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TAKING ACTION -home buying

                                                                                                                                 

                                                                                                                                

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                       SECOND  --  FINANCING

You started working with a lender  earlier, and  need only finish that work now. The contract is given to the lender to begin this. You will work with your lender, mostly by the phone. The lender is in contact with ‘many’ parties and a much follow up checking is good, and Chris will tend to this, but will need  your vigilance as well. Problems  in real estate transactions, can occur in the communication  (and mis-communication)  between the lender, the realtor, the closing agent on the one hand and all the many parties  that are  involved with these  three  on the other hand. Chris will help you  to maintain  communication  with your loan representative,  your title agent  and other parties - if we don’t hear from them, we will make a call to see all is well.

What are some of the  operations  that must be coordinated in this period:  compliance with all contingencies must be fulfilled, inspections  will be done,  remediation for inspection-detected faults, all required association memberships made, appraisal is done,  written mortgage  commitment  issued, land and building survey is done,  title insurance is written,  hazard insurance is written,  all needed  walk-thoughs completed,  closing package completed by lender and title agent, and even more.   

The costs pertaining to GETTING THE MORTGAGE, are laid out in Mortgage Info - Items Charged for in MORTGAGES.   The costs pertaining to GETTING THE HOME, and not pertaing to getting a  mortgage, are layed out  in the next step 3 on closing costs, on the next page.

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