HOME BUYER GUIDELINES

Dear Home Buyer,
Please use the following checklist to aid you in your search for the perfect home. Please contact me if you have any questions or for additional information.

When you are looking for a home:

  Call Jerry to set up a no-pressure, no-hassle meeting for an overview of the entire buying/selling process.
  Establish a price range and get pre-qualified for a loan.
  Determine the criteria of prospective homes.
  Sign agency agreements.
  Find the right home.

When you have found a home:

  The contract is written and negotiated.
 

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Earnest money to accompany any contract, usually 1-5% of the purchase price, is applied at closing to down payment and/or closing costs.

Copies of final contract are received.

Once you've signed a contract...

	Per paragraph 20 (Inspection Clause) of your contract, YOU need to contact a home inspector of your choice and schedule for an inspection within the time frame on the contract. The inspector is paid at the time of the inspection.
		NOTE: Allow at least 2 hours to complete the home inspection. Inspectors like having the home buyers at the inspection if at all possible.
	Contact a licensed termite company for a termite inspection per paragraph 11 of the sales contract. If at all possible, the termite inspection should be conducted at the same time as the general home inspection. The termite inspection is paid for at the closing.
	If you require financing for your home, you need to schedule a loan application appointment as soon as possible.
	$	A fee of approximately $350.00 will be collected at the time of application. This fee pays for a credit report and the appraisal. All other closing costs and down payment is due at closing.
	After all contract contingencies are satisfied, please contact a Home Owners Insurance agent of your choice to arrange for hazard insurance coverage at closing. Many insurance companies will have the roof of the home inspected at their expense to assure insurability.
	$	It is not necessary to pay for the insurance as it is usually paid at closing. The lender will require coverage for at least the amount of the loan.
	Once the closing is scheduled, please contact the utility companies and have all the utilities put in your name as of the possession date. This includes electricity, gas, water, phones (optional), cable (optional), and trash service (optional).

After Closing:
 

	Address change becomes official at closing. An address change card must be filled out and filed with the post office to ensure that your mail is forwarded to your new address. You will also need to update your Driver's License and Voter Registration.
	If you are moving into the Wichita area from out of state, new license tags are required for all vehicles.
To ensure your security and protection, I recommend that you do the following upon possession after closing:
	Have all house and outbuilding locks changed or re-keyed.
	Change any security system access codes.
	Re-code the garage door remote controls.
Some items that are commonly overlooked during the home-buying/selling process:
	Be sure to cancel the insurance coverage on your current home and let the insurance provider know where to send the refund check.
	If your previous home was financed with an FHA loan, contact the lender to get the form to apply for a PMI refund.

Copyright 2005 Jerry Self Realty - homes for sale in Wichita