What To Expect When Buying Your Home
Thank you for choosing to work with Pink Realty on your home purchase. Below we have useful videos and information on the home buying process and what to expect!
Dates, Deadlines, and Earnest Money
The first thing we need to do after going under contract on a house is put earnest money down. The amount of earnest money typically depends on the sales price. $1000 to $2000 is standard unless the home is higher priced. The earnest money is consideration for the deal and shows that the buyer is working in good faith to buy your house. The earnest $ is usually held by the title company or the listing broker’s office. You will get a receipt for your earnest money.
The Inspection Process
As the buyer you have the right to do an inspection on your new house before purchasing to make sure the home meetsyour standards and is in safe and satisfactory condition. Usually within seven days, there will be an inspection on your house.
The Appraisal Process
Your lender will require an appraisal on the home to verify they are not lending more than the current value. This appraisal is for the buyer and lender’s use only. They do not share this information with sellers or listing agents.
What to Expect at Closing
The buyer will do a final walk-through of the home right before closing or on the day of closing to verify the following:
To verify you moved out.
To verify the home is in broom clean condition.
To verify all debris is removed from inside and outside of home.
To verify all the inclusions stated in contract are at the property.
To verify the house has not burned down or any damage has been done to the home.
Preparing for Your Move!
Moving is a stressful time with so much to do and so much to think about. To make the process as easy as possible, below is timeline to help you through the process:
Homebuying Process From Beginning to End
Have you been thinking about buying a home, but you are not sure where to start? Does the news you hear about the real estate market make you apprehensive about buying a house now? With property values on the decline, it has created a buyer’s market that opens up several buying opportunities for you. Let Pink Realty and their expert team of real estate agents take the mystery and anxiety out of home buying. Pink Realty has outlined a simple and understandable Home Buying guide that helps prepare you for the entire process from beginning to end!