HOME BUYING PROCESS
In The State of Montana
We realize the home buying process can seem daunting. To set your mind at east, we want to provide you with the steps of this process. While each transaction is unique and different, these steps are the basic overview of the home buying process.
Step 1 - Visit With Your Lender First. Always.
Make sure you are qualified to purchase a home and/or visit about the steps you need to take in order to become pre-qualified. This also provides you with information about your lending capacity and the price range you can begin shopping in.
Step 2 - Meet With Your Realtor
Go over the relationships in real estate for the state you are purchasing in. Sign the necessary documents to hire them as your Buyers Agent.
Step 3 - Shop Homes
Look at homes with your agent and find one you can fall in love with!
Step 1 - Write An Offer
With your realtor's help, draft a strong and competitive offer which will give you an edge in our robust market.
Step 2 - Counter Offer
There is a strong possibility that your initial offer will be countered. When this occurs, have a discussion about it with your real estate agent. If it's satisfactory, accept it! If not, re-write an offer.
Step 3 - After Your Offer Is Accepted
Once your offer is accepted, Holly, our Transaction Manager, will help get earnest money deposited and your title insurance ordered. She will also mail you copies of all the documents you have signed and make sure your offer is sent to your lender.
Step 4 - Inspection
You will receive an email with a list of our preferred inspectors. It will be your responsibility to call an inspector and schedule the inspection process. Your real estate team will ensure access to the home, and will help you review the inspection report once you receive it. If there are items on this report you want the seller to fix prior to closing, your real estate agent will hep you prepare an inspection notice to present to the home seller. The seller does have the right to re-negotiate these items. The process is similar to the offer/counter-offer process.
Step 5 - Be Patient
At this point, it's a waiting game. Your appraisal has already been ordered by your lender, so we are waiting for it to be completed.
Step 6 - HUD
When all of the above steps have been completed, the title company will be notified and will prepare a HUD statement for your to review. The HUD statement is an outline form of where all monies come in and are dispersed for your specific transaction. The lender will review it, as well as your agent, and both can answer any questions you may have.
Step 7 - Closing Day
Closing day! Congratulations, you own a new home!