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The Home Buying Process
- Step by Step
 KNOW WHAT YOU CAN AFFORD
Consult with a lender or mortgage consultant. Banks each have a variety of loan programs available. Mortgage consultants can help you shop from from many banks at once, giving you more options.
HAVE AN UNDERSTANDING OF TAXES AND INSURANCE
In Whatcom County you can view property taxes online.
Call your insurance company for an insurance quote on your new home.
SHOP FOR A NEW HOME
Shop on your own or with a Realtor.
SEARCH MLS LISTINGS BY CLICKING HERE.
Shopping with a realtor will save you time and money.
SUBMIT AN OFFER
Use the proper documents and write a strong offer.
Use the proper documents to protect yourself.
REACH A MUTUAL AGREEMENT
Negotiate the deal with the seller or seller's agent.
There may be counter-offers along the way to acceptance.
Follow up with your lender or mortgage consultant.
ESCROW
Open escrow: here an escrow agent will help process the transaction and the funds.
Get the loan process rolling & Start the closing process.
TITLE INSURANCE & ENCUMBRANCES
Your title company will conduct a title search and provide title insurance.
Your title company will identify any encumbrances, such as liens, easements and CC&Rs.
Here in Washington, many companies do title & escrow.
INSPECTIONS AND CONTINGENCIES
Inspections should begin as soon as possible after mutual acceptance
because time is of the essence.
Hire a professional to conduct a home inspection including a pest inspection.
Conduct a septic inspection if necessary.
Other areas that may need to be inspected by a specialized professional include:
Electrical systems, the foundation, plumbing, heating, appliances,andothers
Follow up on your financing to be sure you can perform on your end of thedeal.
Check your Financing Contingency and keep your earnest money safe.
FOLLOW-UP
Follow up with your lender.
Follow up with your escrow agent.
Make sure any potential hassles are identified early.
CLOSING
Sign the final closing documents.
Take possession of your new home.
As your agent, I would be happy to help take you through the process.
Give me a call 360-319-7391
Have a supergood day,
Mike
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The Home Buying Process
