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- You choose a real-estate agent or Realtor® and sign a contract for the house-hunting process.
- You start the search for a house.
- You select a mortgage lender for pre-approval.
- The lender reviews your credit history.
- You find the house you want, and you make an offer for the house.
- The offer is accepted, and a purchase contract is signed.
- You apply for the loan for the selected house.
- The property is appraised.
- The title insurance company gathers information about the history of the property and makes a report.
- The report on the history of the house is evaluated, and a decision is made as to whether the title to the property can be confirmed.
- The title guarantee is issued.
- The loan to the buyer is approved.
- The seller delivers the title (deed) to the property to the buyer through the title insurance company.
- The lender provides money for the completion of the purchase through the title company and issues instructions for the closing.
- The title insurance company’s escrow agent prepares the documents for the closing.
- The parties meet to close the purchase.
- The buyer receives the “key to his dream.”
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