Buyers

BUYING

Buying a new home is one of the most important decisions you can make. As your real estate agent, my job is to help you translate your vision of home ownership into a reality.

During our first consultation, I’ll talk with you about what kind of home you want and assist you in developing a buyer profile. I’ll use my extensive local knowledge to choose property listings that match your criteria. As you review listings, I’ll be available every step of the way to answer any questions you might have about properties and neighborhoods.

Once you’ve decided to make an offer on a home, I’ll walk you through each step to ensure competitive negotiations, an appropriate final sale price, and an efficient closing process. After closing, I’ll be available to assist with your transition and move-in process, including referrals to contractors and inspectors.

BUYING PROCESS

Finding the Home You Want

Every purchase starts with you, so your first step is to decide what you want in a home. Make a list of essential features you’re hoping for, and another list of areas where you might be willing to compromise. Here are some factors to consider:

  • Condo, townhouse, or single-family home
  • Bedroom and bathroom count
  • Parking requirements
  • Proximity to schools
  • Length of commute
  • Transportation needs – Do you need to be near a Gold Line stop?
  • Outdoor space and features – Room for pets, balcony, deck, or yard?
  • Home condition – Are you willing to make cosmetic repairs? Open to a major remodel?

Financing Your New Home

We’ll also look at financing options. Every client’s situation is unique, but there are some basic parameters to consider as you move forward in your purchase journey. How much cash do you have available for a down payment? What is your credit score? How much money can you spend on improvements and repairs?

Your next step is to arrange a meeting with a lender specializing in financing home purchases. I’ll be happy to provide you with referrals to reliable lenders if you need them. As soon as you complete a loan application, your lender can check your credit and provide you with a loan pre-qualification and pre-approval letter that will be a major asset in purchasing your new home. They’ll also assist you with the financing process and walk you through anticipated closing costs and other financial concerns. Finally, they’ll help you determine a target purchase price that fits within your budget.

I’ll be happy to answer any questions you have, as well as provide you with my own expert advice on property values and financial commitments over time.

Locating Your New Home

Based on all of these factors,I’ll send you detailed regular updates about listings in your price range, and you’ll select a shortlist of properties that interest you. This process is collaborative, and you should feel free to give me feedback. The key is constant communication so that we can pinpoint what’s essential to you. If you see a property in your area, please let me know so that I can research it for you. I also recommend that my clients learn about neighborhoods where they would like to live by touring local public schools and visiting local businesses.

Making an Offer

Once we’ve zeroed in on a property, it’s time to make an offer! I’ll provide you with information on recent local sales and other factors so that you can make a competitive offer. Here’s a basic checklist for the offer phase:

  • Provide proof of funds, either bank statements or a letter from your lender.
  • If there is personal property you would like to include in the offer, usually including any feature not permanently installed in the home, notify me so that I can assist you.
  • Decide when you would like to close escrow. This is usually between 30 and 45 days of making an offer, but in some instances can be sooner or later.
  • Bring your loan pre-approval letter with you to maximize your negotiating power.
  • Bring proof of funds for your down payment and closing costs, either in the form of copies of bank statements showing monies on deposit, or a letter from your lender stating specifically that they have verified funds on deposit.
  • Be prepared to write a check to be placed in escrow within three days of acceptance of the offer. This earnest money deposit is typically three percent of the asking price, and must be in escrow within three business days after acceptance of the offer.

Closing

After the seller accepts your offer, escrow will be opened – you’re in the home stretch! At this point, you have a final checklist of responsibilities before you can move in:

  • Transfer funds to cover your earnest money check.
  • Arrange for a home inspection using the inspector of your choice or a referral from my professional network. I’ll be present to oversee all inspections and advise you on your best course of action based on the results.
  • Negotiate any repairs or concessions.
  • Bring your loan pre-approval letter with you to maximize your negotiating power.
  • Notify your lender that escrow has opened, and work closely with them to gather all necessary documentation on schedule.
  • Approve all disclosures and reports as they become available.
  • Arrange for hazard insurance using the broker of your choice or a referral from my professional network.
  • Loan documents are typically signed about five days prior to closing, and you should be ready to sign as soon as documents become available.
  • Arrange to have your closing funds wife transferred to escrow two days before closing.
  • Arrange to have utilities transferred into your name at the time you take possession.

FIRST-TIME HOME BUYERS

Buying a home is a complicated process, and it can be daunting for first-time home buyers. You can learn more about the buying process here, but remember these guidelines as you start your search.

Think about your “dream home.”Are you looking for a single-family residence, or a condo or townhouse? What kind of neighborhood do you want to live in? What areas are you interested in? Are you open to a “fixer-upper?” Do you need a large outdoor space for pets or entertaining? Do you need to be close to schools or public transportation hubs?

You’ll also want to consider your financial situation, including the amount of money you have on hand. How much can you raise for a down payment? What does your credit score look like? Do you have funds to devote to home improvements?

Purchasing a home includes multiple timelines for repairs, inspections, financial guarantees, and signing. As buyer, you’ll want to consider your own scheduling concerns carefully so that we can design a timeline that serves you. As your real estate agent, I’ll make sure the process runs smoothly from initial tour to final closing.