The Homesale Process with MKB, REALTORS

1. The Management Team assigns a MKB Sales Associate to take care of you and your family.

2. The MKB Associate will interview you to determine your needs and then be available to meet with you at your convenience. If you're new to the area, you may choose to just take a tour or you may want to combine a tour with looking at homes that the agent has previewed ahead and feels will meet your criteria. You may also want to visit schools, daycare centers or other places that are of interest to you and your family.

3. Become prequalified for a mortgage loan if you have not already done so before we meet. With the advice of your MKB Associate and lender, you will have a fairly good idea about the price range for your new home and your ability to make mortgage payments. In order to be prequalified for a mortgage loan, most lenders require the following information:
   

   1. The last two years W2 forms (K1s or 1099s, if applicable).
   2. Your current paystub(s) covering a 30-day period.
   3. Your most current bank statements and stock statements covering a 3-month period and quarterly report of your 401K or Profit Sharing Plan if you have one.
   4. Landlords' names and addresses for the past two years if renting or name and address of mortgage lender plus your mortgage loan account number if you own your current home.
   5. A list of all debts with account numbers, monthly payments and balances due.
   6. If self-employed or paid by commission, personal and business tax returns for the last two years.
   7. If divorced with an obligation to pay alimony or child support, you need a copy of your final divorce decree and/or settlement.
   
   

4. After you have found a home that suits your family's needs, you will sit down with your MKB Sales Associate and complete an offer to purchase, which your agent will then present to the Seller's agent and Seller. The offer to purchase (Purchase Agreement) should be properly signed and accompanied by an earnest money deposit.

5. The MKB Associate will present the contract to the Seller's agent and Seller, who may choose to accept, reject or make a counteroffer. After all of the details of the Purchase Agreement are worked out, everyone will sign it and it will be legally binding, enforceable contract.

6. Buyer will apply for a mortgage loan. Remember that most lenders collect funds to pay for credit report and appraisal at loan application.

7. MKB Associate coordinates and follows-up on the elements and time frames of the contract to assist all parties meet their obligations.

8. MKB Associate will work with inspectors, mortgage lender and closing attorney's office to be sure that all the details of the transaction are taken care of and a closing date scheduled.

9. The closings are typically held at anattorney's office or other settlement company. Generally, by the time of closing, the seller has signed the necessary documents to consumate the transaction, and the closing is usually attended by the Buyer and Buyer's Agent.  At this time all the legal documents are signed including the deed and deed of trust, the closing statement is explained, keys and garage door openers are turned over to the Buyer and the transaction is consumated. Once the deed and deed of trust has been recorded, proceeds and expenses can be disbursed. 

10. Move into your new home!