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[US][WA] First time buyer completely lost

On contract with about 1 week left until closing, and honestly I feel like this whole process I have been completely confused with no clear understanding of who is supposed to help me with stuff vs when its my job as "due diligence". I would really just like you guys to point out where I fucked up so that maybe next time (if there is) I can do better. Be brutal, I want clear information and criticism so I can learn from this.

Information

Individual

  • Mid 30's
  • Single
  • No debt (car, credit cards, everything paid off)
  • Credit Score 780-810
  • Income roughly $190,000
  • Down Payment saved $50,000

Property

  • Washington State
  • 40+ acres
  • Barndominium
  • List Price: High 4's
  • Sale Price: Low 4's
  • Selling "As Is", no maintenance

Order of Events

  1. Found lender
  2. Got pre-approved and amount (7.25% with 1 point, 600k ceiling)
  3. Searched for locations
  4. Confirmed Fiber internet via FCC map
  5. Confirmed internet with company listed on FCC map
  6. Confirmed lack of water rights via County map
  7. Found realtor online
  8. Visited locations
  9. Confirmed location is viable with lender
  10. Shopped around other lenders for lower interest
  11. Stuck with original lender
  12. Put in offer
  13. Offer countered (with comps)
  14. Put in counter (advising comps are not valid)
  15. Counter accepted (contingent on rent back to occupy for 21 days)
  16. On contract
  17. Scheduled:
    • Two home inspectors
    • Private appraiser (additional to the lenders)
    • Electrician
    • Septic Inspection
    • Two water quality tests
    • Well draw down test
    • Radon test
  18. Confirmed tax designations with county
  19. Called insurance companies and sent binder request (includes hobby farm policy)
  20. Seller Realtor hired title insurance and escrow company
  21. Confirmed legal definition of land on closing documents with county

Lender

I had a lender from the last time I was looking for a house (just before covid screwed everything for everyone), I decided to start with them again. Overall the process with them was pretty easy but they pulled my credit right away which put me on an immediate timetable (2 weeks to shop around). They advised they believe the interest rates will go down and they will offer $2500 towards a refinance within the next 3 years (ok crystal ball...).

Realtor

I am not sure what an realtor is supposed to do? I picked a well reviewed guy I saw online, but somehow ended up with another lady in their office which annoyed me. Beyond being a centerpoint for people to call, and being at the location for the inspectors... I really feel like she hasn't done anything or explained this process to me at all. She had no idea about the water rights, and honestly I feel like shes just tired of me turning over every stone on this. She kept telling me I didn't need a septic test because it was already just recently drained, and she also said I didn't need an electrician to come out.

I dunno, maybe I should have fired her.. but I have no idea what realtors are SUPPOSED to do so its like, how do I know if I got a bad one?

submitted by /u/SC_Druggie
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/14l8oqw/uswa_first_time_buyer_completely_lost/
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