You've been extremely busy working with Cedar Rapid's finest Realtor (that would be me), and all of a sudden, you find the home of your dreams.  Every nook and cranny of this home speaks to you in your own special language, "Buy Me Now, Buy Me Right Now, Buy Me Right Now or Else Someone Whom I Don't Like Very Much Will Buy Me Now."

Seriously though, you've worked with your Realtor to successfully negotiate a purchase price.  Congratulations, the hard work is over for you.  Now it's time for other's to step in and handle the rest of the transaction.  Here's what happens behind the scenes while you're planning your move thirty days from now:

  • Your loan officer will explain the specific loan program to you in detail including how much, at what interest rate, for how long, and if there are any variables along the road for you to consider or be on the lookout for. 
  • Your loan processor verifies your sources of funds, income, orders the appraisal of the property, credit reports, and sets up an escrow account.
  • Your loan closer is the escrow agent that holds documents and funds on behalf of both parties involved in the transaction; the buyer and seller.  As a "disinterested third party" the escrow agent distributes all funds according to the buyer's and seller's instructions.
  • Your buyer's agent - checks regularly with all parties to assure your process is orderly; acts to anticipate any potential problems and notifies parties to make any corrections.

After you've successfully negotiated the purchase of your new home, you can relax.  These professionals are paid for their work through closing costs and commissions.  Their jobs are to assure that all paperwork is processed, and that your best interests are kept in mind.  Your job is to get them any and all information they request in a timely manner, so that they can process all the paperwork with the required time frames.

Only with a Realtor and these other professionals can a transaction run this smoothly.  Contact me today at 319-329-5988 or email christopher@skogman.com for information on how to get started owning your own home.  Thank you for your time!