Buying a Home- Finding the Right Home for YouI take pride in having some of
the most real estate savvy buyers around. On this page you will
find all the information you will need to buy a home
with confidence.
1.I will help you with the pre-approval process and provide you with names of lenders that will provide this service. 2.I will work with you in finding homes on the MLS, and MAP listing services or contacting "For Sale By Owner" properties to familiarize you with the complete inventory of homes within the parameters you choose. 3.After your selection, I will preview the homes. 4.We will go view the homes together. 5.After your decision to write an offer I will show you the comparative properties in the area ( ie. Similar Sub-division homes with the same no. of bedrooms and baths, and similar style home, and what they sold for over the last six months.) 6.I will explain the entire home purchase contract to you. 7.An earnest money check will accompany the offer and will be cashed on acceptance and will be applied at the closing to the purchase price. It can be thought of as a deposit. 8.I will present the offer along with the pre-approval letter to the listing agent or seller and will begin negotiating the offer. 9.Once the offer is accepted I will have you sign the contract give you copies of the contract and deliver the contract to the listing agent with the earnest money check. 10.I will fax the contract to your attorney. 11.You
will contact a home inspector and will schedule the
inspection and I will contact the seller and the other
agent as to the time. 12.During this time the attorney will review the contract and resolve any home inspection issues. 13.Its important for you to begin application for a loan immediately! 14.I will make sure we have the mortgage approval letter by the specified date. 15.Prior to closing there will be a walk thru. This is done usually after the home is vacated to make sure that the home is in the same condition as the date of signing or that repairs have been completed. 16.I will be present at the closing to help you, your attorney andlender with any issues. 1. Make sure you have enough time to see properties to view. Sometimes we will have to work around sellers schedules. 2. Try to be on time, being late can influence the seller negatively in negotiations- it doesnt hurt to have the seller like you. 3. Wear comfortable shoes that are easy to take on and off, some properties wont allow you to wear shoes inside. 4. Treat the properties you visit, like you would want your own property treated. 5. After you have viewed a property, your feedback helps me do a better job selecting properties for you. 6. Have your checkbook with you, if I do my job right, you dont want to let a great property get away. 7. Get ready to have some fun looking at homes. 8. If you visit an open house without me, please tell the agent you are working with me or give them my card. 9. If you visit a builder or builder's model, please do not sign in. I will not be able to negotiate for you. Generally there is no charge to you if the builder has an agent involved. A mistake here could be costly. 10. Your loyalty to me, helps me put in 110% effort for you. Why is a Pre-approval Letter So Important? 1.A pre-approval letter is more reliable that a pre-qualification letter. This tells the seller that you have already been through the loan process and are just awaiting a home. Having this can save you thousands because sellers are more anxious to work with someone already approved for financing. 2.You will know how much money you can qualify to borrow and how much the payments will be based on the purchase price you choose to focus on. 3. You will have more leverage in negotiations with the seller, and you will feel less stressed when you know that financially the house you would like to purchase is available. 4.A realtor will work harder for you because it means that you are serious about buying a home. 5.Make sure not to make any major purchase prior to discussing this with the lender that has pre-approved you.
The Loan Application and What To Bring With You: 1.Contract for Purchase 2.Contract for sale of current home (if applicable) 3.Last 2 years W-2's and tax returns 4.Loan payment information (credit cards, car loans, etc.) 5.Earnest money deposit receipt or cancelled check 6.Attorney and realtor phone #'s. 7.Driver's license and social security card or number 8.Application fee 9. Cancelled checks for last 12 months rent or mortgage 10.Business tax returns Bring a one year pre-paid homeowners policy commencing on the closing date. Be sure that you have called all utilities and transferred them into your name Schedule a complete final walk-thru after home is vacant to make sure all personal property that is to remain is there and that the home is in the same condition as the date of contract signing. Bring cashiers check at closing for the balance of the funds necessary to close. (Typically, this sum is not available until the day before closing. If you would like, you can use to good faith estimate as a guideline and the title company will give you money back at the closing.) Make the check payable to yourself. Bring a driver's license or picture I.D. to closing to prove who you are. Your attorney will explain all the documents that you are signing and ensure that you receive a copy. Your attorney will make sure your deed is recorded and will send you a copy in approximately two weeks. Enjoy Your New Home! |
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