Are you thinking of buying real estate in Downtown Tampa? Let us help you find the right property while taking the weight off of your shoulders. If financing is needed we have a team of lenders that can assist you in making the right choices while being competitive, hard working, and professional. Along with lenders we have established relationships with trustworthy inspectors, insurance agents, and anyone else that you may need to close the deal. Before closing on your dream home there are a few steps along the way.
Step 1- Get Pre-qualified for a home loan- If you're not buying your home with cash you will need to speak with a knowledgeable lender who can help you get pre-qualified and choose a down payment amount that works for you. This is an important step because to put an offer in you will need either a proof of funds or a pre-qualification letter.
Step 2- Start your home search- To better serve you, we will need to get a wish list from you to narrow down properties that will interest you. The more information we have, the better job we can do in helping you find the right property.
Step 3- Make an offer- Once you have found the right property we will pull comps and make sure that you're putting together the best offer possible.
Step 4- Deposit Escrow and the start loan process- After your offer is accepted you will need to deposit your escrow with the sellers title company. The escrow deposit is a good faith deposit to let the seller know you're serious about buying their property. At closing, your escrow will be applied to your down payment or closing costs. To start the loan process, you will get with your lender and submit a loan application from their your lender will get everything from you that is needed to close the loan.
Step 5- Inspections- In every purchase contract there is a inspection period. Most inspection periods are between 7 and 15 days. In this time you will need to do your due diligence and make sure the property is in good standing and has no issues that could prevent it from closing. During this period you may back out of the contract if you find issues and not lose your escrow deposit.
Step 6- Appraisal- After you have completed your inspection period the next step is to do an appraisal. The appraisal is ordered by your lender and it's purpose is to protect you from over paying for a property. The appraisal will let you know how much the property is worth and how much the lender is willing to lend you on a particular property.
Step 7- Insurance- To close your loan the lender will need to know who you're getting home owners insurance through to close the loan.
Step 8- Final walk thru and closing- Once your loan application is completed, approved, and every other condition has been met you will do your final walk thru inspection. This inspection is simply a walk thru to make sure the home is in an acceptable condition to close. Once this is completed we will then head to the title company to sign all the docs and close the deal.
If you have an questions or need help please contact me at (813)546-3726 or send an email to SouthTampaLiving@gmail.com to schedule an appointment so we can discuss more in further detail.