Navigating from contract to close to achieve homeownership is like steering a boat. The process of reaching your goal needs discipline, determination, and diligence without getting off course by being distracted by outside influence. The process involves:
- Professional guidance
- Creative thinking
- Problem-Solving
- Careful listening
- Reading the contract
No matter where you buy, what size you buy, how many articles there are on the topic of buying a home, it takes discipline to help guide you to your destiny.
Part 1
Identify a REALTOR® who is highly qualified and has experience and credibility. The same is true if you need a mortgage lender. No matter what others say, there are no two transactions alike. When it comes to navigating from contract to close, stay out of deep water and avoid capsizing. Nobody wants to sink.
Part 2
Money talks. Make your best first offer. When it comes to sales price, sum of financing, and sales price, put up or shut up. Buying a home is not a game. Real people are involved in the decisions you make. A home is an investment. Buying a home really can be fun! Follow the Texas REALTORS® link authorized by TX REALTORS® to share "What you should know about Earnest Money."
Part 3
- Do not skip deadlines - time is of the essence.
- Do not skip the Home Inspection - preexisting or new construction.
- Do not skip or waive the appraisal - unless you fully understand.
- Do not skip! *Read the Title Commitment - Sections A, B, C matter.
- Do not think a new survey doesn't matter.
* "A Title Company is an Insurance Company. It provides a buyer and lender terms and conditions for how the final title policy will be issued. Title insurance offers protection from certain defects or errors in the title policy."
Source: Texas National Title
* "Title Commitment provides 1) Actual facts, record owner, legal description, sales price, name of lender, if applicable. 2) Buyer notification (lists general and specific exceptions to the property, i.e., survey (taxes, easements, setback lines, etc. 3) Clear in order to close. These items might include mortgage pay off that will be paid at closing, liens for home improvements or unpaid taxes. All items on Schedule C should be discussed and resolved before closing. 4) Disclosure - outlines the ownership of the title company and all parties who will share in any part of the insurance premium collected to issue the policy, including underwriters, title agents and attorneys.
Source: www.republictitle.com
Part 4
Provide all documentation as needed on time. Read, review and follow the process to closing. The best part of navigating successfully from contract to close is when you receive the keys to your new kingdom!
"True navigation begins with the human heart. It's
the most important map of all." ---Elizabeth Kapu'uwailani Lindsey
This is entry #2 for the September 2023 Challenge hosted by AR Dr. Paula McDonald and Kathy Streib.
*I wish to express my appreciation for reading and leaving comments on my blog post. Photography & Real Estate are my passion. Sources are noted. Content is original by Patricia Feager, REALTOR,® Blog author. All rights reserved. All information is deemed reliable; however, it should be independently verified by the reader. Any reproduction of this blog or use of AI is strictly prohibited.
Comments (17)Subscribe to CommentsComment