| Buyer
Roadmap
1. Deciding to Buy
Homeownership has many personal and
financial benefits. Purchasing a home can seem a daunting
experience to many homebuyers without the appropriate
counseling. While the process can sometimes be complex,
it does not need to be expensive or cumbersome. We provide
you with essential home buying guidance and manage the
process leading to a successful settlement. We recommend
launching your search with the following considerations:
- The advantages of owning versus renting
- Need to be closer to work, recreation,
schools or nightlife?
- Need more space? Or less?
2. Obtaining a Pre-approval Letter
from a Reputable Lender
It is crucial to obtain a pre-approval
or loan commitment early in the process so that I can
position your search according to your loan qualification.
When making an offer on a home, the listing agent will
expect a pre-approval letter from a reputable lender as
confirmation that you can afford the home based on your
financial position.
3. Establishing Search Criteria
Consider some of the following as a
starting point to your search:
- Price range and monthly mortgage
payment
- Location
- Number of bedrooms, baths, and other
amenities
- Fee simple home, condominium, or
cooperative
- Pets
- Parking and transportation considerations
- Schools
4. Finding Your New Home
This is the part clients anticipate
the most – touring properties. I tour hundreds of
homes each year and will be able to offer quick insights
about available inventory. Equipped with your lender pre-approval
and the knowledge gained from our initial buyer consultation
we’ll collectively target our approach to finding
that perfect place.
5. Making an Offer, Negotiation, and
Contract Ratification
At this juncture, you’ve identified
a property and would like to submit an offer. Our approach
to the contract may change depending on variables such
as price, comparable sales, disclosures, days on market,
and other factors. Once the buyer and seller agree on
the written terms of the offer you’re officially
“under contract.”
6. Removing Contingencies
Contingencies provide the purchaser
with the ability to conduct inspections, obtain financing
and appraisal, and ensure clear title. Contingencies essentially
allow you to learn more detailed information about the
property. Each contingency has a specific timeframe to
fulfill the required task. At successful completion, the
buyer and seller move closer to settlement. Contingencies
may include all or some of the following: home inspection,
termite inspection, loan approval, and appraisal.
7. Arriving at Settlement
The contingencies are fulfilled, the
title is clear, and your loan is ready for settlement—you’re
almost there! As you begin to plan your move we can assist
in providing recommendations and referrals.
You are now a property owner. Congratulations!
Now it's time to get ready to
move. See the Moving
Checklist.
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