UNDER CONTRACT

Under contract to purchase a new home, there are many things to pay attention to. At this time your home you are purchasing in the multiple listing service is changed to pending, no other contracts can be executed by the seller. Ensure you have cash to close as you work with your lender. Do not bounce any checks because this can count against you and lenders see that as being irresponsible and frown upon this which makes them start to feel uncomfortable. Do not move around money or any other large deposits. Underwriter will ask you to account for it. Bed mattress money does not count. If there is gift money from a family member it must be seasoned for at least 60 day's. Each lender is a bit different, anything the underwriter ask for send as soon as possible. This is how you get your keys on-time and meet your deadline to close.

You must look at this like you are loaning someone money with the intent to pay you back. Depending on your contract you have the option to have an inspection period. This is the window that if anything major that may arise could be negotiated depending on how your contract is written.There is an appraisal and survey you must pay up front before services rendered after entering contract.

At this time a lien search is performed on you property while under contract and final payoff is requested so that numbers are right at the closing table. If their is a lien, it must be cured by the seller or must be negotiated.Title search is performed to ensure no other additional names are on the home.

Your credit will be pulled one more time by the lender just before closing to ensure you have followed instructions.

DEBT TO INCOME

You already have a pre-approval letter. You must account for all your bills to be paid on time, and you must not incur any more major debt on your credit cards. Your debt to income ratio may be thrown off after you are pre-approved and may disqualify you purchasing a home. If in doubt talk to your lender and realtor to circumvent any foreseen problems. This is a 30-45 day critical window you are in to close on your home. Remember the credit reporting cycle is every 30 days and not the same exact day for each credit bureau. This is why you need a trusted advisor. Click link on how to hire the right realtor /HOW-DO-I-HIRE-THE-RIGHT-REALTOR---32819---32836---Dr-Phillips-6-16972.html

TRUSTED ADVISOR

As a trusted advisor, professional realtor and retired veteran I am here to serve you and always on the pulse of the Disney, Dr Phillips and Central Florida housing market. Alway's stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to ensure you are making the right decision.  So don't let this shifting housing market delay your dreams, data reveals that home values typically appreciate over time and that gives your net worth a nice boost. If you are ready to start your journey contact me today at 850 496-6412 to help begin a new walk to homeownership and all of your real estate needs. Click link to learn more about Kevin Strawter /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html?