BUYER RESOURCES

Buying a home is probably the largest purchase you will make in your lifetime. I take complete pride in educating you so that you know the market, how the home buying process works, and how to submit a competitive offer in this current market.

There are many reasons people decide they want to buy a home Having a clear sense of your reasons for buying will help you choose the right property. For example, are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? If your income has grown, buying real estate is an excellent investment and it is one of the least risky ways to build equity or to obtain a greater return on your initial investment.

Buying a property requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. I can guide you through this process, and also provide you with access to property listings before they hit the general market.

Here is a brief overview of what my services include:

I will keep you up to date on the market trends and I will monitor new inventory on the Multiple Listing Service (MLS) which could include For Sale by Owners (FSBO) and provide timely notice for properties that meet your criteria. We will coordinate our schedules and set up times to tour properties, and I provide Facetime video and other real time video options for out of area buyers to view homes and make home purchases. Upon your request I will research single property data and provide a high level overview of market trends, history, demographics, as well as discuss basic property anatomy (age, size, condition, land topography, septic/sewer, well/public water, etc.), community features and any additional pertinent data readily available.

When it comes to writing and submitting contracts, I will make recommendations for structuring your offer and we will discuss Purchase Price, Financial Terms, Contingency Deadlines, Earnest Money, Closing & Possession Date, Offer Expiration, etc. It is important that the quality of the Purchase and Sales Agreement (PSA) shine through. Along with writing your offer for you, I will also explain the details within the contract and what that necessitates. Finally, I coordinate and take care of all transaction details so you can sit back, relax and get a home knowing confidently that everything is under control.

My expertise shines during the negotiation stage of the transaction. I have your best interest in mind – every time. My obligation to you is to represent and protect your financial interest in your Real Estate Transaction.

Get Pre-Approved by a Lender

It is in your best interest to get pre-approved for a loan before beginning your home search. Knowing your pre-approved amount is the most important step to finding the types of home you are qualified to purchase. Most sellers want to see that you are serious and have the funds to purchase their property.

Consult with your real estate agent

I will be your chief advocate, confidante and hand-holder throughout the entire process. This is our opportunity to get to know each other and for me to see how I can best meet your needs in your home buying journey, as well as find out what you want in a home.

Get informed about the Current Market

We will discuss the current market and what it takes to submit a competitive offer.

Be Careful with your finances

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.

Know the costs associated with purchasing a home

• Down Payment: Your loan type may require funds for a down payment on a home loan.

• Earnest Money Deposit (EMD): When buying a home, you need to show the sellers you are serious about your purchase, and you do that through the offer and delivery of EMD. The amount is negotiable between the buyer and seller. Typically, the larger the EMD the stronger the offer.

• Home Inspection: You’ll want to hire a Professional Home Inspector to assist you with making sure that you know what you are purchasing. The average cost for a home inspection is between $400-$600+ depending on the size and location of the home.

• Septic/Sewer Inspection & Scope: I recommend having the septic/sewer lines scoped to verify that all is in working order. The average cost of this inspection ranges between $400-$600+ depending on the size of the home and access to the lines. I recommend contacting an inspector for pricing.

• Closing Costs: Closing costs are paid at closing and include, but are not limited to Lender Fees, Title Fees, Escrow Fees, Recording Fees, 1st Month’s Prorated Mortgage Interest, Appraisal & Prorated Taxes. Closing costs typically range from 2.5-3%.

• Moving Expenses: Truck Rental, Movers, Storage unit, Boxes, and Food and Drinks for all of your friends for helping out.

• Appraisal Fees: Appraisal fees will be dependant on your Individual lender

Let the serious shopping begin!

Get to know the neighborhoods, complexes, or subdivisions, which interest you. Drive around and get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas. I will set up a search based on your criteria of wants and needs and send you links to properties as they come available on the open market through the Northwest Multiple Listing Service (NWMLS). I will also monitor For Sale by Owner (FSBO) properties and will use Broker relationships to help find your desired home.

Select a few properties that interest you and I will arrange for appointments to visit them in-person or virtually, whichever you prefer.

Once you find the home that you love we will work together to craft an offer that the sellers will not be able to resist, giving you the advantage over other offers.

My expertise shines during the negotiation stage of the transaction. I have your best interest in mind – every time. My obligation to you is to represent and protect your financial interest in your Real Estate Transaction and facilitate the details so you can relax knowing everything is under control.

title insurance

When you go to buy a home, part of your closing costs pays for what is called title insurance. In very simple terms, title insurance makes sure that the title for the property is free and clear and that the home is all yours. When you buy a home, you want to make sure you are the only owner of that home. That way, if six months after you close on the purchase of your home someone knocks on your door and says they were given a percent of interest on the property by a family member, you can call up your title company. The title company will then be responsible for paying that owed money, or they can dispute it if the claim made is false.

I will request Title and review all disclosures with you. This includes tracking and obtaining title commitment, reviewing title and identifying various aspects of public record that should be investigated further.

escrow

Right before closing, the escrow company prepares an estimated settlement statement, which is simply an excel spreadsheet that shows all the debits and credits on both the seller and buyer sides. It gives a sum total of how much the buyer owes and a statement of how much the seller will receive when the transaction closes. In addition to handling all of the money, escrow prepares all of the documents for the buyer and seller to sign during the final days of closing.

HOME INSPECTION DAY

If you requested an Inspection in your offer, this is the big day. Your home inspector will look for any unseen defects in the home and inform you of what you need to know about the home and the property. Next, we will read over the inspection report to decide if and/or what items you will negotiate for the seller to repair.

Depending on the outcome of these inspections, one of two things may happen:

1. Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the close, or

2. The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).

I am happy to make recommendations for inspectors and work with you on scheduling. I will also provide insight around inspection findings to navigate the response process as described within the PSA.

APPRAISAL AND LENDING

An appraiser assesses the home you are purchasing to make sure that it is valued at the purchase price and to identify any repairs required by your home lender. In the chance of a low appraisal, I will work with the selling agent and the owners to get us to a mutual agreement and on to closing.

Be Prepared

I will provide a list of useful numbers for the activation of home services and utilities after the closing occurs.

I am ready to assist you should an unforeseen glitch pop up, even at this last stage. Something at the property breaks down, or some other minor detail – no need to worry. I have encountered these problems before and know how to handle them efficiently and in a stress-free manor.

Closing

The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. You and the seller(s) will sign this statement, as well as the closing agent, certifying its accuracy. If you are obtaining financing, you will have to sign all pertinent documentation required by the lending institution. If you are unable to attend the scheduled closing, arrangements can be made depending on the circumstances and the notice that we receive. If you are bringing funds to the transaction, you can elect to either have the funds wired electronically into the closing agent’s escrow account, or bring a certified bank check to the closing in the amount specified on the settlement statement.

Between me and the sellers representative, we will arrange to have all property keys and any other important information delivered to you as soon as the transaction is recorded.