Pre-approval for your Mortgage:
Interview with banks / Choose your top bank and negotiate your mortgage rate. When discussing a mortgage with your loan officer it is a good idea to have them provide you with a list of documents required for approval, depending on your situation, for example; where you are from & how long you have been resident in the Cayman Islands (?)
They will require credit information and or a letter of introduction from your previous bank, having the referral items, credit rating items and the bank's list of requirements prior to your visit will allow you to speed up the mortgage approval process.
Your Total Cost:
Finding a home that suits your budget and needs: Once you have established a budget, you start examining what you and your family top five requirements in a home are, this will aide and ease finding a property that you identify you will be comfortable in for years to come.
Offer to Purchase: You have found your special property that you would like to purchase, you then transition into the stage of placing an offer and if need be start the negotiation process.
Time to Close: Once all the conditions of and to the purchase have been satisfied, the offer to purchase becomes unconditional and both parties can move towards closing on or before the prescribed closing date.