Step 1: Initial Consultation with agent
Schedule an in-person meeting to review what you are looking for in a new home, what your time-frame is, identify other possible contingencies to consider, etc.
Step 2: Obtain Preapproval letter from lender
As a buyer you must have a pre-approval letter to write a contract. It is recommended that you start this process before looking at properties. We can recommend lenders if you do not already have one. They will review your salary, credit and source of funds for the purchase in order to determine a loan amount before providing the pre-approval letter. This letter shows your buying power.
Step 3: Establish your home search criteria
At this time we will discuss your needs in a new home, as well as your “wish list” (i.e. open floor plan, size of yard, kitchen, man cave, etc.). Our goal is to find you the home that meets a majority of your needs, knowing there may be tradeoffs. Once the criteria is established you will receive emails with listings to review for possible viewing.
Step 4: Look at homes
This is the fun part! Once the criteria is narrowed down and you have selected homes you wish to view,we will schedule times to tour them. Some listings may require an appointment to view the property.
Step 5: Choose a home & make an offer
No aspect of the home buying process is more complex or personal than bargaining between buyers and sellers. At this point our experience is the most valuable as we know the market, may know the seller’s agent, are an objective party and have negotiated many real estate transactions. An offer consists of:
- Offer Price
- Earnest money deposit
- Settlement Date
- Financing letter
- Contingencies (financing, home inspections, repair allowance, etc.)
After submitting an offer the seller can:
- Accept the offer
- Reject the offer
- Make a counter offer
Step 6: Offer Accepted- Now what?
The contract goes to the Title company that was chosen in the offer with the earnest money deposit and:
- Home inspection is scheduled
- Work with lender to obtain all necessary financial documents
- Conduct a final walk-through of the property prior to closing to ensure the home is empty, all agreed upon repairs have be made, and to check that all systems are functional.