I will work with you to create a custom home buying plan, but below are some of the steps you can expect it will include:
Pre-Approval Before we go out searching for homes, it is important that you get the financial side of home buying squared away by meeting with lender(s) and getting pre-approved. This way you know your homebuying budget and can move forward with an offer, confident in your offer and down payment amounts. Your Purchasing Power may be more than you think!
Determining your wants and needs You probably already have a list going of the things you want in a new home. We will prioritize the things that you need over the features you want. We will also discuss how flexible you are on certain terms so I know how “out-of-the-box” possible solutions can be.
The Search Based on your wants and needs list, I will develop a search plan that is right for you. I will be searching for a home that meets your needs daily and will send you any that might be good contenders. If you are like most buyers, you will also be searching online and may find homes that are a fit. I will set up your own, customizable, search account which will provide daily alerts based on parameters you set up. Any that are a good match will be ones I will set up appointments for us to see in-person.
Determining Your Offer Price It can be difficult to know how much to offer. If other buyers are trying to buy the same home, our strategy will be different than if the home has been on the market for a while. I will work with you to determine the market value and help you find a price you are comfortable with.
Writing The Offer There is a lot that goes into writing – no, crafting! – an offer (also known as the purchase and sale agreement). Price is certainly important but so are other contingencies such as inspection, appraisal, neighborhood review, and financing. And what if you need to sell your home before buying this one? All of these and much more will be considered when we write the offer.
Negotiating With The Sellers Our negotiations start before we even write the offer, to determine how we will craft a winning offer. The sellers may accept your offer outright, or they may counteroffer. In that case, I will work with you to determine your next move and will negotiate with the sellers accordingly. I have my Certified Negotiation Expert designation and am trained in the fine art of solution-finding.
Title Commitment The title company will review the property history to make sure transferring ownership is clean (there aren’t other interests in the property) and there are no disputes. In some cases, easements, rules and regulations around the property’s usage are also identified so you can understand what you can and cannot do with your property.
Inspection If you choose to have an inspection (and I recommend you do!), we will work this into the offer as a contingency. We will have the opportunity to determine the items on the report that are of most concern to you and negotiate with the seller to have them fixed. Or, if there are just too many issues, you can also choose to cancel the transaction depending on how the purchase and sale agreement is worded.
Appraisal Once the inspection contingency is resolved, the lender will order an appraisal of the property which will determine market value. This protects both the bank and you.
Document Signing A day or more before your property is scheduled to close, you will be called into the escrow company for a closing agent to guide you through the myriad of paperwork you will need to sign. Make sure to bring your ID and expect to be there for at least an hour. If you need to have funds available for closing, the escrow agent will direct you on how those funds need to be transferred – usually via wire transfer – and when they are due.
Closing Closing occurs when the property transfer is recorded at the County.
Possession The keys are yours! This doesn’t happen until after closing – and recording of the deed – at a designated time and day indicated in the paperwork.