Selecting A Benicia REALTOR®
Your Real Estate Professional should be:
Most real estate professionals and mortgage lenders recommend pre-qualifying for a loan before selecting a Benicia home to purchase. I recommend getting pre-approved. I can help you select a mortgage lender.
The Loan Process
Application - All pertinent documentation is obtained. Fees and down payments are discussed, and the borrower will receive a Good Faith Estimate (GFE) and a Truth-in-lending statement (TIL), itemizing the rates and associated costs for the loan.
You will be asked to provide certain documents to your lender in order that your loan can be processed in a timely manner.
Loan Submission - Once all the necessary documentation is in, your completed file is submitted to a lender for approval.
Loan Approval (Underwriting) - Loan approval, or underwriting, generally takes 24 to 72 hours. All parties are notified of the approval and any loan conditions that must be received before the loan can close.
Closing - Once all parties have signed the loan documents, they are returned to the lender. If all the forms have been properly executed, the lender sends the loan funds by wire transfer. At this point, the borrower finishes the loan process and actually buys the house.
Choosing the Right Benicia Home
I will help you find the perfect home.
Making an Offer
Once you have found the home that you wish to purchase, I will do all the necessary research to help you structure an effective offer. When an offer is made, the seller will have the option of accepting, rejecting or counter-offering. As your Benicia real estate agent I will negotiate the best possible terms for you. Together we will draft the purchase agreement, I will advise you of protective contingencies, customary practices, and local regulations. Home warranty, title, and escrow arrangements will be detailed in the offer. Although I will give you advice and information, it is your decision as to the exact price and terms that you wish to offer.
Managing the Escrow
When the purchase agreement is accepted and signed by all parties, we have a valid sales contract I will open escrow for you and your earnest money will be deposited. The escrow is a neutral third party that will receive, hold, and distribute all funds associated with your transaction.
Prior to closing escrow, all of the contingencies of the Purchase Agreement must be met. I will coordinate this process. Typical contingencies include:
Approval of the Seller’s Property Disclosure Statement.
Approval of the preliminary title report.
Loan approval, including an appraisal of the property.
Physical inspections of the property.
Pest inspection and certification.
Acquisition of homeowner's insurance.
Closing Escrow and Moving In!
When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow, and your lender will deposit the balance of the purchase price. NEVER trust an unannounced email with wiring instructions. The deed will then be recorded at the County Recorder's office and you will take ownership of your Benicia home.