Company.
- Buyer has utilities transferred effective day of closing.
- STXRE makes appointment for closing.
- STXRE and Buyer do a walk through to ensure home is in the same condition.
- Buyer make arrangements for Wire Transfer to Title Company.
- Buyer brings picture ID to closing.
- Purchase is funded and recorded.
- Buyer gets keys, garage door openers, etc.
- Buyer is so happy with our service and professionalism that Buyer refers to family, friends, acquaintances, co-workers, and any others looking to buy or sell a home!
