04.
Closing
This is your Project description. Provide a brief summary to help visitors understand the context and background of your work. Click on "Edit Text" or double click on the text box to start.
1. Secure Financing & Pre-Search
It’s important to know how much you can comfortably spend and be able to back that up with verification from a bank or lender. Different loan programs provide buyers with several down payment options. Nascent agents work with the most experienced lenders and inspectors in the business to ensure that our clients feel protected in their investment. Please note: Nascent agents require pre-qualification for a loan at minimum before placing an offer on a home. This is because in many instances, sellers will not even entertain an offer that’s not accompanied by a mortgage pre-approval. You do this by applying for a mortgage and completing the necessary paperwork. Our friendly and knowledgable agents can help guide you.
2. Search & Make Offers
Aside from knowing the specifics of the home (i.e. how many bedrooms, bathrooms, etc.), you should create a list of the top two or three neighborhoods that you you could picture yourself living in. Take into consideration your potential commute to work, where your friends live, and neighborhood amenities like restaurants, transportation, schools and grocery stores. Once you find a home that you want and put in an offer, know that Nascent agents will fight hard to get you as much as possible.
3. Inspections & Escrow
Once your offer has been accepted the next step are inspections and getting your loan through underwriting.
We cannot over-emphasis the importance of an inspection. Even if the home that you plan to purchase appears to be flawless, there’s no substitute for having a trained professional do a home inspection of the property for the quality, safety, and overall condition of your potential new home. You don’t want to get stuck with a money pit or with the headache of performing a lot of unexpected repairs. If the home inspection reveals serious defects that the seller did not disclose, then you’ll generally be able to rescind your offer and get your earnest money back. Alternatively, you can negotiate to have the seller make the repairs or discount the selling price.
​
Things that you’ll be dealing with and paying for in the final stages of your purchase may include having the home appraised (mortgage companies require this to protect their interest in the house), doing a title search to make sure that no one other than the seller has a claim to the property, obtaining private mortgage insurance & completing mortgage paperwork. Other closing costs can include loan origination fees, title insurance, surveys, taxes, and credit report charges.
4. Closing
Before closing, you will walk through the property with your real estate agent and make sure that everything is in order. If the seller agreed to make any repairs, the walkthrough is the time to ensure that the seller has actually completed them.
Then, review your Closing Disclosure. It will outline the terms, final closing costs and any outstanding charges or fees included in your loan. Your lender will send the disclosure to you at least 3 days before closing.
During closing, the property title will pass from the seller to you. A closing agent will oversee this process, which typically takes place at a title company, management firm, escrow office or your home.
The closing agent will ensure that all necessary parties are present at closing. The agent acts as a mediator between you and the seller and confirms that all required documents are signed. Once documents have been signed, the agent will ensure that all funds – including closing fees and escrow payments – are paid and properly disbursed.
Do you have questions? We have answers.
Drop us a quick email and our agents will follow-up with you.
Get In Touch
Take the first step by connecting with a local expert.
Address:
Nascent Realty 5718 Westheimer Rd. Ste. 1000
Houston, TX 77057
Phone:
713-822-0105
Email:
MADE WITH PRIDE IN HOUSTON
WE LOVE REFERRALS
Our greatest achievement is earning your repeat business and referrals.