The Condo Purchase
One Step at a time
The Purchase Agreement
We put it in writing
Date to close
Type of financing and interest rate
Loan approval dead line
Closing attorney, Purchasers usually chooses Title Co.
Deposit Amount you get back as a credit at sale.
Home warranty, time to ask for one.
Property disclosure to read and sign Plus lead base paint.
The seller can accept or counter on any points. The counter will be timed so purchaser should be ready to act.
Acceptance of Contract
| Deposit to listing broker.You choose the title company in most cases 10 Day inspection beginsHire a general inspector and A/C if needed. Be There during inspections if possible Inspector will give you a written reportFollowup on inspections if needed Inspection response by day 10 Settle on repairs or a dollar amount|
Appraisals and Insurances
| Appraisal done after inspections are completeHomeowners condo insurance, Inside plus contents Flood insurance is in the condo fees Call several agents to compare or ask me. Copy of the MLS sheet for the Insurance Agent Check with the lender during the process|
Title Company Needs and Does
| Set the time for closing Cashiers check made to the tilte company The lender checks to see if all insurances are OK Title Insurance for the lender is a must.Hud statement is a breakdown of all the costs Lender supplies info to the title companyBring picture ID to closing Don't forget your certified check, may be a last minute thing|
Final Walk Thru
| Review repair work and receiptsCheck the condo for any changes Utilities should be ready to be transferred Phone , Cable , and electricityRe-key locks upon closing, don't forget mail key|
Condo Ownership starts
- Let eric Know how you are doing
- Happy to answer any further questions
Always appreciate refferrals
Remember to File for your homestead exemption
Return to New Orleans Condos
Eric Bouler E-Mail
Feel free to ask me some of the things that are not clear.