Hire a Realtor!

Choosing the right buyers agent can make all the difference in:

• ­Finding the right home for you

• ­Getting the best price

• ­A smooth buying experience

Get Pre-Approved for a Mortgage.

This step is a crucial one to take very early in the process. It will allow you to determine what price range you should be looking in to find the right house to fit your budget.

It’s also very important to find the right lender. A good lender will communicate well, help you understand what is involved in the process of obtaining a mortgage, be transparent about associated costs, and work to avoid delays in the closing process.

Find your new house!

By now we should have an idea of what you are looking for in terms of price range and location. Th is a good time to be thinking about what you “must have” in a home and what you would ”like to have.” Sharing a list of these things with me will help you save time from being shown houses that you know you don’t want. I will set up a client portal that will let you know the minute a house that meets your criteria hits the market. Chances are you will be competing with other similar buyers who are looking at Zillow every day, so the sooner you let me know of something that looks interesting the better. We want to view the property and make an offer before someone else beats us to it!

Make an offer.

This is an exciting step! By now you have decided on “the one” and are already pre-approved, so you are ready to move forward with an offer to purchase. The basic elements of an offer to purchase are:

• Purchase Price (your max price)

• Down-payment Amount (can be as little as $0 depending on the loan type)

• Earnest Money Deposit (a show of good faith to the seller that you are serious)

• Inspection Option (do you want to negotiate repairs?)

• Contingencies (seller paid closing costs, home warranties, etc.)

Completed Contract!

Congratulations, you bought a house! Sort of. This is the step of the process where we say a home is “pending,” or “under contract.” Here you and a seller have agreed to transact that sale of a property at a specific purchase price, provided certain conditions are met.From here on out we’ll work with the lender on the actual loan approval process (as opposed to pre-approval, which we already did). You’ll need to submit paperwork to the lender, including paystubs from your employer(s) to demonstrate your creditworthiness for the mortgage. §We’ll schedule a home inspection and an appraisal ASAP, so we know if any repairs are needed prior to closing, and to make sure the bank is able to make a loan on the property as collateral, based on its appraised value.

Home Inspection

This is normally the most stressful part of the process for both buyers and sellers, because it involves the most uncertainty. As a buyer, you’ll most likely want a “complete property” inspection wherein an inspector will spend hours going through the house and examining it from stem to stern. You and your realtor will then meet the inspector at the property to review findings in person, before they provide us with physical copies of their report. Then you’ll meet with your realtor to discuss the most significant issues (if any) that we want the seller to address before closing. You will have a limited amount of time to submit repair quests, so you’ll want to get to this point as soon as possible.If buyer and seller can’t agree to negotiated repair terms, the buyer is free to walk away from the deal. Fortunately, this only happens in rare cases!

The Appraisal

An appraisal is when an appraiser—a professional who is specifically trained and licensed to evaluate the value of real estate, will issue an estimate of the property’s value. The lender issuing your mortgage is going to require an appraisal on the home to ensure its value as collateral. Basically, a lender just wants to make sure that they are not lending more money for a property than it is worth.

Waiting Period

By now, negotiations are totally wrapped up, we know the property appraised at an acceptable value for the lender, and we have a pretty good idea of a closing date. This is a great time to tie up loose ends and really get in gear with planning for the move to your new place.

***Important!***: this is NOT a great time to purchase big-ticket items in anticipation of your move. Lenders are going to run your credit again before closing and this can complicate and/or upend the whole process. Buy that fancy Tempur-Pedic mattress and the big truck that fits in your new garage AFTER you’ve moved in!

Final Walkthrough

Sometimes in the 24 hours prior to closing we’ll do your final walkthrough before you take possession of the house. This is to ensure that any agreed upon repair requests have been completed as described, and the seller has left the property in at least as good condition as when you agreed to purchase it. Assuming that the seller has held up their end of the agreement with regard to repairs (they usually do), you’ll sign the final walkthrough form and then hurry up and wait until closing.

Closing Day

Be ready to sign your initials approximately 500 times. You’ll want to budget an hour of time for closing and bring your driver’s license and a check (cashier’s check if required) to cover closing costs.

Congratulations…here are the keys to your new house! Please keep in touch and let me know if you’d like pictures of you in your new place when you get setup. I have a photography business on the side and am happy to take pictures to help you commemorate your move at no charge!