| Purchasing a home is probably the largest financial investment you will ever make and the complexities involved in the transaction can be daunting unless you have a professional Realtor® behind you. Working with a real estate agent is a must to assist you in identifying communities, neighborhoods and properties you desire, to guide you through the myriad of details and paperwork involved in buying a home today and to negotiate on your behalf and represent your interests during the home buying process. Getting Started
Almost 80% of all home searches today begin on the Internet. With just a few clicks of the mouse, home buyers can search through hundreds of online listings, view virtual tours, and sort through dozens of photographs and aerial shots of neighborhoods and homes. You also might want to begin by viewing properties at open houses to get a feel for what properties are available in your desired areas and price ranges. By this time, you have probably defined your wants, needs and desires and have a pretty good idea of the type of home and neighborhood you want.
Determine Your Price Range & Get Pre-Qualified
Now is the time to begin speaking with mortgage lenders (you’re real estate agent can probably recommend several). You want to compare what loan programs each lender has to offer, what the associated fees are for each program and what interest rates they can provide. Each lender you speak with should give you a detailed breakdown of closing costs and an estimate of your monthly payment. Once you have selected a lender ask them to provide you with a pre-qualification letter that your Realtor® will submit along with your purchase offer.
Preview Potential Homes
Viewing properties online can get your started in your search, but you will need to physically tour many different homes before you find “your dream home”. As your buyer’s agent, I will run searches for you several times each day and preview properties that appear to meet your criteria. It is often difficult to fully understand the features, benefits and potential shortfalls of a property solely based on Internet descriptions and photos. You will save a lot of time and frustration by having your agent preview homes for you and only show you the “best of the best” when you meet to tour homes.
Write the Offer Once you locate your dream home I will help you through the offer process and give you my advice as your buyer’s agent. A purchase offer is comprised of several key items: - Sales Price
- Settlement Date
- Earnest Money Deposit
- Inspection Contingencies
- Financing & Appraisal Contingencies
No aspect of the home buying process is more complex or personal than writing a purchase offer and the ensuing negotiations between the buyers' and sellers' agents. The value of using an experienced Realtor® during this part of the process cannot be underestimated. I will negotiate aggressively on your behalf and have the knowledge of local home values and trends which may positively influence the deal. The Home Inspection
A home inspection is an evaluation of a home’s condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will: - Evaluate the physical condition: the structure, construction and mechanical systems.
- Identify items that should be repaired or replaced.
- Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.
After the inspection is complete, you will receive a written report of the findings from the home inspector detailing the condition of the home. At this point, you have a good understanding of the positive and negative aspects of the home’s condition and can decide whether to proceed with the sale or not.
The Road to Settlement
Congratulations! The home inspection is behind you and you’ve decided to proceed with the sale. Typically, it takes 30 days or longer from the time you write an offer until you go to settlement. During this time you, the buyer, should work closely with your agent to understand the deadlines and requirements by all parties involved. An appraisal will need to be ordered, your lender will require a lot of information from you during the loan application and approval process, you will need to purchase homeowner’s insurance and the title company will require information from you. Having an agent to prepare a time line for you, keep an open line of communication with the lender and title company and ensure all details are taken care of is imperative to a smooth settlement day!
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| Tom Hanson |
| #1 Northgate
Realty Agent |
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