Buyers Information
Buying a home is a great investment and can be the most exciting time in one's life. It is my goal when working with buyers to make sure that they fully understand the process and what to expect so that the transaction is as enjoyable as it should be. When you purchase a home through me it is my job to take care of all the little details that might snag an otherwise perfect transaction. I will take the stress out of buying a home so that all you have to do is work on your guest list for your house warming party.
On the rest of this page you will find a summarized version of my buyer's packet. For a full version please contact me and I will get you a copy.
One of the first choices you will be presented with will be whether to have the real estate agent work for you (Buyer Agency) or to have the real estate agent work for the seller(Seller's Agent), the laws that govern agency disclosures are in the process of being rewritten and some of this will change in the summer of '06. Buyer agency requires a signed contract with the real estate agent whereas working with the seller's agent just requires you to sign a disclosure form; which basically says that the real estate agent is working in the best interests of the seller. You may be wondering why you would not want the real estate agent to be working in your best interests and the best answer to that is that some buyers do not want to be limited to working with just one agent, but there are many positives and almost no negatives to working with just one agent (see section below on "why work with one agent") and for that reason buyer agency is becoming more and more popular. For a full explination of agency please visit the page titled "Understanding Agency" it should be located in the toolbar to the left.
Buyer Need's Analysis
It is very important that I know what you expect from me as well as the process and the outcome. The information I gather helps me better serve you and in turn accomplish your goals. Prior to even searching for properties we would go over the questons of the need's analysis so that I can focus our efforts in the right direction.
Purchasing Power
It is very helpful to know what your purchasing power is prior to selecting homes to view. It can be very frustrating if you fall in love with a home that is out of your range, conversely, it can be just as frustrating to look at homes under your price and never find what you are looking for. Having talked to a bank and being pre-approved can be a very useful tool when it come to presenting offers as well.
There are many different types of financing out there, make sure that you talk to severl lenders before deciding which one to go with. If you are having troubles with lenders, feel free to ask me for suggestions. I have established contacts at many banks and mortgage companies and in many cases I can put you in touch with the perfect person.
When working with lenders the terms pre-approval and pre-qualification will come up, what is the difference?
Pre-qualification - A lender can usually pre-qualify you for a mortgage in a short 15-20 minute phone call or sit down. By getting pre-qualified for a mortgage, you will have an idea of the estimated monthly payment and a price range in which to shop based on the loan size. This information is a guide for you in the home buying process and does guarantee mortgage approval.
Pre-approval - Being pre-approved for a mortgage may afford you more leverage in negotiating the purchase of a home. Mortgage pre-approval requires completing a formal application to the lender and the submission of all necessary financial and employment documentation. This information will be throroughly evaluated and verified by the lender's underwriters. With final approval you will be cleared for a loan of a determined amount. If you would like a list of the documents you need for pre approval please contact myself through the "contact me" page or contact your lender.
The Home Buying Process
Once you are ready to begin looking for homes things begin to move very quickly. That is what I am here for, I slow down the process and explain all of the steps very thoroughly. I will try to explain a few of the steps here so that once we begin looking for properties some of the steps sound familiar. Re/max Realty Associates is a member of the MLS, the MLS provides a database of all the listed properties in the area. The nice part about the MLS is that the database is searchable and can be customized so that you do not have to weed through hundreds of listings in a magazine to find the few that meet your criteria.
The first step is to search for all of the homes that meet your general criteria. At that point I usually send you all of the results rather than eliminating some on my own, that way you don't miss out on anything. Unlike some agents I will give you information on all homes available, not just those that myself or my company have listed. If you would like I can choose which homes to look at and which to skip, but I would much rather have you make that decision. Once we have selected homes to view we need to decide how many you would like to look at at a time. It is possible to go through many homes in one day, but keep in mind that after 5 or 6 they all start to look similar and by the end of the day you may not be able to remember exactly which home had what. Once we have selected properties and showing times I need to call the listing office and schedule the showings, unless the home is vacant most sellers like to have 24hrs notice. When we go out to look at homes I will provide you with an information sheet on each home so that you have a record of what we saw and the amenities that each home had.
Writing an Offer
Once you have found that perfect home it is time to write an offer. Writing an offer is a fairly simple process and should only take around a half an hour. As simple as the process is, it is important that we take our time and go over every part of the offer so that you know what is in the offer and are comfortable with what we are submitting. For complete information on writing an offer contact me for a full copy of my buyer packet.
Negotiation Assistance and Counseling
Depending on which agency option you choose, changes how we handle the particulars of the offer as well as the negotiation of the contract through counter offers, amendments, and notices. I will work with you throughout the negotiation process so that in the end we accomplish your goal.
Contract and Contingency Management
My number one priority is to accomplish your goals, my second priority is to do that with as little stress as possible for you. It is my job to stay on top of all the important dates, deadlines, tests, etc... to make sure that nothing is overlooked and that the deal goes as smoothly as possible. I will work with all the appropriate parties, ie. lenders, inspectors, and contractors to make sure that everything that should be being done is and I will constantly be in communication with you letting you know where we are at with the process.
Closing
I will attend the closing with you to make sure that everything goes as smooth at the end as it did through the entire process. Although if I have done my job, closing is a rather easy process, although your hand may be sore with all of the documents you will need to sign for your lender. I will also work with you beyond the close of your home to make sure that you are completely satisfies with your home and my services.
If everything I have gone over so far is not enough to convince you to work with me as your real estate agent, here are several reasons that working with just one agent is benificial
I understand that committing to one agent can be intimidating, many people view it as taking the next step in the home buying process, a step they may not feel they are ready to take. But don't look at it that way, look at an agent as a way to prepare yourself for when you are ready to take that next step. Working with an agent can be very beneficial for you, here are a few ways that selecting one agent for the entire process can be helpful:
Selecting one agent does not limit the homes that you can look at. I have access to every home that is listed in the MLS, so if there is a home you are interested in any my name is not on the sign, give me a call and I can set up a showing.
By working with just one agent you are able to establish a relationship with that agent. They get to know you and your family as well as what type of home you are looking for an the amenities you find attracticve, that way if that home comes on the market you are the first person I think of.
When you are looking at homes and possibly writing an offer you want your agent to be completely committed to your needs. It is much easier for that agent to be committed to you if they know that you will work with them through the entire process.
When you work with one agent through the entire process, they have been through every home that you have, so they are able to give input on the homes you have seen when you are sitting down and comparing homes, as well as reminding you of information you may have forgotten after going through several homes.
To request a copy of my complete Buyer's Packet please fill out the form below
