Buyer's Guide

The Multiple Listing Service provides up to date changes in our housing market. Clients are able to see down to the minute availability to homes that are on the market, have gone under contract, been withdrawn, have expired or have closed. Our MLS includes all properties that are publicly listed within the Nashville and Middle TN areas. This site has the capabilities to send auto-notify emails to you on specific type homes that meet your criteria. Clients can choose to have emails come to them instantly, daily, weekly etc.

Dotloop is a program Onward Real Estate uses to facilitate all electronic signatures for all necessary paperwork throughout any buying or selling transaction. It is secure, confidential, and user friendly. There is no need to set up an account. The program will also send you all completed signed documents for your records to keep for safe keeping.

Earnnest is a secure, convenient, digital payments platform that allows for a fully digital transfer of funds in real estate transactions.

Down Payment: This amount will always vary depending on the type of loan. The minimum you can expect is between 3-5% of purchase price.
Earnest Money: Typically 1% of purchase price. It’s held in escrow until closing, and goes towards total cash to close.
Appraisal: You can expect to pay between $350-500.
Inspection: You can expect to pay between $250-600.
Homeowners Insurance: This is typically about 1% of total home cost.
Closing Costs: This is typically about 2% of purchase price.

I recommend submitting a pre-approval letter with any offer, as this greatly increases the chances of a seller selecting your offer when compared to others who may not be pre-approved. The letter comes from a mortgage lender, and typically can be obtained in less than a day.

A great lender can help make sure you close on time. A local lender is also aware of things that are common in Nashville, and specific to the market. The lender will also work to find the best loan option for your needs, and provide you with important information like exact funds needed for closing. Please complete all requests from lender as soon as possible! Delayed responses may result in a delayed closing.

The inspection period is your opportunity to evaluate the condition of the home using an unbiased expert. This should be completed by a licensed home inspector. An inspector will evaluate the condition, structure, and mechanical systems on the property. This is also a time to determine what items need to be repaired or replaced.

A home appraisal is a trained professional’s objective point of view on the fair market value of a home. Knowing how much a home is really worth protects the buyer from paying more than the property is worth. With a home purchase, it also assures the lender that it is giving the borrower an appropriate amount.

The attorneys and staff serve as your legal representation during the purchase of your home. The title company will prepare all closing documents, provide wiring instructions, and order your title insurance. Please make every effort to complete title requests as soon as possible. Delayed responses may result in a delayed closing.