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Destination Purchase Information

It is suggested that you have pre-approval for a mortgage prior to taking a home finding trip. You may use one of RRI’s preferred lenders or any lender of your choice. Although you may use any lender of your choice, using the RRI preferred lenders will keep your loan costs at a minimum and your service will be provided at a higher level because your move will be managed by a relocation department at the preferred lender.

Your SCORE Relocation Consultant is available to advise you on your offer to purchase, inspections, closing questions, etc.

Your Realtor will probably ask you to sign a “Buyer’s Agency Agreement”. By doing so, the Realtor agrees to primarily represent your interests in any transaction, unless he/she also has the listing of the subject property, in which case he/she becomes a transactional agent, passing information between the two parties. If you do not sign the Buyer’s Agent Agreement, it is understood that the Realtor represents the seller.

Typically, the agent who assists you in buying a home is compensated out of the commission paid by the seller of the home. If you sign a Buyer's Agency Agreement you agree to pay the Realtor a commission, possibly even if you purchase "for sale by owner" or new construction. Read the agreement carefully, and limit the term of the agreement. If you have any questions about what you are signing, contact your Relocation Consultant.

It is recommended that you have a professional home inspection prior to closing on your new home.

Some points to remember when selecting your new home:

Watch out for:

  • Homes on a main / busy street
  • Largest or most expensive home in the neighborhood
  • Non-conforming property (contemporary style in an area of traditional homes)
  • Vacant land adjacent to the house
  • Close proximity to commercial or industrial property
  • Exterior of synthetic stucco or LP siding
  • A price to good to pass up
  • High tension power lines
  • A steep driveway
  • No second floor bathroom
  • New construction (you don’t want to purchase in Phase I of a four phase development if you may need to relocate in a few years)

Look for:

  • Least expensive home in the most expensive neighborhood
  • The best school district
  • A home that is typical in style and size for the area with typical amenities
  • A home with good commuting distance to work, school and shopping
  • An area with good resale history