You've researched the neighborhoods, schools and home builders and have decided on the perfect home for you. So now what? With Collova Builders we make the process of buying and/or building a home easy.
The first step to buying your existing home is to secure the home with an earnest payment. These payments are typically $1,000-$2,000 and will be used as a down payment towards the home. If for some reason you choose to not buy the home, you will receive the earnest money back.
During this time you will also want to look into how you will finance the home, and complete your mortgage application.
It usually takes a lender between 1-6 weeks to complete the evaluation of your application. Its not unusual for the lender to ask for more information once the application has been submitted. The sooner you can provide the information, the faster your application will be processed. Once all the information has been verified the lender will call you to let you know the outcome of your application. If the loan is approved, a closing date will be set up and the lender will review the closing with you.
Once the closing date is set, Collova Builders will schedule a walk-through of your home to decide on any problems that need to be fixed to the home. If anything needs to be fixed, Collova Builders will provide you with the terms in writing. Any problems will be fixed prior to closing.
After closing, you'll be able to move into your new home.
If you choose to build your next home with us, learn about Collova's home building process. Still wondering whether to buy a home? Learn about the benefits of owning a home.
