The search is over; you found your dream home. So, what’s next?
Right after finding your dream house, the next step should be to make an offer to the seller. Before you do this, be an informed buyer. Know how much does the house values in the market. Research about the market conditions that can affect the negotiation. Ask help from your agent about these things. Make sure that the price you will offer is fair for you and the seller. You should not overpay, and the seller should not be on the losing end as well.
The next step will be securing a home loan. Do your research as to the best lender in town. The internet can be a good search tool. Some loan agencies process application online. Again, your realtor should know at least one trusted lender. Choose a lender with the lowest interest rate and can process the loan in the shortest time possible.
The time element in securing a loan is very important. You don’t like to miss out a sale just because your finances are not approved yet. To make the loan approval come sooner, you need to make sure your financial records are straightened out even before you look for a house. Make sure your credit records are clean and check with your bank if you have financial obligations. A clean financial record helps speed up the loan processing.
After passing the required documents for the loan, it will be assessed by the lender. During this time, you cannot really do anything much except to wait.
Once your loan application is approved, you need to sign your mortgage contract. A Fort Lauderdale Real Estate company can help you out in processing your contract. After your mortgage contract is signed, your broker or your attorney should prepare all the documents needed for closing the sale. There can still be a lot of back and forth during this stage, so it will still take a while before you can finally have the keys to the house.
Once all the documents are prepared, you can arrange a date to meet the seller and his agent. After they accept and sign all the closing documents, you can have the keys to the house. That’s the end of this grueling process. Take the keys; step inside the doors of your new house. Welcome home!