To help you in purchasing your new home we want you to be aware of the process and what YOU will need to do to bring the property to closing. (Purchase)
1. You place an offer on a home or property
2. You will wait until the offer is accepted or a counter offer is made by the sellers. Usually this takes 1 to 2 days.
3. You will counter back or accept the contract. Another 1-2 days
4. You have a date on your contract, which tells you that you must have a “commitment letter” from your mortgage company in the hands of the sellers to keep the contract valid. You must get the commitment letter on time. If you think that it will be late, you must let your agent know!
5. You need to order a home inspection. Your agent will provide you with a list of inspectors, if you wish. Usually this takes place within a few days of the order. You will be notified of the scheduled date for the inspection. A termite inspection will be ordered as well and done at the same time. YOU are charged for both inspections. It is usually totals between $200-$500 for both.
6. You will receive a detailed report of the condition of the home you are purchasing usually within 3 days of the inspection. When you get the report, immediately contact your agent and let him/her know about any concerns you have. There is a limited amount of time on your contract that allows you to “WORK OUT” the inspection report concerns with the sellers. If you don't let your agent know right away what the problems are you will loose your chance to get it resolved before the closing of the house.
7. You will need to secure insurance on the home. Any insurance company in Cape Coral or Ft. Myers will be fine. Here are three numbers of insurance companies
|Barton Insurance||(239) 542-5300|
|Allstate - Kevin Schuman||(239) 542-5700||http://agent.allstate.com/KevinSchuman2/Welcome|
|Carlock Insurance||(239) 549-0221|
A financed home can not close without the insurance binder in the hands of the mortgage company or title company.
Note: If you are purchasing a house during hurricane season (June through November), be aware that the insurance binder must be obtained right away. If there is a tropical storm brewing or hurricane in the area, and the area is included in a “box” from the National Weather Service, the home will not be able to be insured until the “box” is lifted and this could delay or STOP the purchase of your new home.
8. Do not forget to change the utilities into your name. This should be done ahead of time and made effective on the closing date. Check out the Important Phone Numbers here!