Making a Winning Offer on the Home of Your Dreams

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Purchasing a home is typically biggest financial transaction many people will make. In today’s market, it is increasingly important to be prepared to make the best offer you can. There are several important steps in the process. Following them will ensure a smooth transaction.  

Select your mortgage professional.

Interview several and don’t be afraid to ask friends for a referral so you are able find one you feel most comfortable with.

  1. Be completely honest about your financial situation both past and current. They are there to help you.
  2. You will be provided with a pre-approval  
  3. Return documents in a timely manner. Every day counts when keeping the transaction moving as quickly as possible.
  4. Do not apply for any new credit during the process; this can greatly affect your ability qualify.
  5. Do not transfer or move money between accounts
  6. Do not make any large cash deposits and/or withdrawals

Select your real estate professional.

  1. Interview several realtors ask friends and family for referrals and recommendations. Select one you feel understands your needs.
  2. When shopping with your realtor, be sure to stick to the purchase amount you have been pre-approved for.
  3. When your offer is accepted, ensure that your earnest money deposit is from the account you verified during your pre-approval process.
  4. Your real estate agent will provide the lender with a copy of the purchase agreement and all addendums.

Preparing for your closing.

  1. While your loan is in underwriting note, you will need to be ready for closing.
  2. You will need to provide all paystubs and bank statements throughout the process until you close. Sending these documents as you receive them will speed up the process.
  3. Your down payment money and closing costs will need to be in the form of a certified check from your bank or a wire.  Check with your lending institution regarding their terms and requirements

By following all of the above steps in the process you should be well prepared to make a winning offer and enjoy your new home.

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