Single Family Home Buying Process In Cottage Lake

You’ve found the single family house in Cottage Lake you can see yourself living in, now what do you do? There are several steps to the real estate home buying process you will go through before you can actually call it yours.

Cottage Lake House Purchase And Sale Agreement

Single Family Home Real Estate Buying Agent Cottage Lake, WA 98077

Single Family Home Real Estate Buying Agent Cottage Lake, WA 98077

Once an offer on a property 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.

Single Family Home Inspection In Cottage Lake, WA 98077

Once a buyer and seller reach mutual agreement on a property, a home inspector is hired to investigate every detail 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.

Buying Negotiation

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 Single Family Homes

You may already be pre-approved, but now that you’re closer to the actual purchase price, you’ll be working closer with your bank on your final home mortgage loan approval. To learn more about this process, pay a visit to the Financing tab on home page.

Single Family Home Title Insurance

You will receive a full report detailing the Cottage Lake home history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.

Escrow

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 home purchase is done.

Home Closing

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, typically at a escrow company located nearby Cottage Lake. In advance of to closing, you'll be given a settlement statement detailing any fees which may apply to you. After closing is finalized and recorded, the Cottage Lake home is yours!