Make An OfferAfter you have found the right home you will work with your real estate agent to negotiate an offer that is based on the value of the home and comparable to the value of the homes in the same neighborhood and home type. When you have reached an agreement on the price, the home with go into escrow. Escrow is the period of time it takes to complete all of the final steps in the home buying process.
Get a Home InspectionIn many cases, the purchase offers are contingent on the home inspection. A home inspection will check for signs of structural damage as well as things that may need to be fixed. Your real estate agent at Lake of the Ozarks can assist with arranging the inspection, and it is generally conducted within a few days of your offer being accepted by the seller. The contingency is there to help protect you as a buyer by giving you the chance to renegotiate your offer, or even withdraw it without a penalty if the inspection reveals significant material damage.
Work with Your Mortgage Lender to Select Your Loan ProgramThis is the step where Team Lasson really gets to shine in the home buying process! We will provide a range of competitively priced loan programs for you to look over. As you have questions about the loan options, we can provide exceptional customer service and experience to assist you in making the process easier. Every home buyer is going to have their own priorities when choosing a mortgage. While some are interested in keeping monthly payments low, others are going to be interested in making sure that their monthly payments never increase, still others will want to pick a loan based on the knowledge that they will be potentially selling the home again in a few years.
Have the Home AppraisedOur team will arrange for an appraiser to provide an independent estimate of the value of the house that you are buying. The appraiser is a member of a third party company and will not be directly associated with anyone involved in the transaction. After the appraisal is completed, they will provide a report regarding the value of the property so you know that you are paying a fair price for the home.
Time for PaperworkIt is no surprise that there is a lot of paperwork involved when buying a house. During the contract negotiations, a title company will be selected to handle all of the paperwork and they will make sure that the seller is the rightful owner of the house that you are purchasing and will provide a title commitment showing all documents and/or liens that are filed of record against the property.
Closing Time!When it comes time to close on your home, you will sign all of the paperwork required to complete the purchase, including the loan documents. Once the check has been delivered to the seller, you are ready to move into your new home!
purchasing a second home at Lake of the Ozarks, we would be honored to assist you. Now is a great time to purchase a new property! Visit our website to learn more about us (www.YourLakeLoan.com) or to fill out an application!
For Lake area news, resources and tips on financial services, please
Senior Loan Officer
NMLS #: 493712
4655 B Osage Beach Parkway
Osage Beach, MO 65065
**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.