The Buyer's Guide
to a successful transaction - From finding an agent to
the closing and beyond.
to a successful transaction - From finding an agent to
the closing and beyond.
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I did my best to outline the steps involved in the process. If you
have any questions, please do not hesitate to call or write me at any
time.
Ok. First things first. The best way to start the process, in my
opinion, is to find the right agent. Of course you will probably search
online for homes by yourself but you may need someone who knows
the area, the market, the values and the homes and who can tell you
whether or not the houses you saw online are too close to a main
road or not private enough or maybe just right. Let's just say, for the
sake of this article, that this person is me.
First thing we'll do is establish a list of your wants and needs. From
our communications via email, phone or in person I will get a very
good sense of that. Questions like the kind of house you'd want, the
area and location, features, size and style are important. Another
way to approach your wants and needs is through identifying your life
style. What is it you would like to do around here? Are you into
climbing, hiking, biking, do you want to be close to a village or prefer
peace and quiet. Do you want to be close to the mountains, water, a
public park, etc. Anything you can think of we will work with to end
up with a picture of what it is you want and/or need.
After that I will begin my search and once I have identified a few
homes that reflect the criteria we have established, we'll make an
appointment for you to come up here and take a look at them. You
probably will find a couple of houses online as well and we can
discuss them and throw them into the mix.
Next, we'll take some time to look at the houses we have identified.
This is a very important part of our collaboration for this gives me the
opportunity to get your reactions on some of the houses. It also
helps you get a sense for the market, the homes available and
whether or not your picture of your perfect house fits in with your
budget. Usually, we don't find your dream house the first day.
Actually, if it happens, fine, but it is in my experience better if it
doesn't. I'd like for you to get a sense for the market and the values,
almost like an education so that once you have found the home you
like, you have a better sense for what you are buying.
Yeah!!!!! You found it! You found the home you like, you can see
yourself spending time there, you are excited over the prospect of
making an offer. At that point I will prepare a comparative market
analysis of similar homes in the area that have sold within the last 6
months to help you come up with an offer price.
Once I have presented your offer (I can present it either to the other
agent or directly to the seller) we'll start negotiating. I won't get into
the art and science of negotiating at this point but let's just say you
and the seller can eventually agree on a price and terms you can both
live with. Congratulations! Now we can take the next steps.
From here you can schedule the inspections, get an attorney and
start your mortgage application process. (If you want, I will provide
you with names and phone numbers of inspectors, lawyers and banks)
At the day of the inspection we will both be there with the inspector.
He will go over everything with you so that you not only find out any
issues with the house but also have in your hands an extensive
document for maintenance and future reference of your home.
Once you have received the inspection report we can go over it
together to determine if we need to re-negotiate on any items that
were red-flagged during the inspection.
Next you'll sign contracts with your attorney and give him your check
with the down payment. The contracts are drawn up by the seller's
attorney, then sent to your attorney for review. Once you have signed
it, it goes back to the seller's attorney for the seller's signature.
At this point, your attorney will order the title search to see if there
are any leans against the property, etc. Meanwhile you can send the
contracts to your bank so they can finalize their underwriting process.
After that, we basically wait for a closing date. A week before the
closing, you will get all the information you need to live in the house,
anything from the electric and oil company to cable/internet/phone
accounts and phone numbers so you can set up the accounts in your
name for the day of closing.
At the day of the closing, we will have a final walk through, to
determine if all the appliances still work, to check the heat, water,
etc. Basically making sure that everything is still in working order and
ready for you to move in. At the closing, you'll sign all the paperwork
for the bank and the transfer of the deed, etc. Your attorney will go
over all the numbers and papers with you so you have a good handle
on things.
Ok, happy home owner that you are, you can now move in or start
doing whatever it is you want to do with YOUR HOUSE!!!! All I
usually ask afterwards is to be invited regularly to barbecues, family
gatherings, and to be included in your will :-).
This description of the process was obviously abbreviated for
simplicity but you can rest assured that I have done this many times
over and will help and guide you through it every step of the way.
After all, buying a home should be fun as well as successful in the
end.
have any questions, please do not hesitate to call or write me at any
time.
- Find an agent you like and trust
- Together with your agent, identify your wants and needs
- Get pre-approved by a bank
- Together with your agent, identify homes that fit your criteria
- Spend a nice day with your agent looking at homes
- Find the one that's just right for you
- Establish an offering price based on your budget and your
agent's comparative market analysis. - Negotiate until you agree on price and terms
- Schedule inspections and apply for a mortgage (if applicable)
- You and your agent go to the inspection
- Your agent will negotiate issues that arose during the inspection
with the seller - Sign contracts with your attorney
- Receive your mortgage commitment
- Final walk through and closing
- Move in
- Enjoy
- Invite your agent for a barbecue
Ok. First things first. The best way to start the process, in my
opinion, is to find the right agent. Of course you will probably search
online for homes by yourself but you may need someone who knows
the area, the market, the values and the homes and who can tell you
whether or not the houses you saw online are too close to a main
road or not private enough or maybe just right. Let's just say, for the
sake of this article, that this person is me.
First thing we'll do is establish a list of your wants and needs. From
our communications via email, phone or in person I will get a very
good sense of that. Questions like the kind of house you'd want, the
area and location, features, size and style are important. Another
way to approach your wants and needs is through identifying your life
style. What is it you would like to do around here? Are you into
climbing, hiking, biking, do you want to be close to a village or prefer
peace and quiet. Do you want to be close to the mountains, water, a
public park, etc. Anything you can think of we will work with to end
up with a picture of what it is you want and/or need.
After that I will begin my search and once I have identified a few
homes that reflect the criteria we have established, we'll make an
appointment for you to come up here and take a look at them. You
probably will find a couple of houses online as well and we can
discuss them and throw them into the mix.
Next, we'll take some time to look at the houses we have identified.
This is a very important part of our collaboration for this gives me the
opportunity to get your reactions on some of the houses. It also
helps you get a sense for the market, the homes available and
whether or not your picture of your perfect house fits in with your
budget. Usually, we don't find your dream house the first day.
Actually, if it happens, fine, but it is in my experience better if it
doesn't. I'd like for you to get a sense for the market and the values,
almost like an education so that once you have found the home you
like, you have a better sense for what you are buying.
Yeah!!!!! You found it! You found the home you like, you can see
yourself spending time there, you are excited over the prospect of
making an offer. At that point I will prepare a comparative market
analysis of similar homes in the area that have sold within the last 6
months to help you come up with an offer price.
Once I have presented your offer (I can present it either to the other
agent or directly to the seller) we'll start negotiating. I won't get into
the art and science of negotiating at this point but let's just say you
and the seller can eventually agree on a price and terms you can both
live with. Congratulations! Now we can take the next steps.
From here you can schedule the inspections, get an attorney and
start your mortgage application process. (If you want, I will provide
you with names and phone numbers of inspectors, lawyers and banks)
At the day of the inspection we will both be there with the inspector.
He will go over everything with you so that you not only find out any
issues with the house but also have in your hands an extensive
document for maintenance and future reference of your home.
Once you have received the inspection report we can go over it
together to determine if we need to re-negotiate on any items that
were red-flagged during the inspection.
Next you'll sign contracts with your attorney and give him your check
with the down payment. The contracts are drawn up by the seller's
attorney, then sent to your attorney for review. Once you have signed
it, it goes back to the seller's attorney for the seller's signature.
At this point, your attorney will order the title search to see if there
are any leans against the property, etc. Meanwhile you can send the
contracts to your bank so they can finalize their underwriting process.
After that, we basically wait for a closing date. A week before the
closing, you will get all the information you need to live in the house,
anything from the electric and oil company to cable/internet/phone
accounts and phone numbers so you can set up the accounts in your
name for the day of closing.
At the day of the closing, we will have a final walk through, to
determine if all the appliances still work, to check the heat, water,
etc. Basically making sure that everything is still in working order and
ready for you to move in. At the closing, you'll sign all the paperwork
for the bank and the transfer of the deed, etc. Your attorney will go
over all the numbers and papers with you so you have a good handle
on things.
Ok, happy home owner that you are, you can now move in or start
doing whatever it is you want to do with YOUR HOUSE!!!! All I
usually ask afterwards is to be invited regularly to barbecues, family
gatherings, and to be included in your will :-).
This description of the process was obviously abbreviated for
simplicity but you can rest assured that I have done this many times
over and will help and guide you through it every step of the way.
After all, buying a home should be fun as well as successful in the
end.
