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Angela Waller
Exit Preferred Realty
2105 Laurel Bush Road #110
Bel Air, MD 21015
Phone: 443-562-4825
Email: angelaowaller@gmail.com

THE HOME PURCHASING PROCESS

Home buying is an exciting transition in the next level of your life. You can already imagine the holiday gatherings and cocktail nights at your new home. Well it's also important to make informed decisions throughout the home purchasing process. Here are the basics:

1. Get Preapproved! 

  • What does it mean to be prequalifiied or preapproved?

According the Consumer Financial Protection Division,

Prequalification is a lender’s estimate of how much you could be eligible to borrow based on information you supply. Prequalification does not mean you will get the loan. Prequalifications are usually free.

Preapproval usually means that the lender is ready to make you a mortgage loan based on the information and documentation you provided at the time you requested a preapproval. The preapproval will say how long it is valid for and may contain some other conditions for you to get the loan. Your lender may not require that you pay any fees except the cost of a credit report at this time.

If you don't want to select a bank just yet, use your current monthly rent to determine approximately how much house you can afford. Contact me

Be confident in selecting and submitting an offer on your dream house! Get pre approved today! Contact your bank or I can provide you a list of local mortgage lenders. Contact Me

2. As Your Realtor, Let Me Know You're Ready to Look for a House.

I WILL....

  • Listen to the needs of you and your family
  • Create a wishlist of desirable featurees 
  • Assist you in finding the RIGHT home with the RIGHT price
  • Help you make an offer and sign a purchasing agreement

3. Home Inspection and Home Appraisal

It is highly recommended that buyers get a home inspection once both parties sign the purchasing agreemen. The certified home inspector will take an in depth look at the basic sytems of your house to reveal any deficiencies or safety hazards.

During this same time period, the bank or lender will require a home apparaisal.  This is a written estimate of the home's current market value.

Home Stretch...

4. Title Search

Once we know the home is safe and valued at the agreed price, you will select a title company.  The title company conducts a seach for any outstanding liens or debts on the house. It is highly recommended that you get title insurance with your mortgage. Title insurance is the best gurantee that you will retain the rights of ownership. 

5. Closing

A closing agent coordinates the paperwork, exchanges funds and gives you the KEYS to you new address!

So what's your new address? Contact me today!

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