Contact Susan
Online form
(707)695-1809
susanvmotley@sbcglobal.net


Contact Deveron
Online form
(707)372-6653
deveronford@yahoo.com


 

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Buyers

The financial aspects of purchasing your new home can often be overwhelming. To better prepare your family for the task at hand, we have compiled a wide variety of information to assist you. Feel free to explore the various online calculators, articles, and definitions to create a better understanding of the financial aspects involved with home ownership. When you are ready to achieve your Real Estate goals, you can rely on Susan Motley for expert guidance and help.

Local Real Estate Practices in Northern Solano County:

  1. Prequalify with a lender.
    • Contact your financial professional -or-
    • Contact Susan for a referral -or-
    • Prequalify online by clicking here.
  2. Contact Susan Motley and arrange a meeting so she can begin to help you search for your new home.
  3. Agreement
    • Real Estate purchase contract and receipt for deposit is signed by the buyer and accompanied by a deposit of typicaly 3% of the purchase price which is held by the broker in escrow until final settlement.
    • Usual contingencies: obtaining a mortgage, sale of buyers present home, termite inspection.
    • Seller agrees to convey by "Grant Deed".
    • Average time until closing (Transfer of Title) is 30-60 days.
    • Purchase contract and receipt for deposit accepted and signed by seller.
    • Buyer provided with an estimate of closing costs.
  4. Mortgage(Obtaining)
    • Buyer submits application for financing to savings and loan association, commercial bank, or other sources.
    • Lender orders credit report, verifies employment.
    • If all reports are satisfactory, lender approves loan commitment and forwards documentation to escrow company.
  5. Closing
    • Escrow officer commences title examination, order and/or coordinates title insurance, mortgage insurance, and other necessary documentation.
    • Close of Escrow(Transfer of Title)
      Held in office of the escrow company, buyers and sellers need not be present. Usual closing costs include: loan origination fee, credit report, appraisal fee, hazard insurance premium, closing fee, mortgage insurance(if applicable), escrow fees, interest prorations, recording fees, and title insurance. Escrow officer prepares deed, computes final closing costs, and records all pertinent documents in office of county recorder.
    • Customarily, buyer takes possession of property on the day of the close of escrow.
    • Buyers and seller are not required by law to have an attorney represent them in the transaction, nor is it customary for them to retain legal counsel.


Click Image For Online Financial Tools
    
Online Financial Tools

Tools to help you better understand your financing options.

(Click Here)

The accuracy and applicability of these calculators are not guaranteed. Please consult your financial professional to confirm results.

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