Knoxville TN Real Estate Blog

Now that you have found the home of your dreams and your loan is being processed so begins the waiting game.  At this point you should be relaxed and be confident as you are hopefully in the hands of a great Knoxville Buyers Agent who will be orchestrating the efforts of the mortgage professional, home inspector, title company, appraiser, termite company, sellers, and the Selling Agent and making sure everything comes together.

As a Buyer your duties are actually quite simple.  First of all, as the sales contract states, you have to agree to cooperate with your chosen mortgage professional and make sure they have all the financial documents they need.  If you fail to do so you could be in breech of contract, lose out on your home, and potentially lose your earnest money.  However, as long as you have a good Buyer's REALTOR® they will facilitate this process and make sure you stay on track.

Moving day will be filled with lots of activity and will most likely be a busy day so make sure that you don't forget one critical item- applying for and getting utilities turned on.  While the utilities may currently be on in your new home, most Sellers have the utilities scheduled to be turned off the day of closing.  This means that if you fail to set up utilities you could find yourself left in the dark.

Luckily, setting up utilities in Knoxville, TN is quite simple. 

1. Find out what utility company your new home has service with- your REALTOR® will be able to supply you with this information.  (Keep in mind that depending on where the home is located- you could have up to 3 different companies).
2. Contact the Knoxville Utility Companies- some allow you to apply by phone or fax, while others require you to physically go into the office (see chart below for contact information)
3. Make sure you bring your ID, copy of your Purchase and Sales Agreement, and check book- as an application fee is generally involved. 

 ELECTRIC COMPANIES

GAS SERVICE

 WATER AND SEWAGE

 

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 Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009

Instantly search for all Homes For Sale in Knoxville , Farragut, Powell TN, Alcoa TN, Lenoir City, Maryville, Oak Ridge, Corryton, Louisville, Blaine, Seymour, Strawberry Plains     

Please visit us at www.HomesForSaleKnoxville.com and www.KnoxvilleReal-Estate for additional information about the Knoxville TN area, Knoxville Relocation, and Selling and Buying Knoxville Real Estate.

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Many Knoxville Home Buyers first start their home buying search by looking at homes first and then start working on the financing aspects of purchasing a home.  The Knoxville TN real estate market is picking up and in several areas and price ranges have actually entered into a Sellers Market. 

If you are serious about buying a home in Knoxville TN, Maryville, Alcoa, Oak Ridge, or surrounding areas you should start by getting your financing in order first.

There are several reasons for this:

1. You may waste your time looking in the wrong price range- there is nothing more disheartening than getting your heart set on a $250,000 home only to find out that you can only afford or qualify for $150,000 or that your dream home does not qualify for the type of loan that you need.
2. Not all homes qualify for all types of loans. 
   1. If you don't have a lot of money to put down you may be well suited for a FHA loan.  FHA has specific regulations- for example many flipped house may not qualify (unless the current owner has owned it for 90 days).
   2. If you are interested in living in a rural area some areas in Knoxville will qualify for a 100% USDA loan (if this is the loan for you your search needs to be very specific as only a few areas qualify).
3. If you find a Knoxville foreclosure or a Knoxville short sale they REQUIRE a pre-approval letter, no exception.

If you are a 1^st Time Home Buyer in Knoxville it is even more imperative that you get pre-approved as the $8000 tax credit is quickly coming to an end- you must be closed on your home by November 30, 2009.

Many mortgage lenders are requesting 30-45 days to close (to allow cushioning for potential delays) meaning that in order to be safe you should plan on being under contract by October 15^th to make sure you don't miss out.

If you are looking to buy a home in the Greater Knoxville TN area instantly search all homes for sale at www.MyKnoxvilleHomeSearch.com.  If you are looking for a luxury home in Knoxville TN visit http://knoxvilleluxuryhomesellers.com.

Knoxville Home Buying Series: 

How to Buy a Home in Knoxville TN- Step 1- Secure Your Financing
How to Buy a Home in Knoxville TN-Step 2- Determining the Best Knoxville Neighborhood For You

Free Buyers Tools

Instantly search all properties for sale in the Knoxville TN and surrounding areas now!
www.MyKnoxvilleHomeSearch.com

Visit Christine McInerney and Jennifer Halinkowski with Keller Williams Realty on-line at:
www.HomesForSaleKnoxville.com and www.KnoxvilleReal-Estate.com
Office: (865) 694-5904
Christine (865) 237-5289 and Jennifer (865) 621-3658
Mail to: McIn-Kowski@HomesForSaleKnoxville.com

Instantly Search For All Knoxville, TN Homes , Condos , and land For Sale!!

 

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 Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009

Instantly search for all Homes For Sale in Knoxville , Farragut, Powell TN, Alcoa TN, Lenoir City, Maryville, Oak Ridge, Corryton, Louisville, Blaine, Seymour, Strawberry Plains     

Please visit us at www.HomesForSaleKnoxville.com and www.KnoxvilleReal-Estate for additional information about the Knoxville TN area, Knoxville Relocation, and Selling and Buying Knoxville Real Estate.

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