Buying Information

 Qualify

This is a crucial step of the process, especially in today's market. Many buyers leave this step until later in the process.  However, doing so often results in uncertainty in the negotiation process and ultimately in less satisfied buyers.  By having a lender pre-qualify the buyer prior to looking at homes, it enables the buyer to understand exactly how much they are comfortable spending and not waste time looking at homes above their comfort level. 

 Choose

Choosing the right property is generally is the most time consuming. It's important to consider not just the individual properties, but also their neighborhoods.  You can always renovate a kitchen or bathroom that you're not happy with, but you won't be able to change a neighborhood.  The neighborhood will also affect price - so buyers need to decide what their level of compromise might be between the neighborhood and the home itself.  Buyers should ensure they look at enough properties to understand the local market. Once you've seen enough properties, you'll start to get a feel for what your money will buy in a particular area.   

The internet is the best place to start getting a feel for the market.  But once you are ready to start seeing properties, a real estate professional will be able to assist you through this step of the process efficiently.

 Negotiate

Once you've decided on a property, it's time to start negotiating with the Seller.  This starts with an OFFER made by the Buyer.  Most times the Seller makes a COUNTER-OFFER back to the Buyer.   It's not uncommon to go back and forth with counter offers until agreement is reached or a decision is made that agreement is not possible. 

It's important to remember that there is more to negotiate than just the price of the property.  It's vital to include appropriate contingencies that  protect the Buyer's rights.  Some of these contingencies include the right to have the home inspected, the right of review of homeowners' association documents, and above all, the right of the return of the escrow deposit to the Buyer should certain contingencies fail.  Your real estate professional can assist you in determining the right contingencies for your individual circumstances.

 Confirm

Once an agreed Contract is in place, it's essential for the Buyer to verify what has been agreed.  This generally includes inspections of the property to confirm that there aren't defects such as a leaking roof.  It also will include a bank appraisal to confirm that the value of the property supports the purchase price, and many other items such as title and lien searchs to assure that the property is free of encumbrances. 

These items are all completed by various professionals, however, your real estate professional can coordinate these items and assure that no key steps are overlooked.

 Close

The closing can be executed by either a title company or an attorney.  A wise buyer makes the decision who to engage for the closing early on in the process, generally at the start of the negotiation process.  

Short Sales

Foreclosed Properties

$8,000 Tax Credit