If you are buying your first property, you probably do not
have the necessary information to find out if you pre-qualify or not, this
process of pre-qualification is completely free at our offices. In the real
estate market there is an infinity of lending programs and we can assure you
that there will be one that feeds your needs. At this point there are
qualifications for established and non establish credit. The non establish
credit is very helpful for people with a short credit history or no credit
history at all.
The second step after identifying the amount of loan you
pre-qualify for is the seach of the property, based on the pre-qualification.
The third step occurs after finding your dream house, putting
together the contract; and in order to present this contract we need to gather
additional information, like the pre-qualification letter, and a deposit check
that will guaranteed the transaction from your part. This check may vary in the
amount, but it is part of the transaction, and it will be used towards the
settlement cost.
It is a good idea to ask your agent to add a contengency on the
contract based on the outcome of the property inspection, this way you can find
the fixes needed and with this you can negotiate with the person that is
selling the property.
It is important to also add a property insurance as part of the
contract. This plan will cover you for one year, and the items that are insured
will vary depending on the company you select. Let your agent explain this to
you in more detail and then make your selection based on your needs. This
insurance can be renew every year if you wish to do so.
The fourth step, it's that the day before closing, you and your
agent will give a final walkthrough to the property to make sure everything
still working. If anything needs repair, your agent will have to negotiate
before the closing or during the closing.
The last step is the day you've been waiting for, closing day.
If the qualification has been process correctly, you will be able to close the
day it was stated in the contract and the final outcome will be pleasant for you
and your family.
10203 Burke Chase Ct. Fairfax, VA 22032
Office: 703-931-5146
