Thinking of Buying A Home?
Your Homework When You Work With Me
Name(s): _________________ Date: _______________
Address: ______________________________________________________
Email: _____________________Phone: ____________________
Do now
- Find a mortgage broker/lender. I recommend comparing at least two lenders/mortgage brokers to see who will give you the best terms and rates. My favorite lenders can be found on my website at: BaseNashvilles Favorite Lenders
- Sign Buyer representation agreement and return to Nick. I will send this to you via separate email once we’ve decided to work together
- Discuss Disclosure
- Review the estimated closing costs
- Ask your lender to provide a Good Faith Estimate
- Hire a Home Inspector. My favorites can be found using this link. The home inspector generally costs $350 – $700 depending on whether you’re buying a condo or single family home. My home inspector will be: Name: ______________________ Email: ___________________ Phone: _____________________
- Change privacy settings on Facebook and LinkedIn to the highest security settings possible, while still allowing people to Friend you. Do not post anything about your home search as it can be used against us during negotiations
- Send a copy of your preapproval letter to Nick as well as the contact info for your mortgage consultant/broker
- Keep Nick updated on your mortgage process
- Do not buy anything expensive or open new credit cards. Pay all bills on time. Be very careful with your finances from now until we close.
- Decide whether you want a home warranty and if this is something you want to purchase or would like us to try and negotiate during the negotiation process
- Review the contract and any riders which will be used at the beginning of your home search so you are comfortable with the contracts when the time comes to put in an offer. Ask Nick to send these to you when you’re ready to review them
Once a contract has been accepted
- Arrange for the home inspection asap. Ideally it should be conducted the day after the contract is accepted. Notify Nick of the date/time. Clear your schedule to attend the home inspection if possible and bring your checkbook to pay the home inspector or ask if they take credit card. Home inspections generally take about 2 hours
- Obtain initial trust money check asap and let Nick know when it’s ready for pick up. Usually these are due to the other agent within 24 – 48 hours
- Continue the mortgage approval process. When the lender asks for something, get it to him asap otherwise closing could be delayed.
- Ask your lender provide a Good Faith Estimate if you haven’t received one
- Gather home insurance quotes
After Contingencies are satisfied
- Hire a mover and begin packing
- Call and arrange for utilities to be transferred into your name the day of closing. Phone numbers for the utility companies can be found on my website www.basenashville.com under buyer resources
- Arrange for home owner’s insurance to start the day before closing
- Continue the mortgage approval process. When the lender asks for documents get them to them asap
- Gather funds for the down payment and closing costs
- Attend the walk through. This is usually scheduled for the day before closing
- Attend closing
- Consider having all locks changed in the home and new keys made. Change any security systems over to your name and set new passwords
