Buying a house for sale might be the biggest investment of your life. Working with an experienced real estate agent makes the process go more smoothly. Here's what to expect during this exciting and complex series of events.   

3 Events to Expect When Purchasing Houses for Sale

1. Applying for a Loan  

Unless you're buying your house for sale with cash, you need to apply for a loan with a mortgage lender. You can expect that lenders will check your credit history, FICO score, and your income and debt. Your lender continues to monitor your spending through the closing date. To get the best deal on interest rates and repayment terms, talk with several lenders. Research your eligibility for special deals for first-time or repeat homebuyers, veterans, teachers, or first responders.     

2. Reviewing and Signing Paperwork

Completing the transaction when buying a house for sale involves lots of paperwork, from the purchase and sale contract, to the mortgage documents and the title. The lender will give you a Good Faith Estimate, which gives you an idea of what the loan will cost you.The HUD-1 Settlement Statement is a standardized form lenders use to itemize the charges and expenses for the buyer and seller.

3. Scheduling Inspections

To protect your interests, you should have the home inspected by a certified home inspector. The inspection will reveal any problems you can address with the seller. 

The mortgage lender will request an appraiser evaluate the home. An appraisal ensures the house for sale has a value equal to or more than the amount you are borrowing. Typically, buyers pay the inspector and the appraiser directly, and they deliver the reports to you.     

If you're considering a home purchase, work with an experienced and knowledgeable real estate agent at EXIT Realty Nexus offers. This team offers skill and top-notch customer service to residents of Coon Rapids, MN, as they have since 2004. From finding the best houses for sale in your price range to guiding you through the complex mortgage process, they strive to get you to the closing table with a smile. To read more tips, visit them online. Call (763) 548-1400 to schedule a consultation.