BUYERS
I have lived in everything from a studio in the city in my twenties to a luxury home in a gated community. I can assist with residential homes, new construction, condos and vacant land. If the subject matter is outside my area of expertise or a different market (out of state or a long drive), I will provide high quality agents to interview. My guiding principe is that I serve my clients the way I want to be treated. Hire someone who focuses on the Quality of business, not Quantity.
CASH OR FINANCE
Define your budget range. Consider total costs of owning a home beyond the purchase price. This includes maintenance, taxes, HOA and condo fees. It stands to reason that an older home will require more maintenance over time.
If you are paying cash, be prepared to provide proof of funds - a recent bank or investment account statement is usually sufficient.
If you will be financing the purchase your home, work with a lender to determine what you can afford and obtain a pre-qualification or pre-approval letter. This will give your offer credibility with sellers. Be prepared to provide income, bank and tax statements.
If you have not owned a home in the past three years, and do not have serious credit delinquencies, you may qualify for home buying assistance programs.
I know the best lending resources in the market and will help you to contact mortgage professionals who have been helpful to my past clients.
START BIG AND THEN SMALL
Location, Location! Choose your area of town, then neighborhood, then type of home. Consider your commute, school zones, proximity to restaurants and shopping, access to freeways and tollways, airport, etc. Consider if you like being near the action or prefer privacy.
I recommend driving around various neighborhoods to get a feel at different times of the day and weekdays versus weekends. Check out the amenities. Ask about HOA fees and special assessments.
IDENTIFY AND PRIORITIZE YOUR PREFERENCES
If you prioritize your preferences, your search will be quicker and more effective. Keep in mind the more selective you are, the less options you may have.
Condition of home - are you willing to do some work for a home that is priced attractively or do you need a move in ready home?
Open or segmented floor plans – with multiple family members, you may value homes with multiple sitting spaces
Total Square Feet
One story or multi-story
Bedrooms - ideal number and location of bedrooms, master upstairs or downstairs, near or away from other rooms?
Bathrooms - minimum number of full and half baths
Flooring
Bathtub, fireplace, gas
Parking or garage requirements
Views
Orientation (to sun)
Natural light desires
Pool or no pool
Yard or lot size
HOA fees
Energy efficiency
Gated community (keep in mind these may come with higher HOA fees)
If you are considering a condo, keep in mind that most condos will have a pet limitation (size, breed, # of pets, etc). Condos will also have monthly fees, which often include basic services like cable, water, exterior maintenance and insurance, etc. Contracts are usually limited to cash or conventional loan buyers. FHA loans are rarely compatible with condos.
Your must-haves or deal-killers
FIND YOUR HOME
Based on your preferences, I will send you a list of available homes in the MLS® for you to select for viewing. I will also put you on an auto email that will alert you of new market activity.
NEGOTIATE AND SIGN A CONTRACT
If you love a home, so will others. Be prepared to make an offer. Review a copy of an As Is Contract ahead of time so that you are not rushed when making an offer. Review all disclosures carefully, especially seller’s disclosure.
I will arm you with an analysis of comparable homes sold and currently available to inform your offer price. I will negotiate professionally and assertively on your behalf to secure the best deal.
Primary contract elements include: price, cash or finance, type of loan, earnest deposit, down payment, inspection period, and days to close.
Once the contract is signed, you will submit an earnest deposit. Most title companies require wire transfer of funds. Work with your bank ahead of time so that you know how this is done.
INSPECTION - APPRAISAL - LOAN APPROVAL - TITLE CLEARANCE
HOME STRETCH
Set up your Utilities - the Buyer usually starts the day after close.
Change your address with the post office and your correspondents.
Either the day before, or ideally same day as closing, do a final Walk through to ensure the home is ready for purchase.
Wire your funds a couple of days before close date to be held in escrow. Confirm that your loan officer is ready to fund the loan.
If you want to do any work to your home, start scheduling appointments. I can offer suggestions for vendors and contractors that have a good reputation in your area.
Often you will have the option to sign purchase documents remotely a few days prior or in the office.
If you are paying cash, it should be fairly quick. If you are financing, the stack of papers is substantial.
Once papers are signed and funds have been transferred, the home is all yours!