THE BUYING PROCESS

 

Once you have found the home you can see yourself in, there are several steps to the buying process you will go through before you can officially call it yours.

 

HELPFUL CHECKLISTS:  PRE-APPROVAL  |  HOME NECESSITIES  |  MOVING

 

PRE-APPROVAL

Meet with one of our Preferred Home Lending mortgage representatives to become pre-approved. This process will not only pinpoint the price range for your search, but give you a negotiating position for when you put an offer on the house.

NECESSITIES

After you pinpoint the features you are looking for including size, style, features, location, accessibility to schools and other personal preferences, you're ready to meet with an agent.

HOME SEARCH

Your agent can provide you with homes that match your criteria, but you also have full access to the MLS System through this site. Register for Property Watch to save your favorite homes, store notes and receive automatic emails of new homes that match your search. Set appointments with your Select Properties agent to tour any home in the area.

Your agent can supply information on real estate values, taxes, utility costs, municipal services, neighborhood demographics, school data, and even alert you to proposed zoning changes that could affect your decision to buy.

PURCHASE AND SALE AGREEMENT

Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties.

INSPECTIONS

Once a buyer and seller reach a mutual agreement on a property, a home inspector is brought in to determine if the home needs any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.

NEGOTIATIONS

Negotiations can involve everything from settling on a sales price to concessions and financing. Select Properties agents are great negotiators whose job it is to represent your interests during the entire real estate transaction.

FINANCING

You should already be pre-approved, but now that you're closer to the actual purchase price, you will be working more in-depth with your lender on your final loan approval. To learn more about this process, pay a visit to our Mortgage Center.

TITLE INSURANCE

You will receive a full report detailing the property history for you and your lender to ensure there are no legal problems between a new owner and the property being purchased.

ESCROW

Once the offer is accepted and a closing date agreed upon, escrow allows the buyer and the seller to have an outside party ensure all parts of the contact are complete. Your agent can help coordinate the completion of all forms to the escrow company and monitor the escrow process until the completion of the transaction.

CLOSING

At closing, all of the paperwork is signed by the buyer and seller- both parties pay any settlement fees and the documents are officially recorded. Prior to closing, you'll receive a settlement statement outlining any fees which may apply to you. After closing is finalized and recorded, the home is yours! Enjoy!


CONTACT

Ready to take the next step? Let's get started today!

Berkshire Hathaway HomeServices Select Properties in St. Louis offers an easy one-stop mortgage service through our partnership with Preferred Home Lending that allows you to interact directly with loan officers located in our branch offices.
Select Leasing & Management offers a multitude of leasing and property management services with superior service to both renters and landlords.
Gain valuable peace of mind and avoid unnecessary expenses by utilizing one of HSA Home Warranty’s comprehensive home warranty programs.