Larry D Gilbert

Larry Gilbert, Beech Grove IN Managing Broker

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Specialties:

Buyer's Agent
Listing Agent
Consulting
FHA 203k Specialist

Work:

Beech Grove Realty
201 Bethel Ave., Beech Grove, IN 46107
(317)7846386 (Office), (317)6912438 (Cell)

Experience:

31 years

Description:

Potential home buyers are, of course, very interested in the process involved between their decision to buy and their moving into the new home. I will try to simplify as much as possible while still being informative and accurate. Situations do differ, but hopefully this will give you a good idea what you will be going through. 1. It would be to your advantage to check your credit. You can get one free report every year by visiting annualcreditreport.com. Check it over dispute any potential errors that could lower your score. 2. Find an experienced real estate agent and lender. The process will go much more smoothly if you involve your real estate agent as early as possible. He or she will most likely know knowledgeable and trusted lenders they have worked with before and who will do you a good job. You should also feel free to shop other lenders for the best rates and terms if you wish to do so. At this point you should have the chosen lender pre-qualify or pre-approve you for a mortgage amount. This will show potential sellers that you are a ready and able buyer. 3. Shop for your home. Make a list of things that are important to you. How many bedrooms and bathrooms do you need? Which neighborhoods or areas would be acceptable to you? Would you want a large yard or small? Share the list with your real estate agent so they can begin to search for possible homes that would be acceptable to you. 4. Make an offer. Your agent can get a list of comparable homes in the area and their sale prices to help you arrive at a good starting point. Once the offer is made the seller has three options. They can accept it as written, make you a counter-offer, or reject it. If they counter, you will have the same three options for your decision. Once you have arrived at the price, you will make an earnest money deposit which is often referred to as good faith deposit. This will be held in the listing agent's escrow account until closing when it will be applied to your down payment. 5. Now sit back and take deep breaths. Your lender will be working hard getting your final mortgage approval and preparing the closing package. Your real estate agent will let you know when you need to purchase your first year's home owners insurance policy and order a home inspection. The survey, appraisal and title insurance will be ordered for you. 6. Close on your home. The agents involved in the sale will obtain a closing date that is mutually agreed upon by you and the seller. On closing day, your real estate agent will accompany you and the process normally goes very smoothly. The buyer signs mortgage papers and other documents while the seller signs a deed and vendor's affidavit giving you ownership of the property. At this time you will get your keys, unless you have agreed to give the seller a specified number of days in which to move from the home. 7. Move in! This is a day you will remember for the rest of your life. No more landlord collecting rent. You can get a pet if you want. Decorate however you please. Paint whatever color you want. Enjoy the increasing equity in your home, the privacy and the new found security. If you have any questions regarding the process or would like to start by obtaining pre-approval, please give me a call at 784-6386 or email me at [email protected].

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