The Buying Process
Buying a home can be an exciting and emotional experience. You can rely on our team of West Tennessee real-estate experts to guide you through the home-buying process. Our goal is to help you feel comfortable and confident each step of the way.
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Get Pre-Approved
The first step to buying any home is understanding your buying power and establishing a price range. A licensed lender can help evaluate your financial standing and provide pre-approval. They will review your income and credit history to determine how much the bank can lend you, and help determine your price range. Having a pre-approval letter in-hand increases the attractiveness of your offer, especially when a seller has multiple offers to choose from.
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The Home Search
Start your search for the perfect home with up-to-date MLS listings in your favorite neighborhoods. Create your free account to save your favorite properties, request showings, and more! As your dedicated Jackson, TN realtor team, Prosper can also search for homes on your behalf. When we find a home you like, we’ll schedule a showing tour for you to preview the property in person.
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Making an Offer
When you’re ready to make the next steps in your Jackson, TN home-buying journey, Prosper’s real estate agents help you build the strongest offer possible. Your agent will draw up all the necessary paperwork on your behalf, and will negotiate purchase price, closing date, sale contingencies and any special stipulations for your particular purchase. Once your offer is submitted, the seller may accept, reject, or counter the offer. If the seller returns a counter, our real estate team will enter a negotiation period until an agreement is reached, or the offer is rejected by either party.
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Going Under Contract
When your offer is accepted, you will officially be under contract! The purchase will not be complete until closing, but the home cannot be sold to anyone else while the contract remains in effect. At this point, it’s your time to make an earnest money deposit and secure your mortgage loan. Lenders offer a wide range of loan programs, so it’s important to work with a lender you trust to find the best loan for your specific circumstance.
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Home Inspection
Inspecting the physical condition of your next house is a vital part of the home-buying process. A licensed third-party home inspector will conduct a comprehensive evaluation of the entire property and report any problems with the condition of the home’s structure or systems. The inspector will also investigate potential issues such as pest infestations or mold. Depending on the purchase agreement, Prosper’s agent may enter additional rounds of negotiation to resolve any problems discovered during the inspection.
Home Appraisal
Your lender will arrange a professional appraisal of the home. An appraisal is an unbiased estimate of the true (or fair market) value of a home and is conducted by an independent third party. The appraiser will confirm the appraisal value of the property for all parties involved. If the home appraises at less than the expected value, you may have the option to renegotiate the purchase agreement or terminate the contract.
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The Final Walkthrough
Prior to closing, your Prosper real estate agent and our service team will conduct a final walkthrough of the home to ensure all negotiated repairs have been completed, and the home is in the same (or better) condition as when the original offer was made. This is the final opportunity to call out any problems identified with the home before closing. Depending on the purchase agreement, you may sign a formal contract addendum confirming that the walkthrough is complete, and the condition of the home is acceptable.
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Closing!
Time to celebrate! Your lender will provide a final closing disclosure that summarizes the loan terms, monthly payments, taxes, and other costs associated with the closing. They will also confirm that you are clear to close, and you will sign all of the paperwork required to complete your purchase and loan agreement. Once the paperwork is signed by all parties and your loan is funded, you’ll receive keys, and you’ll be ready to move into your new home in Jackson, Tennessee!
Moving Checklist
- Start a File: Create a “moving” file to keep track of vendor quotes, receipts, and other records associated with your move.
- Create a Budget: Moving can be expensive! Evaluate your resources and establish a realistic budget for making your move.
- Request Estimates: Contact reputable moving companies to provide an in-home estimate. If you’re planning a DIY move, compare quotes from truck rental companies in your area.
- Get Some Help: Select a moving company and reserve your moving date. Some moving companies will even help you pack!
- Gear Up: Order boxes and other supplies such as tape, bubble wrap, labels, and permanent markers.
- Sort & Purge: It’s a great time to get organized! Start sorting your closets, the garage, and the attic. We offer large-scale waste removal services for unwanted furniture or bulky items.
- Clear Out Clutter: Host a garage sale or donate your unwanted things to charity.
- Update School Records: If you have kids that are in school, arrange to transfer school records.
- Change Your Address: Pick up a change of address form from your local post office, or change your address online.
- Put Out The Word: Notify charge accounts, insurance companies, health-care providers, and other organizations of your pending change of address.
- Box It Up: Begin boxing up your belongings, starting with items you won’t need to use for a few weeks.
- Label Your Life: Make unpacking easier by labeling boxes with the room they belong in.
- Disconnect: Schedule disconnects for utilities such as gas, electric, water, and telephone service. Arrange any refunds that are due and schedule connections for your new residence.
- Discontinue: Cancel newspapers, Internet, cable TV, security, pest control, cleaning help, lawn maintenance and any other services you subscribe to.
- Take A Day: Notify your team that you’ll be out of the office.
- Take Out The Laundry: Empty dresser drawers, cabinets, and other storage spaces and ensure that all furniture is empty.
- Make a Survival Kit: Pack a suitcase with items you can’t live without until you get moved in and unpacked.
- Conduct a Final Scrub: Clean out the refrigerator, wipe down the sink and perform a final cleaning of your home.
- Book A Sitter: Arrange any moving-day needs for the kids and pets.
- Double-check The Details: Reconfirm the moving company’s arrival time and other details.
- Emergency Cash: Stash some cash, which may come in handy for a post-move pizza at the end of a long day!
- Rest Up: Be sure to get a good night’s sleep!
- Say Bye: Don’t forget to say goodbye to your neighbors!
- Do a Final Walk Through: Do a final walk of your home, turn off the lights and thermostat, and lock all of the windows and outside doors.
- Take Inventory: Before the movers leave, be sure to take an inventory of all your belongings to ensure nothing is missing.
Ready to find your dream home?
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