The Home Buying Process
Decide to Buy
Congratulations, you’ve made the decision to purchase your first home! We believe that this is a good decision. The key now is finding the right home, and we’re here to help you do just that.
Hire the Matt Engen Group
When you make the decision to work with the Matt Engen Group, know that above all else, we put our clients first. We have a strong understanding of the local housing market, we’re honest, ethical and willing to work for you!
To make the financing process as painless as possible, ask us to introduce you to a preferred financing consultant. This is an important step in the home buying process. With a pre-approval status, you’ll be able to seriously look at homes and be ready to make a legitimate offer.
Find Your Home
There are a lot of homes out there, we’ll help you accurately pinpoint homes that meet your specific criteria by creating an individual MLS search that is unique to you. When you identify a home you’d like to view, call us and we’ll schedule a showing and take you through the home.
Make an Offer
Once a property has been selected, a purchase agreement is written. We present the offer with your pre-approval letter and earnest money check and start negotiations.
Get your Home Inspected
Once you’ve made an offer and the seller has accepted your purchase agreement, you may wish to have the home inspected. More and more people are electing to have a private home inspector inspect the home that they’re buying. In fact, a common way to purchase a home is to make the purchase agreement’s final acceptance contingent upon the results of a private home inspection.
The lender orders the appraisal shortly after the buyer and seller accept the purchase agreement. The lender typically requires the homebuyer to pay for the appraisal at this time.
Final Approval of Loan
After receipt of appraisal and title work, the lender submits the complete file to the Underwriting Department for final approval. At this time, any additional items that had been requested should have been turned into your lender. Upon approval, the lender provides the homebuyer with a complete closing checklist which includes the total costs needed to purchase the home. The loan “closing package” is created and is sent by courier to the title insurance/closing company.
Final Walk Through
Before closing we will walk you through the property to verify that the property is in substantially the same condition as when we wrote the purchase agreement. This is generally done 1 day before closing.
The buyer and seller meet at the buyer’s title insurance company. This is where the deed is transferred, final loan application is signed and checks are disbursed. Depending on the terms of the purchase agreement, this is when you typically take possession of your new home. Congratulations!