STEPS IN PURCHASING A HOME
Your Home-buying needs are one of a kind. Using the unmatched resources of Coldwell Banker, I will develop a custom plan to:
- Provide you with proven, powerful and personal service
- Help you find the right home and negotiate the best possible price and terms for it
- Close the sale in a smooth, timely manner
We are committed to your complete satisfaction, and will represent your interests with the utmost care, honesty, integrity, and discretion. Lets get started!
YOUR SEARCH BEGINS
Buying a home is one of life’s biggest investments and most exciting adventures. I will be your partner in the process, guiding you along the way to make your experience smooth and successful.
- The Purchasing Process
- The Power of Pre-Approval
- Your Home Search
- Full-Service Support
YOUR PARTNER IN THE PROCESS
I will be by your side every step of the way, giving you the insights and information you need to have confidence in your decision.
- Meet with you to discuss your needs and goals, and to have plan your property search
- Help you get pre-approved and establish your budget
- Show you properties that meet your criteria
- Keep you informed of new properties that come on the market
- Work with you until you find the right home
- Help you determine your offer
- Negotiate the offer and contract in your best interest
- Facilitate the home inspection and resolution
- Prepare you for closing and the associated costs
- Keep you updated on the progress of your transaction every step of the way
THE POWER OF PRE-APPROVAL
WHY PRE-APPROVAL MATTERS
The first step in any home search is finding out exactly how much home you can afford and deciding the financing to make the purchase. While you can get a rough estimate through prequalification, taking the extra step to obtain pre-approval will give you some added advantages.
Pre-approval helps you:
- Understand your financial condition
- Know exactly how much home you can afford before you begin your home search
- Strengthen your purchasing power when making an offer
When you find the home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you’re serious and fully prepared to buy their home, putting you in a stronger position than other potential buyers.
THE PRE-APPROVAL PROCESS
Here are some of the current documents you’ll need to provide your lender to get your pre-approval started
YOUR HOME SEARCH
The first step on your home search? My website. Not only is it an easy way to check out all the available properties in your preferred area, it’s also another way for me to get to know the types of properties that you like. Simply register on the site, and I will receive updates about your activity. Plus, you can save your search for future access, save and share homes you like, and sign up to receive email alerts when new homes that match your criteria come on the market.
DISCUSSING HOME PREFERENCES
Discussing the type of home you want, the features in your new home that you must have, and ideally like to have.
We will attend open houses on the weekends and any days that are necessary to find the home of your dreams!
MAKING AN OFFER
There are many factors that influence the market value of a home. I will give you the insight and information you need to make an offer you’re comfortable with. Some of the factors to consider include:
- How long the home has been on the market
- If the price has been reduced
- How much the home is worth – I will provide a comparable market analysis (CMA) showing the list and sale prices for similar homes in your area
- If there are multiple offers
- Other items that might be included in the sale (furniture, hot tub, etc.)
- The “list to sale price ratio,” an indication of how competitive the market is for homes in the area
- Why the seller is selling
- Whether the seller is offering an assumable loan or financing.
Once the offer is written, your agent will present it to the seller’s agent. At that point the seller can accept your offer, reject it or counter it to start the negotiation process. I will work with you to plan a strategy to ensure the most advantageous terms and acceptable pricing for you and your budget.
NAVIGATING THE FINANCING PROCESS
Once your offer is accepted, the financing process continues – and already being pre-approved makes this process so much quicker and smoother. While it can take anywhere from 30- 60 days, it typically runs 45 days. I’ll be involved throughout the process to help it run smoothly. The basic timeline for what will happen along the way is as follows:
- You’ll submit the completed application and any required supporting documentation to the lender (when you are pre-approved, this is already done)
- The lender orders an appraisal of the property, a credit report and begins verifying your employment and assets
- The lender provides a full faith estimate of closing and related costs, plus initial Truth in Lending disclosures
- The lender evaluates the loan packages with all of your supporting documents, issues a letter of commitment, loan approval and list of conditions, if any
- You sign the closing loan documents and the loan is funded
- The lender sends its funds to escrow
- All appropriate documents are recorded at the County Recorder’s Office, the seller is paid and the title to the home is yours
CLOSING YOUR HOME – ESCROW PERIOD
- Home Inspection
- Title Search
- Wood Destroying Pest and Organism (Termite) Inspection
- Final Walk-through