Charles Bent*Prudential Alliance*400 Old Smizer Mill Road*Fenton, MO 63026*cell(314) 566-2099*office(636) 680-8306

Buyer:

1) Write an offer- earnest check submitted with offer- usually $500 to $1,000 depending on listing price of home
  to be purchased. Pre-approval is sent with offer.
2) Negotiate Offer- Accepted offer becomes contract.
3) Inspections (building/termite/radon/septic/well etc) done within 10 days of accepted contract.
4) Negotiate repairs- Resolution period is 10 days after the receipt of the Inspection Notice which buyer initiates.
5) Buyer has 10 days after contract acceptance to assure insurability of homeowner/hazard insurance on the property.
6) Meet the Loan Commitment deadline.
7) Notify Post Office/banks/credit card companies/magazines of your new change of address. Transfer utilities.
8) Walk-thru (approx 3 days prior to closing to assure repairs have been satisfied and home meets previous satisfaction)
9) Attend closing- usually your agent, lender, title company representative attend.

Lender:
1) Submits last year's taxes, bank statements, investment statements, pay stubs, etc to mortgage company.
2) Orders the appraisal on your new home.
3) Information needed for your loan goes to underwriting for loan commitment.
4) May attend your closing.

Title Company:
1) Conducts a title search on your new home. Assures there are no liens on property and a clear title. Checks taxes are paid to date.
2) Works with lender to prepare a HUD statement which shows what is to be paid by buyer and seller along with credits. 3) Issues checks.
4) Provides documentation for Title Insurance.
5) Orders Survey.
6) Attends closing.
7) Faxes information to mortgage company.

Seller:
1) Lists home- Seller fills out disclosure/lead base paint form.
2) Seller gets offer on home, may negotiate, but when accepted becomes a contract.
3) Seller (unless otherwise stated) must order Occupancy Inspection (see individual page on this website for additional information) and present a passed
  accepted inspection so the buyers may have occupancy.
4) Buyer has 10 days for inspections (building/termite/septic/radon, etc)
5) Seller receives Inspection Notice from buyer and resolutions are made within 10 days.
6) Seller to provide buyer at closing, a certification from Laclede Gas or other appropriate utility or propane gas supply companies, dated not more than 30
  days prior to the closing date that the following are in compliance and in good working order: furnace, water heater, and all other gal appliances.
7) Seller agrees to request any compliance inspection including municipality, conservation and fire district, no later than 4 days after acceptance deadline
  date.
8) Buyers will schedule a walk-thru 3 days prior to closing.
9) Seller attends closing.