Home Buying Step-by-Step Guide

Getting Started

We will

• explain Buyer Representation and answer any initial questions you may have.
• discuss the requirements or parameters which guide your home search and set you up with our Client Collaboration site to receive home listings as soon as they hit the market.
• help you contact a lender who can assist you in becoming pre-qualified to obtain a mortgage. In our current lending environment, this step is critical to a successful home purchase process.
• view some properties on the computer either together or by email and then schedule time to tour homes for sale.
• After seeing some homes, online, in person or both, we will review your wish list and reconcile that with your budget.

Market Research & Touring

We

• search the MLS daily, and review other sources available to us, in order to prepare a list of possible properties.
• email you new listings as soon as they appear on our MLS, including “Coming Soon” listings which are not yet available to the public.
• preview listings when possible and take photos or videos if you wish.
• set up appointments for you to see selected homes.
• evaluate the condition, market history and pricing of properties which interest you.

Negotiating an Offer

Once you have identified a home you might want to make an offer on we will

• assist you in researching and learning about neighborhood data, the neighborhood association, schools, market conditions, legal and financial requirements of purchasing etc..Covering all of the factors which contribute to your final decision to make an offer on a particular home!
• review comparable sales and negotiating strategies with you so we can arrive at an offer you are comfortable with.
• consult further with the lender to determine best financing options and to obtain a pre-qualification letter for the home in question.
• write and explain the offer or “contract to purchase” to you.
• meet with the Listing Agent to present and discuss the offer.
• advise the buyer (you) of all counter-offers.
• get all signatures and initials required until we have a ratified contract.

From Contract to Closing

We will

• coordinate closing activities as required with the listing agent, service professionals. your lender, settlement agents, etc
• If applicable, obtain the Homeowner’s Association Disclosure Package.
• pick an inspector(s) and make arrangements for any inspections, which could include: general home inspection, radon, lead based paint, builder/contractor.
• share the results of the inspections with the Listing Agent, negotiating the resolution of any problems we identify.
• resolve the inspection contingencies.
• You will apply for financing and we will assist you and liaise with your lender.
• We will help you select a settlement agent and will send the contract and a summary sheet to your settlement agent.
• We’ll ensure that the Seller has fulfilled their obligations relating the Home Inspection Amendment and the statutorily required termite, well and septic inspections.
• You will call any utilities and have services put in your name as of the closing date.
• You will need to arrange for homeowner’s insurance and make a closing appointment with your settlement agent or attorney.
• You will need to pack and get ready to move!! Don’t forget to get a change of address kit from the Post Office.
• We’ll notify all parties when the loan is approved.
• We’ll notify the settlement agent that survey, title work, etc. needs to be completed.
• We will verify time and date of closing.
• We will verify that all repairs are completed and get copies of the receipts.

Countdown to Closing

• We will schedule the final walkthrough, also known as a pre-occupancy inspection.
• You need to be in contact with the settlement agent for the “final figure”. The lender provides the settlement agent with a loan package and calculates the down payment plus closing costs. Your settlement agent double checks all costs and lets you know how much in funds you need to provide above and beyond whatever amount you are mortgaging.
• You will need all funds in the form of a certified check or cash at closing, or as otherwise advised by your attorney.
• We will attend closing with you.

After Closing

• Once the payment for the home has been delivered to the Seller’s settlement agent and the deed has been recorded, you get the keys to your new property. The deed is normally recorded within 6 hours of closing but if you close late in the afternoon, this may mean you cannot obtain access to the property until the following day.
• You move!
• We will prepare an updated market analysis on your home at your request at any time during the course of your ownership.
• We are always available with professional advice or service as needed.