I am amazed at the amount of people who believe finding a house to buy is the most difficult of the chores before them when going through the process of purchasing a home. In fact, I've had some individuals throw up their hands once they have found their dream house and say, "Wow, that wasn't as bad as I thought it would be". It's kind of like the client really believes the major part of the job called "House Hunting" is completed. Nothing could be farther from the truth.
Here are some things you and your Realtor must follow up on:
Securing Your Mortgage - Please, above everything else, follow through with whatever requests your loan officer or processor asks you to do or become involved in. This means, if they need a W-2 form - move quickly and get it to them. If the loan officer asks you for tax returns, credit information or anything else - make it happen! I mentioned in a previous blog to guard your credit throughout this entire process. Do not go out and spend, purchasing something for the new house before closing on it. For whatever length of time closing takes, whether it is two weeks or two months, do not let anyone run your credit for a personal loan, car loan, or anything like that. Sometimes, just a slight decrease in your FICO Score is all it takes to get turned down, have to pay more dollars at the closing or perhaps more interest for the next 30 or so years.
Your Home Inspection - Remember, any inspections are generally on a contingency. In other words, you only have so many days to accomplish getting this task done. One of the reasons you want to have your home inspection completed as early as possible is because sometimes, things are uncovered, potential major defects that need additional inspections by a specialist in the field. For example, a possible leak in and underground oil tank, or something structural, often requires another inspection. Make sure you get your inspection in a timely manner. When necessary, your Realtor will ask for an extension of the contingency. You will certainly want to prove at this time that you have been moving at a good pace with your inspections.
The Closing Company, Title Work - Again, make sure if anything at all is required by the title company that you supply it as fast as possible. They can only complete the necessary projects when they have the information needed, in front of them.
The Closing - It's a good thing to bring your contract and other forms you've signed with you to the closing. Don't forget your identification. Your identification MUST match your signature on the contract. There is often a surprise or two at the close, but most times the closing attorney and realtors together will deal with it. So if a surprise develops, stay cool because it generally works itself out.
Finally, enjoy your new house. Endeavor to make your payments on time, perform proper maintenance and go about the business of making your house, your home.
David L. Burrows, Realtor®
Envirian of Warrenton
Reston, Virginia 20191
Phone: 703.391.9200 x9119
A Burrows' Thought worth considering: "You can get a Free Credit Report on the internet. Make sure you know what that report says before you apply for credit."
Interested in Some Great Reading on selling your home? Take a look at these articles on my website: Selling Your Home: Where do you begin?
Seller Guidance: I would encourage you to employ a Realtor® to help you sell your home. When your agent or another agent is showing your house, go away and let them do your work for you. I also urge you to utilize my FREE SELLERS TOOLKIT before selling your house.
Buyer Guidance: I would encourage you to really check out anything and everything you are told by a well meaning seller. Employ the services of a Buyer's Agent to help you discern what you read and listen to about the area you are thinking of calling home. I would also urge you to get my FREE BUYERS TOOLKIT before heading out on the journey to find your new house.
Try this powerful link to help you find your next home: Fairfax Homes For Sale
The search engine on my site will allow you to find a house by Mapping, County, Subdivision, Zip Code, Address or City. I encourage you to try the Fairfax MLS and in fact, search the entire Northern VA Real Estate area.
Northern Virginia Information - Here you will find answers to your questions about schools, auto registration, taxes, things to do this weekend, popular destinations. It only takes a moment to look and it is free with no registration required!
Click on the following link for your Complimentary eCalendar & Daily Planner. This is a Free Gift from David. There is absolutely NO sign-up, registration, tricks, or gimmicks. It really is free for you to enjoy! This is a great tool for keeping track of your schedule for all of your Real Estate needs. There is NO obligation.
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