The Buying Process
First meetingWe need to get to know each other so we can mutually decide to work together. We learn what your ideal home looks like, your deal breakers, and your must haves. This meeting is a brainstorm. Before we break, we will provide you with some reading material. Disclosures, agency agreement, a blank purchase and sale agreement, and other forms that you will have time to familiarize yourself with. If you have questions about any of it, you can reach out to us at any time.
FinancialsDo you need a lender? It’s time to apply and get pre-approved. It is very important to have a well-qualified local mortgage broker. You want a lender who handles all phases of the loan process in one office. The good ones respond quickly, communicate clearly, and help guarantee a timely close. The last thing you need is for ‘Mr. Big Bank’ sending your paperwork across the state line for underwriting. We have suggestions for lenders to work with and you are free to shop around.
The Hunt BeginsAfter our first meeting, we got to work combing the market to get a handle on the part of the market that suits your preferences. At this point we have cast a wide net. We’ll meet, look at a bunch of listings online, and narrow it down to a manageable tour. It is a 2–4-hour (depending on your schedule) fun day. There will be some cream puffs, some ‘maybes’ and a few you may never have considered but may work out. At the end of the day, we will have a much clearer understanding of what the right home will be for you. Sometimes people find the home they want right away. If not, we will continue to send you listings and be there to let you tour until the house you want to make your home finds you.
Making an offerThis is where the rubber hits the road. At our first meeting we gave you some reading material. Now it is time to fill in the blanks. We will do a market analysis for the property you want to offer on so you have a better idea of what a competitive offer will look like. We will go over the contract with you, determine and define all contingencies and addenda. You will be clear about your obligations and prepared for possible outcomes. With the offer you will provide up to 5% of the purchase price to be held in escrow. This money is included in the purchase price or will be returned to you if the contract is legally terminated.
Win WinAfter a successful negotiation (that may include some potentially stressful back and forth, we do our best to make it as stress free as possible) all parties sign and we have Mutual Acceptance. We will then provide you with a timeline to keep track of all your actions, obligations, and deadlines necessary to execute the contract. We will be there every step of the way.
InspectionA home inspection is always recommended. You will hire a professional home inspector to confirm the condition of the home. We will provide referrals for this process. Everything from the foundation to the dishwasher will be scrutinized. You will receive a detailed report highlighting all potential issues and their severity. The result of the inspection may or may not initiate another negotiation. At any time during the inspection contingency, you may terminate the contract and have your earnest money returned. Pre-inspections happen before you make the offer. Pre-inspections are often necessary in a highly competitive situation.
Escrow - ClosingAfter mutual acceptance, we will work in conjunction with a third-party escrow officer to ensure the transaction is managed to meet all deadlines. After inspection, your next step will be to focus on the various conditions your lender may have given you to complete your application for final funding. Once all loan documents have been sent to escrow, you will meet with the escrow officer about 2-3 days before closing day to sign the documents. On closing day, once we have received word that the documents have recorded, we can hand over your new keys!
When all is said and doneWe continue to be here for you. We know moving can be a complicated process. Do you need movers, contractors, a property manager, or cleaners? We will do everything we can to make the transition as smooth as possible. AND, for as long as you own your new home, we will help you keep track of the value of your investment.