The Home Buying Process: Step 8

This is the eighth post of ten in a series about the home buying process.  The purpose of this series is to educate the reader on different steps in the process to ease any anxiety of the unknown.  Whether you are a first-time buyer or have purchased in the past, it is always advantageous to be up-to-date with the latest news and information to make your path to home ownership as smooth as possible.

Step #1:  Initial Consultation

Step #2:  Get Pre-Approved

Step #3:  The Home Search

Step #4:  Making an Offer

Step #5:  Negotiations

Step #6:  Mortgage Application

Step #7:  Underwriting

Step #8:  Loan Approval

Congratulations!  Your loan has been approved and only time stands in your way from moving in! 

Both parties are notified of the loan approval and all documents are sent to the title company.  Upon receiving the documents the title company will do final prep work such as conducting a title exam, and handling title insurance and title survey.  These steps are to be certain that the buyer is purchasing the home and only the home.  If the title examinations come back with any liens or other unsatisfactory marks, the buyer will be notified and the seller will need to clear the title before moving to closing. 

Prior to closing the buyer will have one final walk through of the home.  This typically happens 24-48 hours before the closing, and allows the buyer to be sure that the home is still in proper shape and all repairs or remedies have indeed been completed. 

It is time to start packing (if you haven’t already) because your new home awaits you! 

In Step #9 I’ll discuss the closing and give you a list of items that you should have prepared to bring along with you.  

Until then..

Take care, 

Scott Morrison

Click here to search for a home for sale in Gahanna Ohio