Realtor Interview #2

It's been about a month since we first started our journey toward buying a house. I had met with the realtor initially on September 17. That was the seller half of the realtor.


My family met his wife, the buyer half, today. There was quite a bit covered in that meeting this afternoon. I will post my meeting notes in the next entry.


UPDATE
I had meant to add my notes from this interview previously. See below.


Lender will give itemization of fees in the closing costs.

Process:

1. Up front cost (earnest money $1000 up to 1% of house sale). Option fee $100 paid to the seller for unconditional right to cancel contract 7-14 days, pay for home inspection during the 7-14 days


2. Promptly after entering into a contract to buy a property and before any option period expires, contact your insurance agent to determine the availability and affordability of insurance for the property


3. Once you have a contract on the property, realtor takes contract to lender


4. Home needs to be inspected before appraisal - Home inspection #1 and termite report #2 $350-400 (this is not the home value appraisal)


5. Lender processes contract and orders appraisal which takes a few weeks - Appraisal runs about $450 usually paid to the lender up front after finding a house (but may only be due at closing)