Brandy Moss | Realtor®

HOW CAN I HELP YOU PURCHASE A HOME?

THE HOME BUYING PROCESS

• HOW TO GET QUALIFIED
• PREPARE FOR HOME OWNERSHIP
• WHAT IS ESCROW
• THE CLOSING PROCESS
  

01

You will meet with your licensed LOan officer to obtain a pre-approval so THAT you’LL know what your buying power is before looking at homes

documentation required for loan qualification:

• photo id
• last 2 years of tax returns with w2's or 1099's
• last 30 days of paystubs
• last 2 months of bank statements for w2 income
• last 24 months of bank statements for 1099 income

02

Your loan officer will show you how they will manage the process from start to finish.

they will also discuss the different loan options based on your income, credit and loan to value of home, such as:

• fha
• va
• conventional
• USDA

03

Your local realtor will show you the homes in the market area that meets your search criteria and keep you informed about new listings that you may not be aware of.

things you may consider:

• comfy monthly payment /budget
• location
• school district
• how many bed/bath
• square footage
• style of home (ranch, split, etc)
• finished basement
  

04

Your Realtor will write up a purchase contract. At this time, you will also need to determine how much earnest money you would like to put down to include with your offer, and then negotiating starts.

• Earnest money, sometimes called a “good faith deposit,” is a sum of money that is included with your offer to purchase a home. Earnest money has become standard, especially in today's competitive real estate markets. The purpose of earnest money is to SHOW the seller(S) that you're serious about purchasing the home.

05

Your local realtor will negotiate on your behalf with the listing agent (seller's agent) and the seller(S) to come to agreeable terms.

note: as your agent, I am negotiating on your behalf to make sure the terms of the agreement are best for you and your situation.

06

once the contract is fully executed, you will have a 10 day inspection period. this is where full inspection of the home will be preformed. this also provides an opportunity to possibly negotiate any repairs.

Note: You are responsible for inspection fees.

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Step 7

Contact Information

• Patrick Eades
  
• 26227 West 141st Court
  
• Olathe, KS, 66061
  
• tel: 913-999-9932
  
• Patrick.Eades@pillartopost.com
  

08

you will set up a time to met with your loan officer who will collect all documents and submit your loan for disclosures and underwriting.

09

at this point you will sign your mortgage application electronically or in person with your loan officer.

you will also submit any remaining documents that are needed to process your loan.

10

The listing agent will schedule the appraisal inspection with the appraisal management company to determine the actual value of the subject property.

note: What does home appraisal mean?

A home appraisal is a process through which a real estate appraiser determines the fair market value of a home. It can assure you and your lender that the price you've agreed to pay for a home is fair. Appraisals are also often used to determine property taxes, making appraisals a requirement in most counties.

11

this is when your loan will be officially approved and provided a "clear to close" for the closing date listed on the contract or before.

12

your closing date and title work will be scheduled with your settlement agent (title company).

13

your final cd "closing disclosure" will come out 3 days prior to your closing date, which you will need to sign.

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STEP 14

closing day!

it's closing day! You will go down to the title company location and meet your realtor, loan officer, and your settlement agent .

15

all mortgage documents will be signed. both your settlement agent and loan officer will review with you.

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STEP 16

moving time!

your realtor will give you the keys and now is the time to enjoy your new home!

Congratulations!

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Brandy Moss | Realtor®

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