New Home Purchase Steps

Here is a suggested checklist for proceeding with your new home or land purchase:

•1.                  Check with a few lenders for financing options and a prequalification letter.  Enclosed are a few we work with regularly and provide tremendous service for us and you.

•2.                  Discuss your home needs then view a number of them, think about

•a.                   Price Range

•b.                  Geographic area

•c.                   Square footage needs

•d.                  Style of home and interior finishes

•e.                   Lot size

•3.                  Prepare an offer.  Earnest money check always accompanies an offer and is deposited at the time the offer is accepted.  These monies are applied to your purchase price at closing, or refunded to you if any of the contingencies cannot be satisfied.  The following are things are possible contingencies:

•a.                   Financing.  This is an automatic inclusion in Montana, if for some reason financing cannot be secured, your earnest money is refunded

•b.                  Inspection.  Please see brochures for inspectors we use, they will comb your new home and inform you of any issues that need to be addressed

•c.                   Title Insurance.  A title report is ordered by the real estate agent and reviewed for any problems in transferring ownership.

•d.                  Home Insurance.  Please call an insurance agent for a quote on homeowners insurance, this must be in place at closing, enclosed is an agent in town that provides quality service.

•e.                   Appraisal.  Your mortgage company will order the appraisal on the home, if the price is lower than the appraisal, congratulations, you have built in equity, if the price is higher than appraisal we will renegotiate the contract.

•f.                   Any other conditions of pertinence.  Do you need to sell another home?  Are you relocating and dependant on gaining employment here?

•4.                  Counter Offers.  After the initial contract is written, the sellers may choose to counter offer any of the conditions of the contract.  We then have the opportunity to respond to those and determine whether we can comfortably purchase the home.

•5.                  Inspection Notices. If the inspection returns any problems with the home, an inspection will be made to the sellers with some options for either repairing the items, or reducing the purchase price.  If they accept these conditions, then we proceed in the process.

•6.                  Closing.  You Realtor will keep you informed of any dates you need to be aware of and attend the closing with you.