Buyer's Guide
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Buying Consultation
My first step is spending time getting to know you and determining your motivations and needs. I can save you a great deal of time by only showing you the properties that closely match those needs and wants.
Pre-Approval
I recommend that my buyers get pre-approved prior to beginning their home search. Knowing that you can comfortably purchase the home you are interested in reduces a great deal of stress and is more realistic.
Select Properties
Once you have described your needs and wants, I will select the properties that match best from the entire MLS. Of course, if you see a property on-line, or see a sign, let me know, I would be happy to show it to you. Here are a few things to consider when determining the type of property to view:
- Describe the type of neighborhood you’d like to live in?
- Is distance to work a factor?
- What is on your wish list?
- How many bedrooms and bathrooms are you looking for?
- Describe the style of house, both interior and exterior?
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Making an Offer
Once you have found a property that feels like home, I will assist in writing a purchase agreement.
Price
How much to offer will depend on many factors:
- How long has the property been on the market? Homes that have been on the market for a long time tend to depreciate in value.
- What is the recent activity on the home in terms of showings and offers?
- What is the urgency of the Seller?
- Is the home priced at fair market value?
- What is the overall condition of the property in relation to others in the same price range?
Although price is an important component of a purchase agreement, the seller will be more concerned about their “net” proceeds, the amount they will receive after all expenses and fees are deducted. The seller’s net proceeds can be affected by other terms, other than price, such as seller paid closing costs or negotiated inspection related repairs or concessions.
While some buyers want to make a low ball offer just to see if the seller will accept, this is many times a negotiating error because often time the seller may be insulted and not wish to negotiate at all.
Possession Date – The more flexible you are when you can move in, the more reason the seller has to prefer your offer over someone else’s.
Personal Property – Many times the seller is planning on leaving personal property in the home such as the refrigerator, range, washer, dryer, etc. However, which items stay or go is often a matter of negotiation.
Lender Information
Lenders will need the following information from you to assist you with qualifying for your loan:
- Name, address & social security #
- Address for the last 2 years
- Employment for the last 2 years
- 2 years tax returns if you are self employed
- Hourly, monthly or annual income
- 24 month average of any commissions, bonus or tip income
- 24 month average of any un-reimbursed business expenses balances in your bank accounts that will be used for your down payment