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Hi, we just accepted a counteroffer by the seller on a house.
What are the next steps and the order of the process to get to closing?
Your Realtor should be helping you with this. I sure hope you have representation as it sounds like you are not familiar with the process and are in need of representation by either a Realtor or an attorney.
I have a real estate agent. But the next step is conflicting between lender and agent.
The real estate agent says the next step is some sort of go ahead from the lender. The lender says the next step is the inspection that the agent should arrange.
WHOA -- is this an FHA deal? If the lender needs an inspection it may very well be.
If NOT the inspection is for your protection and at your discretion. I generally recommend an inspection BUT if your agent DOES NOT KNOW what come next in EITHER an FHA or NON-FHA situation you are going to have some capital P PROBLEMS.
The folks here can answer lots of questions but if your agent is cluesless you have to really study up.
Ok my agent emailed me and he's setting up the inspection for next week. I think he just wanted an assurance that the loan can be approved. He was like I don't want you to spend a few hundred bucks on an inspection and not know whether a loan can be done.
Maybe from an agent's perspective, he doesn't know whether our finances are in order.
Ok my agent emailed me and he's setting up the inspection for next week. I think he just wanted an assurance that the loan can be approved. He was like I don't want you to spend a few hundred bucks on an inspection and not know whether a loan can be done.
Maybe from an agent's perspective, he doesn't know whether our finances are in order.
Did you not have a pre-approval from the lender? These are the steps that I follow when working with buyers:
1)Pre-Approval
2)Search for properties in your price range and area desired
3)Present an offer and negotiate the price and terms if necessary
4)Home Inspection (most offers should be made with the home inspection clause unless the buyer is an investor, etc.)
5)Negotiate repairs that need to or you want to be made
6)appraisal
7)Mortgage Commitment, home owners insurance, title search, etc.
8)Settlement
Did you not have a pre-approval from the lender? These are the steps that I follow when working with buyers:
1)Pre-Approval
2)Search for properties in your price range and area desired
3)Present an offer and negotiate the price and terms if necessary
4)Home Inspection (most offers should be made with the home inspection clause unless the buyer is an investor, etc.)
5)Negotiate repairs that need to or you want to be made
6)appraisal
7)Mortgage Commitment, home owners insurance, title search, etc.
8)Settlement
Hope this helps.
Thanks that helps. I just needed to see it in writing. My agent was telling me the other day but I was exhausted from work and I am more visual. Just needed to see the steps in writing. And the contract has so much information.
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