You may have been casually searching on the internet or driving past homes that interest you. Perhaps you have dropped by some Open Houses on a Sunday afternoon. But when the time comes that you are ready to get serious with your search, call Ann Byer, Realtor and let me help you get started; I can be your Home Buyers Guide. When you begin the process with a full understanding of the steps and decisions you will need to make along the way, your home buying experience will be a positive one. And my aim is to make it enjoyable. I take pride in providing all the information you need along the way to make the best decisions possible. I invite you to call or email me today for more information or to set up a personal consultation appointment at my office. I look forward to meeting you and finding out about your dream home.
Step 1: Determining Your Needs – the Buyer’s Consultation
The Buyer consultation gives you the opportunity to ask the many questions you likely have about buying a home. And it allows me to explain in detail what you should expect. I want to earn all your unique needs and dreams. By going over these details in an organized and professional way, we’ll start off on the right foot. I encourage my prospective home buyer clients to meet with me in this no obligation consultation, one on one. It is part of my Home Buyers Guide service.
Step 2: Financing – Talk with a Lender
It is important to meet with a lender early in the process to find out just how much you can afford. Ideally this should happen before you start to search for homes, immediately after making a decision to consider buying a home. This will give you a better understanding of your budget and the amount of funds you will need to get to settlement. It is important to work with a reputable lender, preferably a local person who can be easily reached during the process. A quality lender will identify potential problems early and can help to prevent a closing from delay or even falling apart. It is an unfortunate buyer who looks in a price range well beyond their means and falls in love – it’s best to look within the correct price range right from the start. The lender will provide a “pre-approval” letter. This letter will be needed to submit with the offer for purchase when that time comes. You want to be ready when the perfect house comes along. Contact me for a list of preferred lenders.
Step 3: Private Home Tours – Let the Fun Begin!
Being able to see houses can be very excited, but can also be overwhelming. It will help you to sort through the many options and to find out those things that are most important to you. I encourage my clients to prepare a list of the ten most important elements in a new home. By reviewing this list with each home you see, you will stay focused on what you really want, and will not be swayed by “bells and whistles” in a home that doesn’t meet your essential needs. It is very common to find that this list changes over time, and that is okay! That is what the home touring process is meant to do. Have fun and enjoy this process.
Step 4: Offer & Negotiations
Because we have reviewed the process and secured the mortgage pre-approval, you will be ready to act once you find the perfect home you wish to purchase. I will guide you through the Agreement of Sale and we will prepare your offer based on the home’s condition, location, amenities, and the value of comparable homes that recently sold in the area. I will check with the Listing Agent about any other possible offers so that we prepare the best offer possible. I will submit the offer and follow up with the Listing Agent. We will negotiate the terms together. And I will keep you informed every step of the way.
Step 5: Inspections and Mortgage Application
Once we have a signed Agreement of sale, we will set up inspections and move forward with a mortgage application. I will walk you through each step, and we will prepare together your Reply to Inspections based on the results we find. I will make sure you meet all contractual deadlines and duties and ensure you have completed the due diligence satisfactorily. The time period between the signing of the Agreement of Sale and settlement is typically 3 to 6 weeks, but can be longer of both parties agree.
Step 6: Settlement and Moving In!
Once the lender receives all the documents required, the loan process will begin and will include and appraisal. The Title Company will research the Title history, the Title will be finalized, clear of any clouds, defects or other concerns. The lender will provide a Mortgage Commitment. And you will arrange for a mover and to turn on all utilities on the date of settlement.
If all goes smoothly, in the final week before settlement, the lender will order the final documents to be sent to the Settlement Officer. On the day of settlement, we will do a final walk through to examine the property to make sure it is all in order. At the closing, both Buyer and Seller will sign all the documents, funding will occur and you will get your keys. The final documents are recorded at the County Courthouse in days following the closing and you will receive your signed Deed in the mail.