Client Services – Services for Buyers – During the Purchase Process

First time home buyers, and even buyers who haven’t purchased a home in the past few years, are often surprised at the amount and complexity of documentation and procedures during the actual purchase process. The real work begins after due diligence, pre-qualification, selection of a home and offer acceptance.

If you have worked with MOPNC and participated in

budget and credit counseling, and the Home Buyer’s Club, you are well-ahead of most home buyers in preparation, understanding and skills. But constant attention is required during the purchase process, to ensure successful completion. Common problems are lender changes to terms and conditions; delays caused by various agents like appraisers, inspectors, and document handlers; or the discovery of new information, for instance a defect in the home or loan.

Every document must be carefully reviewed, line by line, even if it seems a forbidding process. MOPNC counselors can review these documents with you, and even act as an advocate with lenders to prevent misrepresentation or misunderstanding. The overriding goal is to ensure that before you sign a document, you fully understand it.

There are also numerous fees upon closing. Among these are; taxes, escrow fees, title insurance, mortgage insurance and loan origination fees. These vary by the type of residence, for example a single family house compared to a town house, jurisdiction and source of the loan. READ MORE