-
Quick Tour
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.- Explore the world's largest storehouse of real estate knowledge
- Access free training on ActiveRain University
- Share the experience of life in the real estate industry
- Grow your business through real estate blogging
- Blogs
-
Resources
Product Reviews Curious as to what others in your profession think about a certain product or tool? AR's community takes the time to leave honest and transparent reviews of their experiences so you can be a bit wiser about your purchase.
- Broken down by categories and subcategories for easy finds
- Get an unfiltered look at what real users are saying
- Leave a review yourself for others to benefit from
- Add new products as you use them and gain points for doing so
|
Like many, you dreamed of buying a new home. You searched the internet, walked through a couple of open houses, chose your Realtor®. You were told you will need full loan approval before beginning your search in earnest and found out exactly how much home you could afford. With your Realtor®, you viewed the homes which would fit your price range, your location and size requirements and found THE home. Your Realtor® wrote up the contract and IT 
;)
;)
;)
Find AZ real estate agents and Scottsdale real estate on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2013 ActiveRain Corp. All Rights Reserved
25 Comments on What to do after signing your real estate contract to purchase a home
Juli,
Great list, am off to meet an inspector for my newest buyer under contract. We are all set with title and mortgage, now to confirm condition and we are moving forward!
All the best, Michelle
Thanks for stopping by, Michelle. Here's to a great inspection and smooth closing on your Buckhead Atlanta home sale.
Juli you've got a very 'buyer friendly' post here! Great job of making what we all know can be a very stressful time - not seems so stresfull! We must meet for coffee one of these days!!
Anna, I don't do coffee, but I'll do tea, LOL. Hey, do you have any condos coming up for sale in your area? This transaction just fell out because of a bad inspection. The shower head was leaking behind the surrounding tile area - it wasn't pretty.
HI Juli,
Excellent information and by elimination many of the uncertainty and process mystery, reduces stress and improves the client experience. Good for you.
Peter and Linda - as Carolyn wrote above and many of my Canadian clients have said, things are so different in Canadian purchases versus our purchases here in the states. I know when I moved to Arizona from the Chicago area, I learned there were a TON of differences just among states. I think we should get together and write a joint blog outlining the differences - particularly as at least 1/3rd of the home purchasers in Arizona are Canadians.
Julie breaking down the contract and steps of the transaction is very valuable information to Buyers in Scottsdale. Many move from another location and don't understand the difference we all have state to state.
This is a great post for buyers. It pretty much spells it out, and makes you look like wonder woman. Good for you.
Juli, Great list however, in my world it's a little more....many of our buyers are picking tiles, appliances, etc after contracts are signed and their new home being built.
BTW my big Whale Tale supporter, tomorrows a new one.
Juli, Most buyers, especially first time home buyers don't have any concept of all that is involved in the "process." A great agent, like Juli Vosmik, will be there very step of the way - guiding and advising, making sure you have your clients's back!
Marilyn, do your homebuyers in Lake Charles LA have to do anything more as standard procedures? We all know that things will come up.
Debbie, I just like to think that I'm there to help out homebuyers work through the whole process - I just don't want them to have any surprises and feel like they were left at contract only to be seen again at closing.
Ellen, I'll be sure to check in tomorrow. Can't wait.
Kathleen - it's agents like you with your great San Jose real estate experience which I've learned so much from (Ok, poor grammar there) which help me become a better real estate agent every day - at least that's what I strive for.
Hi Julie, very good article on the home buying process. It is good to use a Realtor because
if there are "bumps" in the road, a realtor will know how to handle the situation. And let's
face it, we all get a last minute surprise, more documents from the bank, a lien search
may have found something etc. A Realtor like Julie Vosmik knows how to handle any
situation.
Irene Durocher Bristol Properties
Boca Raton,Fla. on the Atlantic Ocean
Juli great answers to questions first time buyers have. I usually give them a handout so they can check off each stage.
Have a great weekend.
Thanks, Irene. I bet you have a GREAT homeowner checklist.
Jennifer, I would love to see you handout. The one I have isn't very good, frankly. It needs some tweaking.
Don't forget about shopping for all those great new things. Although I always recommend buyers wait at least a week or two AFTER they're in the new home to really get the feel for things. And, of course, if they need to use credit, any new purchase might mess up their financing.
Very good information for home buyers. And, it is a great time for home buyers to take advantage of the very attractive market.
Have a wonderful weekend, with your camera in hand.
Mom, if only people would listen to not opening new credit or using their cash UNTIL aferward. It's such an exciting time, but patience is in order.
Thanks, Roy.
Julie,
I once was ready to close with a buyer. Their credit was marginal but acceptable under 2006 terms. They had a lot of credit cards but would just make it under the current income/debt ratio at the time. Loan documents had been signed, employment verified, insurance policy issued, money wired into escrow and the UW did one more credit check. And guess what they found? The buyers had gone out the day before and bought $10,000 worth of furniture for their new home. I had told them not to pay anything off, just make normal payments during the escrow period and NOT TO CHARGE ANYTHING LIKE FURNITURE OR FURNISHINGS!
So, the UW would not fund the loan, the entire deal fell apart and everyone was upset. And do you know what the buyers excuse was? "We just went looking at furniture to buy after the house closed. The nice furniture salesman told me if we bought it 1 yr same as cash that it would be OK". Wrong! Oh yes, they thought about calling me while they were at the furniture store but didn't want to bother me on Sunday. BOTHER ME....It would have been fine to call me. And guess what, the furniture store would not take back the furniture as they did not buy it at a reputable nationally known store and they had no room in their appartment for it.
And they were mad at me in the end like it was my fault as I did not make it more clear???? How much more clear can it be than to say "Do not charge anything; no furniture, furnishings, or a car" "If you do, you will not get the loan".
I agree that giving keys is the most rewarding part about our job.
I also agree with a comment way above ^^^ that it is interesting to see how transactions are different all across the US.
Kristin, we can't say it often enough!!! DON'T MISS ANY PAYMENTS AND DON'T CHARGE ANYTHING. Credit IS re-pulled just before closing. Wait until you're in and it's a done deal!!!
Renee, I know when I moved here from Chicago, it was a learning experience. I love learning about other areas of the country and the world. ActiveRain is such a great platform for that.