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Buying a home is a long and exhaustive process and the help of a trusted real estate agent is most often necessary to ensure that you get to experience the exhilarating feeling of being on top of it all. However, as much as you might like to pop open a bottle of champagne and celebrate, having your offer accepted is still not enough reason to party – just yet.
This is an important moment of transition (from being a buyer to finally, a homeowner) that entails a few more steps that can make or break the deal. This helpful guide will enable you to be as ready and as prepared as possible, to go from offer to closing the deal on your dreams:
Seek loan approval. Ideally, you should have already been pre-approved before making an offer. It is not too late, however, as long as you seek at least two or more lenders to increase your chances of getting approved for a mortgage loan.
Prepare earnest money. This is a security fund deposited into an escrow account, to demonstrate that you are a serious buyer. Depending on your agent, the earnest money may be required before submitting your offer, or after your offer has been accepted.
Hire a professional home inspector. It is important to have the property checked for any defects or initial construction issues. Aside from structural defects, also check for radon levels, pest infestation, mold presence, as well as septic and HVAC problems.
Get a home appraisal. Inform the lender as soon as the inspections have been cleared so they can order a home appraisal. You may need to negotiate with the seller if the home value is less than its asking price. Lenders require that the loan amount should match the appraised value of the home.
Prepare your lender documents.
Get ready to submit all the required documentation so the lender can start the mortgage process as soon as possible. Keep track of the progress and verify your timeline.
Review the title commitment. The Title Company will issue a document providing information on the property’s title history and liens if there are any. Seek the advice of a real estate attorney to resolve issues.
Shop for a Home Owner’s Insurance Policy. Find the policy that is best suited to your needs. Depending on your location, you may need to add additional coverage for flood, hurricane, or earthquake. In Durant OK, you may no longer need flood insurance since it is not located in a hazard area. It is also wise to purchase a home warranty as well.
Set the closing schedule. Reserve a time slot from the title company based on the agreed closing date. Coordinate with your real estate agent, seller, and the listing agent to finalize the purchase process. Prepare your identification cards and payment for the closing costs.
Final inspection. A brief walkthrough is needed so you can check if the repairs are completed and if the house is move-in ready. Check for any seller’s personal belongings which may have been left around, or ensure that there are no more issues that are against the contract.
Closing day. Pay the required amount for closing and sign all the required documents at the title company. Upon the release of the funds from your lender, and the signing of all the paperwork, you will finally receive the keys to your new home.
It is easy to feel overwhelmed with all the steps needed to accomplish after your offer has been accepted. You need a reliable agent by your side to make the sales process as smooth and organized as possible.
Are you looking for a new home? I can help you. Call or email us today.
Born on a ranch just outside of Coalgate and having lived in Southeastern Oklahoma for most of his life, BJ Bellettini is your guide to the Lake Texoma region. He is proud to be from Texoma and knows the area like the back of his hand. BJ can tell you all the ins and outs you need to know about the region.
After high school, BJ attended Oklahoma State University, where he graduated with a bachelors in Agricultural Economics. Over the years he has gained knowledge and experience in many different business sectors before launching his career in Real Estate. This gives BJ a unique background. His past experiences include ranching, trailer manufacturing, sales, banking, pharmaceutical, and medical devise sales, and he currently co-owns Marco Pizza in Durant.
BJ uses his knowledge and insight obtained through the many years working in the Texoma region to represent clients in their Real Estate negotiations. He is a seasoned Texoma realtor and has negotiated many property transactions. BJ also has experience with the sale of new home projects. He commits to creating an added leverage and strength in his client's negotiating position, assisting his clients in optimizing value and benefits in all of their Real Estate transactions.
Focussed on making the buying and the sales process as simple as possible for his clients, BJ always comes up with a positive approach and solutions. He will break the whole process down to make it as understandable as possible, because BJ knows that the business can be confusing as a first-timer, but sometimes even for experienced buyers or sellers. He helps his buying clients to get the properties they want at the prices they need, and he helps the sellers market their home through the right channels to get it the attention it deserves. BJ is the epitome of "family first," and this includes his clients because BJ considers his clients family. Moreover, BJ loves to give hugs and sing happy birthday. Even when it's raining, BJ can make it feel like the sun shines.
BJ Bellettini has experience from the pasture to the office and is excited to partner with you for all of your real estate needs.
Winter is fast approaching and the holiday season draws near, but there are still a few important things to do around the house. So before the frost bites your budget due to unexpected repairs, check out this handy list to prepare your home for the coldest time of the year.
Inspect the Roof
On top of everything else, it is best to start with the roofing system. Come winter time, the snow can bring lots of problems that can affect all the other parts of the house. A little crack here and there could cause ice dams which will leak once the indoor heat melts the snow. Prevent water damage by scanning the entire roof up to the ridges and flashings.
Guard the Gutters
Clogged gutters can cause water to seep into the walls and floors. Remove accumulated dried leaves, tree branches, or dead birds and rodents that keep the collected water from flowing properly. Install mesh guards to keep the gutters free from debris.
Seal the Air Leaks
Caulk windows, baseboards, and doors to reduce air drafts. Weather stripping is the best way to save on heating costs, which is up to 10% annually according to the US Department of Energy. So inspect your home for gaps which can let the cold air in, especially the holes made for electrical, phone, and cable installations.
Check the Chimney
Hire a chimney sweep to inspect for loose bricks, remove flue blockage, and clean creosote build up (tar created from wood smoke) which may cause a fire if neglected.
Clean/Replace Air Filters
Keep your indoor home temperature to a comfortable level by removing the dust off your furnace filters. Clean or replace depending on the air filter material.
Test the Thermostat
Tune up the thermostat so it will be stable during the winter. Heating systems usually break down during winter months, due to heavy use. Prevent expensive repairs by having your furnace professionally inspected for worn belts, blocked ducts, damaged blower, or misadjusted parts.
Clean the Carpet
Accumulated dirt and grime from your carpet may make your indoors smell musty when the air is filled with moisture. Keep your home smelling fresh by giving your carpet a deep clean. The same goes for your upholstered furniture and mattresses.
Prepare the Plumbing
Frozen pipes are one of the most common winter home problems. Sprinkler systems buried underground, exterior faucets, and outdoor pipes are prone to bursting due to freezing and cracking. To avoid this, turn off the valves for the outdoor plumbing and drain the remaining water from the pipes. For the indoor pipes, insulation is best for keeping a stable water pressure.
Secure the Driveway/Walkways
Ice makes the driveway and walkways slippery, so reduce safety hazards by fixing cracks, loose paths, cement holes, uneven steps, damaged fencing, and shaky railings.
Trim the Trees
Large tree limbs of old trees pose a serious risk to your home during winter. Ice and moisture may cause the dried branches to fall on the roof, fence, and even on people. Trim tree branches, especially the large ones and keep the limbs as far from the roof as possible.
Free your home from the common winter problems by following the tips above. Regular home maintenance can make your home habitable and comfortable all year round. Whether you’re buying or selling, We can help you, just send us a message or call our number today.
“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ― Maya Angelou
Brian Allen’s passion for digital marketing and real estate performance can best be described as a marriage between creativity and logic with a sprinkle of country-boy charm thrown in for “wow-factor”! In fact, he’s developed a special knack for connecting with people, customers, partners, and business owners.
It comes as no surprise that Brian has earned a positive reputation for his tireless work ethic and incredible follow-through. Brian's customers speak openly about his ability to make them feel that the most important part of his day was the time he spent with them the second they set foot inside his office. For Brian, it's never been a job. It's been devotion— to God, family, and country — that has positioned him as a leader in marketing, sales, and technology.
From a country boy who served in the US Navy as a Sonar Technician to Business Owner, Digital Director, and now Real Estate Broker / Partner, it’s fair to say Brian knows a thing a two about resourcefulness. Brian’s experiences have taught him how to solve difficult problems, how to deliver creative solutions to please the most discerning customer, and how to keep his clients both stress-free and well-informed every step of the way.
To know Brian is to know his top priority is to build on, value, foster, secure and nurture long-lasting relationships with the people around him while being openly transparent, easy-going, and just a little eccentric in that ‘country boy’ sorta way.
Characterized as a hard-working, fun-loving professional with a high degree of integrity, Brian stays current and aware of the latest technological advances and is dedicated to aligning himself with the highest standards in the industry. When away from work, Brian’s greatest pleasure is hanging out with his wife and kids. He is available for consultations and can be reached by contacting him at 580-877-SOLD or by e-mailing him at brian@580Realty.com. You may also visit him on the web at http://www.linkedin.com/in/chifriedchicken.
When's the last time you checked your FICO score? If it has been a while and you're planning to purchase a home soon, you may want to look at your most recent credit report. That's because improving your credit score by even a few mere points can have a serious impact on your mortgage rate and save you thousands of dollars in interest payments over the upcoming years. Let's discover how credit and purchasing a house are related as you learn how credit works.
It's very important to understand how credit works and what you can do to improve your credit score. Your credit score determines both the percentage you'll pay on a mortgage, and whether you can get a loan for a mortgage at all. Those with a credit score of 620 or less will have trouble getting a mortgage. That doesn't mean however, that it's impossible to do. Alternatively, if you have a score of 740 or greater, you'll qualify for the best interest rates from lenders.
Usually the difference between two people with scores of 620 and 740 is one-and-a-half percentage points, which might not sound like that big of a deal, but considering that the median home in Durant, OK costs nearly $100,000, a 1.5% difference on mortgage interest can lead to thousands of dollars saved over a year.
If you're someone with a 620-credit score (or even less) don't worry! It's never too late to improve your credit score. With the right effort and with enough time you can ensure that you receive a good interest rate for your mortgage. Start by checking your credit score. You can do this for free (every 12 months) by requesting your credit report from each of the three major consumer reporting companies (TransUnion®, Equifax®, and Experian®). Take time and review every single piece of information listed on your credit report and dispute anything that looks incorrect.
Now that you have your credit report, it's important to understand what lenders look for while deciding the rate you'll receive. Creditors prefer people who make on-time payments every month. They also look at how much credit you have access to, versus what you're currently using. Some red flags to creditors include accessing all your available credit, having lots of credit accounts that were recently established, and applying for new credit at a variety of places.
If you are interested in purchasing a home, but you want to improve your credit score first, then the best solution is to wait a year or two to fix your credit. Disputes take time to go through, it’s important to pay off anything that’s delinquent, and you need to establish history of paying on time. These steps take time, so don’t rush into purchasing a home before working on your credit today.
If you want to learn more about buying a new home in Durant, OK or have questions regarding your credit score, credit history, income guidelines, and monthly obligations, we will be glad to help you with your search and assist with getting your finances prepared to succeed. Give us a call or send me an email today to get started!