The Buying Process
When purchasing a home, you are faced with a multitude of decisions. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be a complex and tiring process.
I can help you save time and money than if you undertook this challenge on your own. I will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and help you through the myriad of details attending the actual purchase.
I am always familiar with the current homes on the market, and I know neighborhood values well, so I can help you determine which properties are fairly-priced and in good condition before you start your search. Below is a high-level outline of what you can expect in your search and purchase of your new home.
Understand What A Buyer’s Agent Does
As your agent, I work for you, representing your best interests. I will provide you with a Working with a Realtor Agreement, which clearly outlines my responsibilities and commitments on how you will be represented. In most cases, I will not require payment from you as my fee is typically paid out of the commission charged to the seller of the house that you buy.
Get Pre-qualified for a home loan
Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Some Buyers choose to buy as much home as allowed while others are more conservative. The decision of “how much house to buy” requires an honest and frank discussion and assessment of your finances with a mortgage specialist.
If you don’t already have a lender you can turn to, I have compilelist of mortgage professionals who can explain various financing options and help you determine how much you can comfortably afford based on your income and existing debt. Discussing your needs and objectives with a lending professional will save you a lot of frustration and wasted time.
Being pre-qualified allows you to move swiftly when we find the right home, especially if/when there are other interested buyers for the property. It also indicates to the seller that you are serious and can afford to buy the property.
Outline what you want
The next step in home buying is to create a realistic idea of the home you’d like to own. What features will affect your buying decision? I will conduct a buyer’s interview with you to help identify what’s important to you.
Visit properties & rate the homes on your tour
Now we’re ready to view properties. I will provide you with reports of homes and neighborhoods we are viewing so you can keep track of what you have seen. After touring each home, be prepared to write down what you liked and didn’t like. Keep this list handy so you can refer back to it as needed.
Try out the search feature on my website or view my site on your phone to get my mobile app. This app can display all homes that are for sale based on your location which might be useful when you're driving around an area you like.
Don't let emotion blind reason
Buying a home is an exciting time and while your decision will likely be influenced by some personal emotions, it's important that they be validated by facts and reason. I will help you view your decision objectively, removing some of the emotion from the negotiating process and provide you with the information you need to make sound decisions.
Make an offer
Once we’ve pinpointed your dream house, it’s time to get serious about the financial and contractual side of the purchase. I will help guide you through the entire process.
Recognize different negotiating styles and strategies
Many buyers think the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations. If you have chosen your Realtor wisely, the most effective strategies for this particular situation will be revealed to you. Experience can mean a better deal at the negotiating table with a minimum amount of hassle.
Knowing and understanding your rights and obligations
It is important to understand completely the terms in your offer to purchase. Wrong assumptions, poorly written or missing clauses and not understanding how the clauses affect the purchase can lead to increased costs or a void contract. An experienced realtor can explain the agreement to you and help you to fulfill your contractual obligations.
Arrange for a home inspection
After your offer is accepted, set up a home inspection. This is an important part of the process so that you can feel confident about the structural & mechanical integrity of the home. I can recommend several inspection companies and will ensure the appropriate clause is part of the offer. The contract may need to be re-negotiated if the inspector finds something during the inspection. I will help you with this process and together we will conduct a “walk-through” of the property prior to closing, so that we can verify any requests to remedy have been completed.
Close on your new home
This is about a one hour procedure where you officially become the new owner. I will thoroughly review everything with you prior to the closing so you will know exactly what to expect.