| Get Everything in Writing
- Agent agreement
In some states, you have to sign an agreement that you
understand your agent's role in your transaction. If you work
with a buyer's broker, always sign an agreement to specify
time limit and service fees.
- Purchase contract
Verbal contracts guarantee nothing. Read the purchase contract
thoroughly and revise any terms unfavorable to you.
- Loan commitment
After you submit the loan application, you receive your
lender's written pledge to loan you a certain amount of money
on a specific property for a certain time.
- Interest rate lock-in
This is your lender's written commitment to guarantee you a
certain interest rate. Be sure that it's valid for 30-45 days
to cover your closing.
- Closing costs estimate
Lenders are required by law to give you a good-faith estimate
of settlement costs within three days after you apply for a
loan.
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