Step 4. Purchasing Your home
Once you have an accepted contract, you need
to have a title search done, complete all inspections, and wait
for the loan to go through underwriting.
Inspections
Title Search. The title company will do a search
to make sure that there are no liens against
the property. If there are any issues, they will
need to be addressed prior to closing.
Title Insurance. An important
thing to consider is whether or not to buy title
insurance. Please ask your title company to explain
the pros and cons of buying title insurance so
that you can make an informed decision.
After Inspections
Once the inspections are completed and the title is clear, we need to wait for the property to go through underwriting. Sometimes the lenders will require that certain repairs be done to the property before they will close. Sometimes they will pass the house through without any requests. Each loan process is different. Once all the requirements of the loan are completed, we are ready to close.
The entire process once we have an accepted offer typically
takes 30 days. It can be fewer days if everything is rushed,
and it can take longer if necessary as well.
If you would like a list of title companies in
our area, contact us.
To skip ahead or go back to a previous step, please use the links below:
Step 1. The Initial
Consultation | Step
2. Preapproval | Step
3. Searching for the Home
Step 4. Purchasing the
Home | Step 5.
Closing on the Home | Step
6. After the Closing
|
