Typical Progression When Buying Real Estate:


1. Get a financial letter from a local lender stating your qualification  limits BEFORE you start looking for property.

2. Gather as much data directly related to the target property/surrounding area, and contract property w/ Sellers.

3. Buyer's earnest money (good-faith deposit) is placed RE/MAX Ocean Realty's trust fund.

4. Lender orders appraisal (buyer or agent might order an appraisal if it's a cash deal). Only a bank can order an appraisal for your loan (and generally not transferable).

5. All inspections: home, termite, and health/septic, & well most common are ordered after an acceptable appraisal is received. If time is a factor, and we're confident the home will appraise, inspections can be done earlier.

6. Repair issues on any property inspections are negotiated with the Seller if necessary.

7.  Termite inspection is ordered but must be done within 30 days of closing--for a sketchy contract we delay it.

8. Surveys are ordered as quickly as possible after a successful appraisal - buyers don't want to invest too much into the property until they are sure it's a go.

9. Buyer begins to shop for home owners, flood, hazard insurance &  info goes to the lender & closing attorney.

10. Nearing closing date, Buyer/Seller will arrange for utilities to be switched over so there is no lapse of service.

11. Closing takes place at the office of the buyer's attorney. The seller's attorney, if different, has already forwarded signed deeds to the closing attorney.

12. Buyer gives attorney certified funds to pay for closing; signs loan papers or other required documents.

13. Attorney records deed at the courthouse & disperses funds: Seller's proceeds & payoff of mortgage, agency fees, surveyor fees,  inspection fees, tax payments, etc.