The Buying Process has many complex steps. You need a strong advocate to help you navigate through. We provide that attention to detail and added care along the way that you will come to expect when working with us. Although each of our client’s and their set of needs is unique, below are some of the more general steps in the homebuying process:
During our initial consultation, we will discuss your wants and needs for a new property. We will want to learn about any previous buying experiences and what worked and did not work for you so we can be prepared to meet your expectations. We have many questions that we will go over to pinpoint the type of property you are looking for.
We will also discuss mortgage prequalification during our initial consultation call. In a market that is moving quickly with a lot of buyers and not a lot of homes for sale, it is important to be completely prepared and prequalified before your home search begins. If you haven’t talked to a lender yet, we would be happy to give you the names of several skilled lenders who we have worked with in the past. We try to match buyers with a lender that will fit their particular set of needs.
Searching for Your Home
If we have narrowed down your search to a few key neighborhoods or areas, we will gather additional information on those areas, so we get a sense of the market there and build a strategy. We will look at what recently sold, what is currently under contract as well as properties that are still available. We will make a plan to view these properties. We will also set us both up with automatic searches that will alert us when new properties come on the market that meet your needs. We review each listing that is sent. We will determine if any of the new listings are worth seeing in-person, then we will make a plan to visit. In addition to finding properties on the MLS, our networking and research skills sometimes produce a property that is not yet on the market or was on the market and expired. This is a highly coveted skill in a market with little inventory.
As we are viewing properties, we like to check in with you to see how close the home comes to meeting your needs. A 100% match can be very difficult to find, but there should be several options that come close. We will also take a look at the properties with a scrutinizing eye, looking for potential defects or problems with the home so those can be taken into consideration when determining price and offer.
Determining Price and Writing the Offer
When we have found the right property to put an offer on, first we will do a market analysis and together we will review the comparable listings. We will guide you through finding the market price for the property and we can determine how to make an offer from there.
Presenting the Offer
Whenever possible, we present the offer in-person. This allows me to build rapport with the listing agent and learn about the issues that are of greatest concern to the seller. We may ask you to come along and wait in the car so we can negotiate on the fly and hopefully get the offer accepted. If an in-person presentation is not possible, we will compose a detailed email and include the offer along with the preapproval to show how strong of a buyer we have.
Once the offer is accepted, we will get an inspection scheduled. If the property is waterfront or on a bluff, we have a variety of inspectors who are also structural engineers who can evaluate the home site. Once the inspection is complete, we work with the buyer to determine what needs to be fixed by the sellers or what financial compensation expected and go from there.
When the appraisal is ordered by the bank, we will meet with the appraiser and will prepare a market analysis. We like to build a working relationship with the appraiser so we can exchange information and work together to find a market value for your home.
We will coordinate between escrow, title and the lender to make sure all the deadlines have been met. We will review the title report and point out any red flags. We will also review the Closing Disclosure documents with you to answer your questions prior to closing.