First Time Homebuyer ?

A little background..... we are going to buy the house we currently live in from our landlord (or at least very interested in doing so), we've already gotten the pre-approval from the bank for the mortgage and have also agreed upon a price for the home. My questions are as follows:

1. pre-approval- I am assuming given all the information we provided the bank is correct they will provide us with our mortgage?
2. Home Inspection- Is this the next step for us to do? I've seen a wide range or prices for this service and I was wondering if you have a recommendation as to who to use.
3. Cost of lawyer? recomendations?
4. What are the next steps after the above?

Any information would be helpful as everything seems so overwhelming.

TIA!

Re: First Time Homebuyer ?

My DH and I are also first time homebuyers. We are scheduled to close around the 21st of this month.

We got our pre-approval through a family friend and she said they just do background/job/salary checks. She said a good amount of the time when you are pre-approved you can get a mortgage from some bank.
(That was our biggest fear)

We paid 400 for our iinspection which included a termite inspection. The guy was WONDERFUL. If you want his contact info just let me know (FM). We actually used him 3 times since the first 2 didn't go through and he took off $50 each time.

Our lawyer is $700, we got her through a family member and so far she is great. If you want her info again FM me.

After the inspection comes
1) Contracts
2) Appraisal
3) Waiting
4) More waiting
5) Homeowner's insurance quotes/purchase
6) Closing

I hope that helped!!!

Re: First Time Homebuyer ?

We are first time homebuyers, and we just closed on Tuesday!

FM for info on lawyer and inspection company if desired.

ETA: We did end up getting our mortgage through the same bank in which we obtained our preapproval.

Message edited 6/1/2006 5:33:41 PM.

Re: First Time Homebuyer ?

I know 2 attorneys that would be great to work with if you want their info let me know I believe they charge $950. I use to work with both of them. Also if you want an inspector I used a great one in Bellmore--this would be your next step after you have decided on a price with your landlord or they may let you have an inspection prior to an actual agreement on price. Let me know if you want any of the info.