Buyer's Handout Guide - what to expect when buying a home

Attorney Information and Lender Tasks As we are going though the home inspection process, the listing agent or seller’s attorney will be generating the Draft Purchase and Sale (P&S). This document may be changed, or a repair addendum added, depending on negotiations made between you and the seller after home inspection.

Also by this time, you should have submitted your formal application for financing to your lender so they can be working on their part of the process. The lender will assign a closing attorney for your purchase to work on the bank’s behalf. The closing attorney may agree to review the Purchase and Sale on your behalf for a fee.

Once the Purchase and Sale has been agreed upon by both sides, it will be time for both you and sellers to sign the Purchase and Sale, and you will submit your second deposit, which may be either a bank check or DepositLink. Your lender will also order the appraisal for the property, and advise what other documents they need from you and steps you’ll need to take to secure your financing. Make sure to follow up with any lender requests quickly! We will work closely with your lender during this time, and keep track of important dates along the way.