Friday, June 26, 2015

Our House-Buying Story Part III

The closing of our home was scary, but worth it. Our real estate agent put in an offer to the seller. We actually chose our real estate agent thanks mostly to our gut feelings. She had been one of the first to respond to me on Trulia. She got us into homes we wanted to see super quickly, always responded to us in a timely manner, and seemed like a real go-getter. We are so thankful she was our real estate agent.

The seller countered our offer. We put in another offer, asking the seller to cover a certain amount of closing costs. They agreed and the process began.

We put in an earnest deposit. This typically runs $500-$1000. This money signifies that you are serious about the home and takes it off the market. This is money you receive back at closing. 

The entire process took about two months. We had an inspection of the home during the month of May along with a mold test. The inspection is not required, but is definitely a good idea. They typically run $300-$500. Tests like radon and mold are extra. We went with an inspector that our real estate agent recommended. The inspection allowed us to create a list of items we wanted the seller to fix and alerted us to any problems in the house. The seller is not required to fix any of these things, but ours thankfully did so. If the seller agrees to fix the items, they are put in the contract and the seller must fix the items before the closing date.

After our inspection, there was the appraisal. The appraisal was conducted by our mortgage lender and assured us that the home was worth what the seller was asking. Everything in our inspection and appraisal checked out. We continued to sign a bunch of paperwork and waited for our closing date.

The day before closing we walked through our home to make sure the seller had fixed everything in our agreement. On the day of closing we walked into law office, review our contract, signed our final paperwork and walked out with the keys.

Every home-buying process is different. Ours was incredibly easy thanks to our fantastic mortgage lender, awesome real estate agent, and co-operative seller. Find people you trust, do your homework, and go with your gut. We love our home and cannot wait to create memories here.

P.S. Thanks to everyone who helped us move! 

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