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the process of buying condo <1>

(2007-12-11 12:34:08) 下一個
The process of buying property is not easy, really consume a lot of time and energy. but anyway I found the one we want, so just want to write here the buying process for future reference:
 1. give the offer to the seller's agent, we also have agent, so basically the deal is between two agents;
 2. the seller agree with the offer and sign up the contract;
 3. on the contract, there is early money, ususally first is $1000, within the signed contract day's 5 business days, you need to give the remaining money. like mine, I agree to give $3000 as early money, so I need to give another $2000 within 5 business days of signed contract.
 4. now it comes to mortage. it depend on the mortage commitment date on the contract, like mine, it has only another 2 weeks. so pretty much you need to contact to mortage company even before you got the offer, otherwise, there is no way to close it in a very short time.
 5. also within 5 business days, you should do the inspection on the property. I spent $150 since it is condo, but for house usually more expensive because outside also need to be inspected.
 6. the contract will be sent to atturney to view and make sure everything is fine. our agent pay the atturney fee for us, so I just use the one she feel good and famaliar. From my point, attorney is really just view but does not do that much usage on the case. but possibly I am wrong since more complex case then more legal issues involved.
7. fiinally coming to closing date, the sell will choose the title company. so we just need to go and make so many signatures :). but then you got your propery. the final stage is done.

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