Home Buying Process
So you’ve been thinking about buying your first home and not sure where to get started. Or you’ve bought before, but made some mistakes that you don’t need to make again. My detailed approach to finding the perfect property for you, and within your budget, as well as my knowledge of the buying process, can ensure your home buying experience is smooth and pain-free.
Here are some general steps to follow to make sure you’re doing things in the right order. This can save you thousands of dollars if something unexpected were to occur:
- Get the help of a Licensed Real Estate Professional. Buying a home is something you should not attempt to do alone.
- Get Pre-approved. A pre-approved mortgage can be done for 90 days for FREE. Remember, mortgage rates and terms are negotiable!
- Prepare a down payment. When you have a down payment that is at least 25%, it is usually less expensive to arrange a first and second mortgage and save on mortgage insurance fees. If you don’t have 25%, that’s OK, just be prepared to pay for the mortgage insurance premium on top of the purchase price of your home.
- Know how much you can afford! Consider all up-front and ongoing expenses. I can help. Banks will lend you how much home you can afford, not how much living you can afford.
My process to finding your next home
Affairs are in order, you have a budget, you know what you’re looking for, now it’s time to find it. For you to be comfortable with the process, here is a generic set of steps I like to follow to ensure we find the best home possible for you and your family:
- The Initial Consultation – I will sit down with you and your family to find out what kind of home you’re looking for. There are many considerations here, including whether this is an investment property or a place for your family, whether you’re OK with paying a bit less and doing some renos, or are OK with paying a bit more for a home that’s in great condition. Size, location, the list goes on. My detailed questionairre ensures we have all the bases covered.
- The Neighborhood Visits – Given your list of potential neighborhoods you would like to explore properties in, we will take a drive (or walk) through the neighborhoods to explore ameneties, overall feel, property types, etc., so that I know where to look and exactly what kind of location you’re looking for. I can also help identify locations or neighborhoods you haven’t considered knowing what you like and don’t like!
- The Search – I have access to every property that is for sale. Worldwide. If your dream home is out there, I will find it. I’ll narrow the list down to several properties with the largest percentages of the items you’re looking for in a home.
- The Showings – After presenting the properties to you, I’ll let you decide which ones you’d like to see. I’ll take care of arranging a showing at a time that’s convenient for you. Need transportation? I can drive to and from the showings. Coming in from out of town? I can suggest hotels, ways to save on transportation and even recommend great restaurants for dinner!
- The Offer – So we found it! And you’re ready to make an offer. I will guide you through the process and be your negotiator all the way through. If I feel an offer is too low and you risk insulting the seller and losing the home altogether, I will let you know. If I think the property is overpriced, we will go in lower and negotiate. I know how real estate negotiations work and I will get you the best price for your home.
- The Acceptance – I’ll make sure all the terms and conditions are clearly defined, documented and agreed to, to avoid any surprises at closing. Congratulations, you’ve bought a home!
- Before Closing – I can provide you with inspection contacts you need and advise you on other processes that need to occur before the closing of the sale. I’ll let you know what you MUST do and what you SHOULD do so that you don’t miss a step!
- Closing – It’s possession day! You will have a final walkthrough of the house where you can ensure that the home is ready for possession. If all is good, we will sign the possession papers and hand over the keys to you? Need help with moving? I can suggest moving companies, storage facilities and more, to take some stress off you on the big day.
Although the steps above might not be unique, it’s the care and attention to detail at each phase that sets me apart from other agents. If you’ll let me, I’d love to be a part of your next HOME BUYING experience!