MORTGAGE CHECKLIST

Purchasing a home is a major financial decision for most people. You can empower yourself to make the right decision concerning mortgages with a bit of information.

1. Be prepared!

Familiarize and inform yourself with the product types available and how they meet your requirements.

2. Complete the correct paperwork

Assemble all the necessary documents ASAP to ensure your loan application can be approved quickly. Your lender needs time to assess your documents and conduct credit checks to ensure your suitability.

3. Honesty really is the best policy

If you are not upfront about your existing financial commitments you will only make it harder for yourself and increase the likelihood of long term heartache.

4. Will the loan meet your requirements?

A reputable lender can explain the benefits and features of diverse loan types – allowing you to compare products to meet your requirements.

5. Fees and charges

Ensure you are savvy with the fees that apply for the life of the loan. Consider the lender’s comparison rate – an independent calculation that recognizes all applicable fees and charges, enabling the comparison of similar products.

6. Pre-approval and the purchase

Once you’ve obtained loan pre-approval, you must:

Obtain a copy of the vendor’s contract of sale.
Have legal reviewing of the contract.
Organize a comprehensive building and property inspection.
Submit an offer to purchase the property.
Organize a property valuation and formal approval of your loan.
Pay the deposit (normally five to 10 per cent of purchase price) and exchange contracts.
Finalize mortgage documentation with your solicitor.
Establish building and contents insurance.
Upon settlement, get your keys and take possession of your new house.

7. Remember to ensure that your loan repayments are organized 

– and assess once again: does the loan suit your lifestyle and needs?

Buyer Inspection Checklist

BUYER INSPECTION CHECKLIST

If you are looking for a house there are a lot of things to consider, so before making an offer, it is vital to have an initial inspection inside and out of the property to find that perfect dream house that matches your needs.  To be able to do so, you have to be keen and alert in finding obvious defects and limitations to address future problems and to be able to terminate this house as an option from the list of possible choices, making it easier to pick the best out of the best properties around.

Note: This is not meant to replace a professional home inspection. Once you make an offer on a house, you'll want a licensed home inspector to go over it with a magnifying glass.

Your initial inspection

Foundation: Look at the base of the walls and the ceilings in each room. Are there obvious cracks or apparent shifts in the foundation? Do the same around the outside. Are there any trees encroaching on the foundation?

Lot: Does the drainage appear to be away from the house? Are there any obvious soggy areas?

Roof: What is the overall condition? When was it last replaced? Are there any trees encroaching on it?

Exterior: Does the house look like it will need repairs or repainting soon? Are gutters and downspouts firmly attached? Are there loose boards or dangling wires? Is there asbestos in the exterior material, which would require added costs if it needed to be repaired or replaced?

Attic: How does the interior of the roof structure look? Are there any signs of leaks?

Interior evidence of leaks:  Check ceilings and areas around windows in each room.

Basement: Is there dampness? Adequate insulation? (If there's a crawlspace instead of a basement, you might want to leave this for the professional home inspection.)

Electrical: Do the switches work? Are there any obvious malfunctions? Have the outlets been grounded? Is the panel updated and expandable for additional appliances or a potential remodel?

Plumbing: Any unusual noises or malfunctions? Has the sewer line been scoped to check for potential cracks?

Appliances: If these are included, what is the age and condition of the stove, dishwasher or refrigerator?

Heating/cooling system: Does it seem to do the job? How old is the furnace? If the system has been converted, are the old systems or tanks still in place?

Odor: Is there an odor in the house? Can you detect what it might be and whether it could be fixed? Beware of musty odors, which could signal a wet basement.

 Contact us  today 469-500-4663 move to your dream home in Dallas tomorrow!