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Overview Of The Buying And Selling Process |
The
Buyer...
1. Considers the purchase of a home.
2. Selects a real estate agent.
3. Determines needs and wants.
4. Discusses financial issues.
5. Views & researches target homes.
6. Makes an offer to buy.
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The Seller...
1. Decides to sell property.
2. Selects a real estate agent.
3. Determines needs.
4. Prepares home for marketing.
5. Agent markets the home.
6. Accepts, rejects or counters offer.
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8. Loan Application
9. Inspections
10. Title Search
11. Appraisal
12. Loan Approval
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13. Closing Papers Signed
14. Documents Recorded
15. Funds Available To Seller
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Tips For Buyers
| A Few Points about Interest Rates |
| If you're new to investing or real estate and don't know the first thing about interest rates, here's a good tip: the higher the interest rate, the more expensive it's going to be. High interest rates mean you will have to pay back more on the money you borrow. Another good rule of thumb is that affordability increases if you use an adjustable rate mortgage (it's easier to qualify this way). |
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