Home Buying 101

Congratulations on your decision to buy a new home! With such an important decision, there are several important things to consider. With the assistance of your Real Estate Agent and Loan Officer, it should be an efficient, pleasant, and rewarding process. Here is some information that will put you on the right track.

What should my realtor do?

• Represent your interests in the home buying process by negotiating purchase contracts; they are your professional advocates in the transaction. With a Pre-Approval letter from Peoples State Bank in hand, your realtor will be able to show that you are a qualified and capable purchaser. This will strongly influence the Seller, and may make the difference between the Seller accepting your offer or someone else's - even if your offer is lower!
• Provide information about home inspectors, termite inspectors, and home warranty companies that you may wish to engage.
• Your realtor should save you time by previewing and filtering out overpriced and unsuitable homes. So communicate as best you can what type of home you are looking for and in what price range.

What should my loan officer do?

• Assist you in selecting the best loan to meet your specific situation and goals. This decision can save you thousands of dollars over the years!
• Keep you well informed of your loan status throughout the origination process (appraisal request, title work, mortgage filing, etc.)
• Keep your real estate agent informed of our loan progress.

What should I do?

• Make sure you get pre-qualified as soon as possible. This will put the power of financing behind you so that you can focus on finding your dream home.
• Keep your real estate agent informed of any questions and concerns as they develop.
• Keep the process moving by providing documentation and decisions in a timely manner. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.