Buying Process

           Buying Process                 Making an Offer

Beginnings.

As your realtor, I will help you choose the home that satisfies your needs, desires and fits into your budget. As your Buyer's Agent, I can show you any home that is on the market through the Multiple Listing Service (MLS) in our area. I will help you qualify for a loan, write the contract for your new home and provide you with numerous other services.

In the beginning, we will discuss some basic questions about your finances in order to help you determine the size loan for which you may qualify and the price range of the home you can purchase. We will discuss your preferences in a home, such as the number of bedrooms and bathrooms, size of yard, etc. This will help me narrow down the number of houses you may be interested in and prevent you from wasting vast amounts of your time.

The Search.

After we decide what kind of home you want, in order to eliminate wasting your time, I will do an enormous amount of work for you that you will never see. I will sort through all the houses on the market to find the ones you that meet your specifications, print and mail spec sheets for you to evaluate, and make appointments for you to see them. Once the appointments are made we will tour those properties so you can find the one just right for you.

The Contract.

Once you have found the house of your dreams I will help you write a purchase contract. This is your offer to the seller to purchase the house. After writing an offer, I will present your contract to the listing agent and seller as soon as a meeting can be arranged. In many cases, the seller will counter our offer by changing some terms.

When this happens, we will discuss the counter offer and if you like we can make another offer. Most contracts do not go back and forth too many times before being acceptable to both purchaser and seller. Once the seller accepts your contract as it is written we will have a ratified contract.

Loan Process.

Next, I will help you apply for your loan. One of the most important people you will meet during this process will be your loan officer. This is the person who will take your loan application and work to get your loan approved. However, keep in mind that by this time we will have you pre-approved for the loan and it will only be a matter of completing the proper paperwork.

As you look for a lender, it will not only be important to look at rates and terms, but at the lender's reputation. I will help by recommending a loan officer with whom I have had successful transactions.

Termite Inspection.

After you have made your loan application, we will need to contract a pest inspection of the property for termites. This should be done no earlier than 60 days nor later than 15 days before settlement. You probably will never meet the inspector, but we will receive a copy of the inspection report at or before settlement.

Settlement.

Settlement is the time when the money and deed are exchanged through the settlement attorney. The attorney will coordinate the settlement by gathering all the necessary information from you, the seller, and the lender. The attorney will assure: compliance with the loan terms provided by your lender, that all the lender's documents are properly signed, that the seller's loan on the property will be paid off and released, and that the deed transferring the property to you is in proper form. The original deed is sent to the courthouse for recording and later delivered to you. Upon completion of settlement you will be the owner of the property!!!

Why have a buyer's agent?

A buyer's agent will represent you and your interests in the purchase of your home. This is different from a listing agent transaction where the buyer is not technically represented.

As your buyer's agent I will always act in your best interest and help you move efficiently through the buying process.

Who Pays the Commission?

The Seller Does

The Seller has generally signed a listing agreement with his agent specifying a certain fee to be paid, and many times it has provisions for splitting that fee with the agent who sells the property.
 

THE OFFER PROCEDURE.

1. The agent representing the buyer presents the offer to you. I will be present to ask, as well as answer, questions for you.

2. After the buyer's agent has answered all of our questions, we     will privately review the offer and make a decision to accept, or counter the offer.

3. Items to pay special attention to:

• What is the length of time for loan approval?
• Time frames on all inspections, termite, home inspections, and all disclosures.
• Are there limits of liability on all repair work?
• Who is paying for all repairs?
• The length of the contract. The "under contract" period and estimated closing date.
• Are their any contingencies? How will they effect you?