Buying a Home
Today’s buyer has many more outlets than before to search on their own for homes.
With this change in philosophy my process still consists of the following:
- Research the area and provide homes to fit my clients and their criteria and also use some “out of the box” thinking
- Research to determine the market for homes in the immediate area prior to making an offer
- Provide all documentation needed to my client in order for them to make the right decision in purchasing a home
- Disclose any information to my clients that I have knowledge of regarding any property
- Making any inspection appointments needed
- Attending all inspections either with my clients or on their behalf
- Work with any local entities for permits, etc.
- Prepare all documentation to ensure my client is protected
- Review HUD settlement statements for my client prior to closing and attend all closings
For many people, purchasing a home can be an intimidating event. However with a bit of up-front planning, it’s not that confusing. I like to give buyers an overview of the entire deal so they understand exactly what to expect. I also have a detailed buyer’s check-list available upon request which helps you with your search of your new home. Below are nine good steps to follow when buying a home:
Step 1 - Get Ready to Buy
There are plenty of things you should contemplate before starting your home search. You’ll most likely want to put together an outline of features you need, get an idea of what neighborhoods and school districts you want to live in and start working on your budget. Keeping in mind your mortgage payment less than or close to 1/3 or your monthly income is a good rule to adhere to.
Step 2 - Communicate with a REALTOR
That’s where I come in….…I’d be happy to schedule a time to meet with you and communicate with your regarding why you want to buy a home and get an idea of your plans for the future. We will discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and school districts.
Step 3 - Start House Hunting
After we meet, I’ll start looking for homes on the market that suit your needs. I’ll preview many of the homes and reject the ones that would be a waste of your time and then I’ll set up appointments to view the homes when it’s convenient for you. Of course with today’s technology I can always provide you with additional information on any home you may find as well.
I will ask you to tell me about things you like and dislike about the homes we view. Oftentimes, buyers change their wish list as we tour houses and some things become far more substantial than others. If that’s the case, I’ll go back through all the listings and trim it down to the home you’ve been dreaming about.
Step 4 Understand the Market
Your agent’s knowledge of the home market is an essential factor in your house search. I assure you I am familiar with the neighborhoods and schools and if I don’t know an answer am dedicated to get that for you as soon as possible
Step 5 - Find The House
I am confident we’ll find your dream home. When that happens, I’ll meticulously develop your purchase offer. The offer will be tailored keeping your needs in mind, including several contingencies. A few examples are: obtaining financing, completing the home inspection, and a clear title
I will ask you to tell me about things you like and dislike about the homes we view. Oftentimes, buyers change their wish list as we tour houses and some things become far more substantial than others. If that’s the case, I’ll go back through all the listings and trim it down to the home you’ve been dreaming about.
Step 6 - Negotiate the Deal
Most contracts are not closed on the initial offer. It is pretty common to receive a counter offer, but you don’t want this to intimate you. We will talk about whether or not to take the counter offer, propose our own courter offer or decline the seller’s offer and move on.
The state of the market can determine how aggressively we negotiate the deal. In addition, we will work within your financing constraints. When it is all said and done, we will put together a contract that is best for you.
Step 7 - Obtain Your Loan
After the contract is finished, you will start working with your mortgage lender to close he loan. If you’re already pre-qualified, this won’t take long at all, however you will need to keep in close contact with your lender. I will look after all of the property information you lender may need.
Step 8 - Close the Deal
You should get a Good Faith Estimate detailing your closing costs from your mortgage lender within three days of getting your application. The estimate rests on the loan amount, and RESPA requirements mandate that it has to involve all closing costs and be within a precise range of accuracy. I will review the estimate with you and check to see if everything looks okay.
Then we will close on your home. This should occur at a title company or escrow office and will probably be a smooth and peaceful event.
Step 9 - Move In!
It is time to move into your new home. Enjoy it! If you need anything or have any questions, simply contact me for assistance.
Are you interested in buying a home?
Contact Kim by clicking the button below, or give Kim a call at (636) 399.7159
