House financing is completely different from any other financing. For example, when you buy a car, you choose the car first and then get financed. Car financing only takes about 15 minutes, super easy, and completely stress-free!
When you buy a house, you get financed BEFORE choosing the house. Property financing is more complicated and can take several days to weeks. Sellers will not wait for you to get financed, and most will not allow you to see their house if you don't have proof of financing. Also, some Sellers will not accept certain types of loans, so it would be time wasted to see those houses.
All cash buyer?
Cash buyers need to provide a Proof-of-Funds Letter from their financial institution and a closing time frame to prove to the Seller they are qualified to purchase the property.
The Seller always pays Full Realtor fees for their Listing Agent, and typically pays the full Realtor fees for the Buyer's Agent for bring them a qualified Buyer. Total Realtor fees range between 6%-9% of the selling price. However, some Sellers choose not to pay the full fees, then the remaining %-age of the Buyer's Selling Agent is paid by the Buyer, which averages only around 1%-2%.
I'll email you Active Listings of properties For Sale from the Realtor's FMLS and GaMLS with the criteria you desire. You can read about and review the photos online and pick out the ones you want to see in person. I will then schedule the showings and meet you at those particular properties for your private showings.
I'll write your offer on GAR Contract Legal Documents and submit it to you to electronically sign online. You will not have to talk to the Seller or their agent, and you will only be dealing with me. I will be the one speaking to the Seller's agent on your behalf, negotiating the best possible deal. for you.
If the Seller accepts your offer, you have 3 days to submit to me your Earnest Money Check, which is 1% of the home's purchase price. Your Due Diligence Period also begins and is generally between 5-7 days to have the Inspection to see the property's overall condition. During these days, you can back out and get your Earnest Money back for any reason.
Escrow is the period for your financial institution to get everything in order with your loan for you to purchase the property. Cash buyers usually close within 15 days, while loans close in 30-35 days, depending on your loan type.
We'll meet at the Closing Attorney's Office for you to sign all the legal documents in person. Please bring a government ID and your loan will be Ready-to-Close. This is when you get the keys to your new house.