Dayton and Miami County Ohio Home Purchase Procedures
Buying a house to make home in Dayton and Miami County Ohio can sometimes be a confusing time. As with any Real Estate purchase, it’s good to have sound steps to follow to keep you on track for a pleasant experience. Take these steps below to help guide you through the home purchase procedures.
Step 1:
1. Prequalify with your Dayton or Miami County Realtor to know what price you can afford.
2. Decide what location, features, and priorities are important to you.
3. View several homes in your price range to determine your choice.
Step 2:
In purchasing your new home, the initial step will be to instruct your Realtor to make an offer to purchase. This offer must be in writing and accompanied by an earnest money check to show Good Faith. This offer should include:
1. The amount you are willing to pay.
2. Closing and occupancy dates.
3. Any contingencies, including obtaining of mortgage, and building and pest inspections.
4. Any personal property specially included or excluded.
If the offer is not acceptable, further negotiations are necessary to reach terms agreeable to both buyer and seller.
Step 3:
When the buyer and seller agree on terms, the buyer immediately applies for financing, taking the necessary credit information to the lender. The buyer should stay in touch with their loan officer weekly during the loan process.
Step 4:
Be Patient! The lender will arrange for a credit report and appraisal of the property and begin processing the loan. This may take 2-6 weeks depending on the type of financing.
Step 5:
Once loan approval is received, the agent will see that the abstracting is begun and all necessary contingencies are met.
Step 6:
The Closing. Buyer and seller meet with the lender and Realtors involved to perform the closing transaction. Afterwards, the documents are filed at the courthouse. Possession date is not necessarily the closing date. Possession and occupancy are agreed upon at the time the contract to purchase is agreed on.
Searching houses for sale in Dayton and Miami County Ohio is easy, just look for Realtor listing on-line. There are many real estate sites that let you see everything you want to know from the convenience of your computer. Check out my site at Greg Greenwald’s Dayton Realtor Website to find out more information and try out the Exclusive Atlas Search. Good luck, and happy house hunting.
