You’ve found the single family home in Cottage Lake you can see yourself living in, now what? There are several steps to the real estate home buying process you will go through before you can officially call it your own.
Cottage Lake House Purchase And Sale AgreementOnce an offer on a house 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 by the signing of the document.
Home Inspection In Cottage Lake, WA 98077
Once a buyer and seller reach mutual acceptance on a property, a home inspector is hired to research all aspect to determine if the house is in need of 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.
Negotiation is the key to getting the best deal. Negotiations can involve everything from settling on a sales price to concessions and financing. Tracy Lewis is an expert negotiator whose job it is to represent your interests during the give and take of a home real estate transaction.
Financing For Cottage Lake Homes
You may already be pre-approved, but now that you’re closer to the actual purchase price, you’ll be working more in-depth with your bank on your final loan approval. To learn more about this process, pay a visit to the Financing tab on home page.
You will receive a full report detailing the Cottage Lake property history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.
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. Tracy will coordination the completion of all required papers to the escrow company and monitor the escrow process until the transaction is finished.
At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded in King County, usually at a escrow company located close Cottage Lake. Before to closing, you'll receive a settlement statement spelling out any fees which may apply to you. After closing is finalized and recorded, the Cottage Lake home is yours!