Tyler Minges Home Buyers Guide 2017 Home Buyers Guide | Page 21

THE BUYER’S JOURNEY | 18
FINANCING/INSPECTIONS
INSPECTIONS
There may be issues found in the
inspection that are hidden from normal
observation. These issues may be minor
or they may be major enough for you to
cancel your outstanding offer to purchase
and begin looking for another home.
REPAIR REQUESTS (if any)
It is FAIR and REASONABLE for you, the
buyer, to ask that repairs be made after the
home is inspected. Most sellers will do the
repairs.
TITLE WORK
Banks, mortgage companies, and cash
buyers want to know that the legal property
they think they are purchasing is correctly
identified and clear of all legal liens.
APPRAISAL
Banks, mortgage companies, and cash
buyers often require an independent review
of the value of the home or property being
purchased. This is a NORMAL part of the
buyer’s journey.
92%
OF BUYERS
who financed their home purchase
used a fixed-rate mortgage product. 1
CLOSING/POSSESSION
SCHEDULE CLOSING
Once the financing and inspection phase
is complete, a closing date is set for the
parties involved to sign the official legal
paperwork and transfer of money between
parties.
FINAL WALK-THRU
As a buyer, you want to have a final walk-
thru before you sign the papers.
CLOSING
This is where you meet to sign the legal
papers to transfer ownership and write
checks for any monies due at closing. This
is where you get to move forward towards
the life you want for yourself and your
family members.
TAKE POSSESSION
This is where you take the keys you got
at closing and walk into your new home
or property as the new legal owner.
CONGRATULATIONS...this is the American
dream.
61%
OF BUYERS
said their real estate agent was
essential in helping them understand
the buying process. 2
Tyler Minges, HUFF Realty | BUYER’S GUIDE TO REAL ESTATE