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When you have an accepted offer on a property...

Wendt Key Team Realty understands the many questions and concerns Buyers have after they have an accepted offer on a property. That’s why we are providing you a list of information we hope you will find helpful in making this a smooth transaction. It’s our goal to provide you with the most professional and informative service available. Wendt Key Team Realty and its TEAM are always just a call away when you have a question.

  • Mortgage Application:

    Contact Lender or Mortgage Company to make appointment for formal mortgage loan application. At that time, Lender will order credit report and appraisal, and may ask for further verifications from you that are needed to process your loan. The Lender will probably require $200-400 from you to start the formal loan application process.
  • Home Inspection

    If you have chosen to have a General Home Inspection by a qualified inspector, you have a set amount of time, as stated in your Purchase Agreement Inspection Addendum, from acceptance of the purchase agreement to have the Home Inspection completed. We have provided you a list of some of the Home Inspectors that service this area-you are free to contact any Inspector of your choice. You will make the appointment for the inspection at a time that is convenient for you and the Inspector. Please call Wendt Key Team Realty with the time and date so we can contact the Seller or the Seller’s Agent to confirm the appointment. The Home Inspection takes approximately three hours to complete and usual cost is from $200-$350. If you disapprove of the inspection report because of defects in the property, contact your Agent immediately to discuss your options according to the Purchase Agreement Inspection Addendum.
  • Underwriting

    After all needed documentation has been received by your Lender, the loan application and supporting documentation is forwarded to their Underwriting Department for loan approval. Loan approval may be given with certain conditions that must be met prior to closing the loan. Lender processing can take anywhere from 2-3 weeks depending on how quickly you respond to information requests from the Lender/Underwriting Department and how quickly the Appraiser can gain access to the property and complete the necessary requirements of the Lender. The Underwriter reviews all documents and approval, or non-approval, is determined.
  • Loan Approval

    After all requirements are met the Underwriter will review the loan package and loan approval will be determined. Any remaining contingencies can then be removed. (At this point we suggest that you contact Wendt Key Team Realty Ltd. to reserve the “FREE” moving truck if you haven’t already done so.)
  • Remove Contingencies

    Wendt Key Team Realty, Ltd’s. Closing Coordinator, Pam Hines, will order any inspections that are required as stated in the purchase agreement (Well, Septic, Termite, Gas Line, etc.).
  • Property Insurance

    Contact your insurance agent to obtain a homeowners insurance policy on your new property. You will need a Homeowners Insurance Binder and a one-year paid receipt when you attend the closing of your loan.
  • Title Company:

    Your Lender will contact the title company to complete the title exam, site survey of the property and set-up your loan closing for the purchase of your new property. They will also discuss the type of deed you would like to have prepared. There are several different types of deeds in the state of Ohio. Enclosed is some information regarding the types of deeds in Ohio. If you are unsure which type of deed you would like, please consult your attorney for legal advice.
  • Closing:

    The title company and your Wendt Key Team Realty Agent or Closing Coordinator will be in contact with you in regard to any information needed for closing. We will discuss with you a convenient time for the closing and inform you of the closing location. The closing usually takes about an hour. Be ready to sign lots and lots of papers!
  • Items to bring to closing:

    We like to tell everyone “Bring your Smile”, and a picture identification (Driver’s License or State ID). You will also need a Cashier’s or Certified Check for funds required to close the loan. Your Wendt Key Team Realty Agent, Closing Coordinator or the Title Company will call you with the final dollar amount that you will need to bring. They will also go over debits and credits on your settlement statement so we can catch any possible errors prior to the closing. You can always contact your Lender with any questions or concerns.
  • Final Walk-Thru Prior to Closing

    You, at your request, may make a final “walk-through” inspection of the property within three (3) days prior to Closing to assure that the condition of the property has not been materially changed. Please contact your Agent if you wish to have a walk-thru prior to closing.
  • Possession:

    If possession is 30 days after closing (or another specified time), you will exchange phone numbers with the Seller at closing and make arrangements for a date to transfer the utilities. If possession is at closing, you will need to have the utilities changed as soon as a closing date and time is determined. You will need to call the utility companies to have the billings switched into your name as of the date of closing.
  • Keys:

    If possession is at closing, keys will be given to you when all documents are signed. If possession is not at closing, arrangements will be made for the transfer of keys between you and the Seller at the time that you take possession of your new property.

Our goal is to create “Raving Fans” and “Customers for Life”. Please call us with any questions or concerns during your purchasing process. Your happiness is our greatest concern!