When buying a home, there are several steps, but if broken down, it's much less intimidating. What else helps? Doing the steps in a particular order.
For example, Buying a house in Austin TX, the Simple Steps to Follow- Part 1 of this series talked about getting Pre-Approved for a mortgage, while Part 2 talked about how to start looking for houses and neighborhoods. Part 3 talked about actually looking at the insides of houses, while Part 4 talked about writing the offer. And the latest was Part 5 where I talked about the inspections.
There's more to the process? I just did everything... I got approved, I looked at neighborhoods and found the pefect house, we wrote the offer and ran inspections. What more could there be.
The next step is the waiting game...
You get to wait and wait and wait while things are done on the back-end that you never see. For example, once the inspections are complete and a repair amendment is negotiated, I then call the lender and tell them to order the appraisal. The appraisal shouldn't be ordered until you know for sure you're moving forward on the house because that's money you'll never see again.
The lender is also ordering the title policy from the title company and we're reviewing it to make sure there are no outstanding liens that would hold things up. As your agent, I'm also gathering the survey from the seller and getting it approved by the lender and the title company to make sure you don't have to spend money buying a new one.
As you're waiting, what things should you should NOT do? Do NOT go buy anything for this new house. That includes, but is not limited to furniture, washer and dryer, and new car! Do not charge anything on credit cards that would substantially alter your pre-approval as the lender will be pulling your credit again prior to closing to double check.
Do NOT quit your job!! If you need to change jobs, let your lender know before you do it because that's going to change things, especially if your income changes or you move into a different profession.
What can you be doing during this time? Call to secure your home owner's insurance. Start looking at home warranty companies. Call the utilities and start getting things put into your name for a specific date.
Yes, it's a waiting period, but it doesn't mean nothing is going on.
Get out your pen and paper for Part 7 of buying a house in Austin TX.
**Are You Packed Yet?**
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
** #1 Agent in my Office for all of 2008 **
Copyright© 2009 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Real Estate - Buying a House - Austin TX- The Simple Steps to Follow- Part 6 * was first published on donnahomesblog.com