Realty Corporation of America provides our homebuyers with aggressive, innovative and full service representation.  We also understand that the process of buying a home can be stressful without a full service Company behind you every step of the way.  Realty Corporation of America understands its obligation to make sure you have a clear understanding of the entire process.

Select a Home
You'll know it's right when you see it. We’ve added a comprehensive searching tool on the Realty Corporation of America web site so you can consider the widest array of properties.  Of course, you'll want to make sure the surrounding community is as lovely as the home. Check into the quality of the local medical facilities, the student-teacher ratio in the school system, the access to metropolitan airports, cultural events, parks, places of worship, and any other services important to your quality of life.

Obtaining a Home Inspection
Realty Corporation of America strongly advises its clients to obtain a comprehensive home inspection to fully review all aspects of your new home.  Any defects or mechanical problems are identified – and solved – before proceeding to closing.  And if major issues are discovered, the Buyer may, at the buyer’s discretion, terminate the purchase agreement with no liability.

Securing A  Loan
Now it's time to work out the financial details. How much will you put down and how much will you borrow? At what interest rate? Fixed or variable? That is, will the principle and interest rate remain fixed for the duration of the mortgage or will the rate vary depending on the financial index on which it is based? And how many years will you take to pay it back? As you review your options with your Transcontinental Lending Mortgage Specialist, remember you'll also need enough cash for the down payment and closing costs.

Arranging for Homeowners Insurance
Unless you pay cash for your home, one of the requirements that will be made by your lender is proof of a valid homeowners insurance policy, secured before closing. This policy will protect your investment as well as the lender's. Typically, you are required to pay for a year of the policy at the time of closing; later payments can then be rolled into the cost of your monthly mortgage.

Closing
Closing is conducted by an outside, disinterested party and ensures that the home you're about to buy is exactly what's presented in the contract. The closing typically requires the following documents:


Supplied by the builder or homeowner:
 

• Breakdown of closing and mortgage settlement costs
• Original Purchase Agreement
• Title or Deed

Supplied by the buyer:

• Valid identification
• Certified funds for down payment and closing costs
• Loan papers
• Proof of Homeowners' Insurance

Many Realty Corporation of America customers elect to utilize the services of The Title Assurance and Indemnity Corporation of North America.  Any questions concerning title or closing can be directed to Mr. Jake Showalter at (216) 348-0400.

Once you approve and sign the necessary documents, and the deed is filed in the county where the property is located, the house legally belongs to you.