How Do I Prepare For and Purchase My Dream Home?

Finding and buying a home typically includes many of the following elements. I will be your resource and guide every step of the way.

Initial Consultation

We'll sit down together and talk.  I hope you'll have tons of questions and I'll  provide the answers. We'll determine your needs and priorities. 

I will review “agency” choices and then you will select appropriate working relationships.  You have choices and I'll explain your options.

We'll discuss your financing options.  Most importantly, it is at this point that I ask you not to do anything with your credit. Please don't open new credit accounts, don't move large sums of money, don't go out and buy that new car you've been eyeing! The lender that you choose will tell you the same thing, but more emphatically.  

Obtaining Financing

If you're financing your new home, it's time to find a mortgage company. I have loan officers in the industry whom I've had the benefit of working with.  I'll make recommendations based upon our conversation so that you'll be able to chose the best loan officer for you. Or, if you have a lender with whom you have a relationship, I'll enjoy introducing myself and establishing a great working relationship with him or her. Your lender of choice and I will work together in order to make your home purchase a smooth process.

The next stage is to consult with your chosen loan officer and get pre-approved for your loan.  You don't go to the store without your wallet, or these days, perhaps even your cell phone when you want to make a purchase.  It's the same with purchasing your home.  It takes time to get your pre-approval.  The lender will take your loan application, request at least two years of tax returns, pay stubs, bank statements, and perhaps more.  Once you've gone through this process you'll know how much purchasing power you have.  You don't have to use all that you qualify for, however, being pre-approved puts you in a positive position. You are now ready to submit an offer and have it taken seriously.

Now you get to start seriously looking for your new home!  This is the fun part!  There are many ways to search.  I will provide you with search tools that keep you up to date with current listings and their status. I will send you personalized search results.  We will go out as often as necessary until you find the home that checks all of your wants and needs boxes.  Together, we'll evaluate each property. When you are ready I'll help you craft a competitive offer.

We'll prepare an offer by reviewing the comparable sales in the immediate area while taking into consideration the current housing climate in order to determine the best offer price.  I'll help you make decisions on other terms such as inspections, processing date, personal property, etc.

I'll present your offer to the Seller.

You'll prepare the earnest money deposit if you haven't done so already.

I'll guide you through the negotiation in order to reach an agreement with the Seller, negotiate terms and possible counteroffers, reach an agreed-upon sales contract, and enter into escrow. 

With instructions from Escrow, you will schedule the deposit of earnest money into escrow.

Escrow is a disinterested third party who makes sure each party, Buyer(s) and Seller(s) act in good faith and according to the Purchase Contract.  They also oversee that title is clear, that the property in unencumbered by the time of close, and that title is transferred appropriately.  

We'll review property disclosures which will come from the Seller. 

We'll review the preliminary title report and other documents.  If there are any red flags I'll point them out and then, me and my team, will address them with the appropriate entity.

I will recommend experts who have the ability to perform full inspections: Roof, termite and any other inspections you desire and may be deemed necessary. There are lots of things you can inspect. Let's make sure, to the greatest extent that we can, that you know everything that is happening with the place you want to call home!

Escrow will ask for your selection of homeowners insurance.  You'll need to make a selection and arrange for homeowner’s insurance.  If you need recommendations for great insurance providers, we have a list of recommended providers in the area.

Remove any remaining contingencies; I'll make sure that items both parties agreed upon have been completed. I will verify all portions of the contract have been satisfied before you remove contingencies, or I will make sure you are fully informed of your situation before any contingencies are removed.

Arrange for home warranty

Once your offer is accepted, if you are financing your home, the bank will order a property appraisal.  The bank wants to insure that the property is worth what you've agreed to pay for it.  What if it doesn't appraise?  I will work with you and negotiate with the Seller(s) Agent to come to a mutually agreed upon purchase price.

The loan processing takes time. As with all aspects of the Purchase Agreement, time is of the essence.  My team of well qualified professionals will ensure that time lines are being adhered to, that all parties maintain communication, and that your lender is on top of the approval process.  We will make sure that your purchase runs as smoothly as possible.

Arrange for movers: Closing dates are not always absolute. It's important to find a moving company who is flexible enough to work with you should something come up and your date changes.

Final walk-through of property with sales professional.  You should expect that the property be in the same condition as it was when you submitted your offer.  What's more you should expect that all mutually agreed upon repairs have been completed by this walk through.

Provide balance of down payment and closing costs. 

Sign documents

Loan funding

Recording of title: Nothing is officially closed until it records through the County Recorder's Office.

Receive keys from sales professional. 

MOVE IN!

It is important that you have someone who will guide you every step of the way, someone who understands all aspects of the transaction, someone who remembers that this is your transaction and represents you.  I will work diligently to deserve the trust you have placed in me and I will endeavor in all things to protect your interests.

Welcome home.