The real estate professionals at Bella Realty Group commit to deliver the highest level of service to every client we represent. To ensure your purchase process is as smooth as possible, we would like to suggest the following steps:
We suggest that you pre-qualify for a loan. This process will benefit you by:
establishing the price range of property you can capably purchase
outlining the types of loans you can qualify for
determining what your monthly payment will be
estimating your down payment and closing costs
Finding and Choosing Your Property
Our professionals will offer you a thorough approach to buying property designed to achieve your goals. Your Bella Realtor® will discuss your needs with you to establish personalized search criteria. Once your real estate professional has researched, identified and previewed suitable properties, appointments are set with you to view them.
Making an Offer
After you have chosen the property you wish to purchase, your Bella Realtor® will help you structure an effective offer. Working together with your real estate professional, you will arrive at the price and terms you wish to offer. This is a critical step in the purchase process and your Realtor® will expertly handle negotiations on your behalf.
If the seller does not consider your offer acceptable, they may make changes and submit a counter-offer. The expertise, experience and professionalism of your Realtor® are valuable assets at this stage as they negotiate on your behalf for the best purchase price on your property. Your real estate professional will explain the purchase process and familiarize you with the steps you will experience as well as the necessary documents.
Managing the Escrow
When the purchase agreement is accepted and signed by all parties, your Bella Realtor® will implement the closing process, from scheduling inspections to all of the interim steps leading to closing. If you are financing the Property, we will notify the Lender and deliver a signed Contract to your Loan Officer. The Lender will proceed with ordering the appraisal and implementing the loan process.
During the contingency period, we recommend ordering a thorough inspection of your pending property purchase. The inspection can help ease your concerns and answer any questions you may have. Inspections are typically performed by licensed contractors, often certified and provide an in-depth report describing the condition of the property. A termite inspection is recommended as well. Once the contingency periods have expired, your real estate professional will forward you a list of the utility companies and schedule a final walk through of the property prior to closing.
We advise our buyers to purchase a fire and hazard insurance policy prior to closing. In many cases the lender requires the first year’s insurance premium be paid in advance at closing.
Escrow Fees and Title Insurance
The buyer and seller may negotiate who pays the title and escrow fees in the contract. Typically, the owner’s policy is paid by the buyer and covers their interest and title to the new property. The buyer also typically pays for the lender’s policy that covers the new lender’s interest in the title to the property.
The closing attorney will receive, hold and disburse all funds associated with your transaction. When all of the conditions of the purchase agreement have been met, the loan documents and closing paperwork will be executed. The attorney will help ensure the closing documents are executed by all parties and recorded at the County Clerk’s office to reach a successful closing.