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5 People Who Will Help You Close On Your Dream Home

5 People Who Will Help You Close On Your Dream Home

<p style&equals;"text-align&colon; justify&semi;">To close on your dream home doesn’t take a village&comma; but it surely will require the expertise of a professional real estate team&period; Whether you’re buying your first or your fifth property&comma; you need a strategic partner to get the job done&period; So let’s get to it&excl;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;"><img class&equals;"aligncenter size-Correct-Size wp-image-14003" src&equals;"https&colon;&sol;&sol;medusamagazine&period;com&sol;wp-content&sol;uploads&sol;2016&sol;06&sol;5-People-Who-Will-Help-You-Close-on-Your-Dream-Home-640x270&period;jpg" alt&equals;"5 People Who Will Help You Close On Your Dream Home" width&equals;"640" height&equals;"270" &sol;><&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;">Find a Realtor<&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Your Realtor will provide you with property search data&period; Select your property and submit your offer and purchase contract&period; Your realtor is not unlike a general manager who will oversee every aspect of your transaction until you close escrow&period; Speaking of which&comma; your realtor will submit your signed purchase contract to escrow along with your earnest money deposit&period;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;">Hire a Home Inspector<&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Now you need to arrange for a home inspection service as well as an appraiser acceptable to your lender&period; Most often the lender selects the appraiser for you from their list of approved appraisers&period;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;">Choose an Insurance Agent<&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Next up is your Insurance agent&period; They’ll arrange for hazard insurance on the property and flood insurance if required&period; Is the team concept coming into view&quest;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;">Select a Title and Escrow Company<&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Now you’ll need the help of a Title and Escrow company&period; Your escrow officer will make sure no money changes hands until all conditions of the purchase contract are satisfied&period; Your earnest money deposit is secure&period;<&sol;p>&NewLine;<h3 style&equals;"text-align&colon; justify&semi;">Secure a Mortgage Professional<&sol;h3>&NewLine;<p style&equals;"text-align&colon; justify&semi;">And here’s the most crucial part of your transaction&period; Your mortgage professional is clearly the most important component of your closing team&period; Nothing moves without mortgage underwriter approval&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">During your home purchase&comma; you will encounter various acronyms concerning mortgage money terms such as PITI&comma; RESPA&comma; TILA&comma; DTI&comma; PMI and MIP&period; You will want to understand these acronyms because they affect your money and your mortgage&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">Now to the most critical component of your real estate purchase&period; Mortgage approval&excl; When the underwriter finally signs off on your loan&comma; you might be tempted to break out your happy dance&period; Not just yet&period; Yes&comma; your loan is approved&comma; but now it has to be funded&period; Your loan officer&comma; whether from Succeed at Eagle or another institution&comma; will track where the money wire transfer is coming from and will check with escrow to make sure it arrived and was deposited into their account&period;<&sol;p>&NewLine;<p style&equals;"text-align&colon; justify&semi;">After your loan has funded and title is recorded&comma; your real estate transaction is completed and you may now proceed with your happy dance&period; Congratulations&period; White wine please&excl;<&sol;p>&NewLine;

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