1. Make an appointment to speak with a real estate representative. He or she will get to know your wants and needs and will also determine your homeowner qualifications
  2. Your sales representative will show you a number of homes, and you will learn more about the type of home that appeals to you.
  3. Narrow your choice down to one home. Your sales representative will prepare a binder to initiate the negotiation process. Once you and the seller have agreed to price and terms, the binder will be signed by both parties.
  4. A real estate contract is a conditional contract which means that the sale will become firm and binding only when all conditions in the contract in the contract have been met or waived.
         Typical conditions are:
                  Termite inspection - usually within 7-10 days
                  Mortgage approved - usually within 30-45 days
  5. Inspections (termite/carpenter ant, septic, and/or well water) are strongly recommended. Some lenders will not approve a mortgage loan without certification that the home being purchased is free of wood destroying insects.
  6. Your sales representative will provide information on the availability of mortgages, types of loans, current rates, required down payment, special sources of loans, etc.
         Most lenders will require all or most of the following:
           * Complete application and application fee
           * Verification of employment and income
           * Verification of cash deposits (down payment monies)
          * Appraisal of the home being purchased
  7. An attorney is required to close title.
         The following are typical attorney functions:
           * Review contract, approve, disapprove or make modifications
           * Order a title search of the property as well as a judgment and lien search
           * Keep in contact with you and the seller's attorney,
               constantly monitoring the process of contact contingencies
           * Review all documents required by the mortgage lender
           * Conduct the closing of title at his/her office or bank
  8. The purchaser has the right to inspect his or her new home 24 hours before the closing. This final inspection is the purchaser's last opportunity to inspect the home before signing the deed. Title passes with the signing of the deed.
  9. You move in!

716 Church Street

Indiana, PA 15701


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