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Overview | Who Does What | Prequal vs Preapproval | Getting prequalified
| Home Buying Basics |
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| As you go through the home buying process, you will be working with many professionals who will help guide you along the path toward home ownership. Their responsibilities are as follows:
Your Verdeo Funding Loan Consultant will:
- Help you determine how much money you can borrow, and how much home you can afford.
- Find the best loan suited to your individual needs, along with the best rate and terms available.
- Order an appraisal of the property.
- Keep you and your Real Estate Agent informed of the status of your loan throughout the entire loan process.
Your Real Estate Agent will:
- Preview homes on the market to determine if they meet your needs.
- Schedule appointments to see homes that are to your liking.
- Help you determine if the asking price of the property is fair by comparing it to other recent sales in the neighborhood.
- Provide background information on neighborhoods, schools, and other conditions in the area you are interested in.
- Negotiate a good deal for you with the seller. A pre-approval from Verdeo Funding will help your Real Estate Agent prove to the seller that you are a good candidate.
- Arrange for a professional home inspection.
Your Appraiser will:
- Evaluate the property's value by visiting the house and reviewing the recent selling prices of homes in the area.
- Provide a copy of the appraisal to your Loan Consultant.
Your Home Inspector will:
- Provide a thorough search of the property to determine if there are any problems with the home that would affect its value.
- Check the entire interior and exterior of the house and its systems.
- Provide a detailed report of any problems, allowing you to negotiate with the seller about repairs before the final contract is signed.
Your Escrow Officer & Title Company will:
- Guide you through the transfer of the home's title into your name.
- Walk you through the closing of your home loan and the signing of all documents relating to it.
- File the change of title with the County Recorder.
Did You Know?
Once you have been pre-qualified or pre-approved it can be very risky to obtain any new lines of credit or increase your debt until your loan is closed. Making large purchases or opening any new credit accounts changes the credit history your approval was based on and you may lose your loan.
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Real Estate Broker, CA Department of Real Estate License # 01857487
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