Buying a home is BIG. If you are a first-time home buyer you are likely making the biggest financial decision and commitment of your life, so far. If you’re buying a second home, you are on the brink of achieving the dream of vacation home ownership. If you are relocating to the area you will have a million questions about life in your new community. From the best place to get a pizza to where you should schedule your weekly massage, I will happily give you my personal recommendation! All of these scenarios are extremely exciting, and it is thrilling to be part of assisting you to meet your real estate goals!
Everything about buying a home is big! Big happy when your offer is accepted followed by big stress while you wait for financing approval and navigate the inspection process. My job is to prepare you for what might happen and to manage this process so that the big happy is the prevailing emotion. As an experienced broker-agent, I will guide your transaction from showing to close, run interference, and anticipate and address issues before they become problems. That’s why an experienced agent who is working in your best interest is so important. I answer to you, the buyer, and will work tirelessly on your behalf.
I am available to you after you take possession of the home to assist you with problem solving and provide you referrals to the best professionals in the region who can assist you in caring for and improving your new home! As a single agent with a boutique real estate practice, my buyers work directly with me from touring to closing and beyond. Let’s start shopping!
LET’S BREAK IT DOWN:
THE PROCESS OF BUYING A RESIDENTIAL PROPERTY
BEFORE you start shopping, get financially qualified for a mortgage and understand how much you want to spend on a property. If you are a cash buyer obtain proof of your funds.
PRO TIP: Proof of funds or financing will need to be attached to the Purchase & Sale Contract to demonstrate financial ability.
Start reviewing homes on-line to get a sense of market value.
Establish a list of home characteristics that are MUST HAVES to narrow the search. Location, number of bedrooms and bathrooms, size of home, and the number of garages are examples.
PRO TIP: Being clear about what are the most important characteristics of your home can save a lot of time.
I will set up appointments to tour the properties that meet your criteria.
PRO TIP:Drive by the property before scheduling a tour to ascertain continued interest. Take advantage of open houses to see many houses in a short period of time.
MAKE AN OFFER
We will review the sales history of comparable properties within the school district and the specific street to arrive at an offer price. Know where you are willing to be flexible with either terms or price.
PRO TIP: Believe the data! The offer price should be contextual to recent sales performance and you should plan to pay at or close to market value.
Once our offer is accepted, obtain attorney approval and schedule inspections per the parameters as outlined in the Purchase & Sale Contract.
PRO TIP: I can help you identify an attorney and an engineering company.
Attend the inspection and take advantage of the opportunity to learn as much about your new house as possible.
PRO TIP: The engineer can be a valuable resource and is happy to answer a variety of questions related to home maintenance.
PRO TIP: The purpose of an inspection is to uncover latent material defects that a layman would not necessarily recognize.
RELEASE OF THE INSPECTION
Negotiate inspection issues making sure to adhere to the timeline as outlined in the Purchase & Sale Contract.
PRO TIP: Failure to meet contractually agreed upon time frames puts you at risk of losing the house.
If you are pursuing a residential mortgage, check in with your mortgage broker on a weekly basis to assure that the approval process is moving forward.
PRO TIP: Immediately fulfill all requests for data to avoid delays in getting the mortgage approved.
PRO TIP: Working with a local lender can be to your advantage.
PREPARE FOR YOUR MOVE
PRO TIP: Take this opportunity to get organized and sell or donate things that you no longer use or need.
Review title work with your attorney to assure that the title is free and clear of any encumbrances.
PRO TIP: This is an extremely important piece of work to assure that there are no liens or other issues that could prevent you from selling the house in the future.
Obtain the “Clear to Close” from the institution that is financing your purchase.
Work with your attorney to schedule the closing date.
PRO TIP: The date in the contract is a target date and is dependent on all of the parties having completed their work.
PRO TIP: The date needs to be coordinated with the attorneys, the buyer attorney, the seller attorney, and the financial institution attorney.
Call the utility companies and arrange for transfer of services and final meter reads.
PRO TIP: The seller is responsible for utilities until 11:59PM of the closing day.
Review the closing paperwork and arrange for payment by wire transfer or bank check.
PRO TIP: The paperwork should be provided to you three days in advance of the closing.
Schedule the final walk through of your new property 24-48 hours before closing to assure that the house is in the same condition as when you tendered the offer, that it is in “broom clean” condition, and that all repairs as agreed upon in the Conditional Property Inspection Release have been completed.
PRO TIP: Don’t save this task for closing day because if there are problems it could delay closing while work to resolve the issue.
Sign all transaction paperwork, execute payment, and collect the keys.
PRO TIP: File all paperwork associated with the transaction in a safe place. You will use it many times over the tenure of your ownership.