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Sunday, August 16, 2009

House and Lot





Think of all the task that you perform when you purchase a house & lot. Include any research, decisions considerations, or financial issues that relate to the purchase. Draw a Gantt Chart & PERT Chart that shows all the tasks and the estimated duration of each.
(Note: You should come up with a task listing as well as its dependencies.)
PROCEDURES IN PURCHASING A HOUSE.
Get pre-qualified for a loan.
Talk to a Realtor to show you houses.
Make and offer.
Offer accepted.
Open Escrow.
Make Deposit.
Do home inspection. (right after opening escrow)
Ask for a copy of termite inspection.
Ask for copy of all Seller's Disclosure and approve them.
Review home inspection and ask for repairs.
By this point you are probably about 15 to 17 days after acceptance. Make sure you lender already has the unconditional loan approval and knows you are good to go.
Once you know you are approved, have seller do termite work.
5 Days Prior to close of escrow you will do a "Final Walk Through" to make sure your house is in the same or better conditions as when you wrote the offer and that all of the agreed repairs have been done.
Loan will be funded (closed)
Next day the title will be recorded. (escrow is closed)
Usually, seller has 3 days to vacate the house.
Move into your home.
Don't forget to change the utilities under your name.
House Blessing

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