Buyers

I know the buying process can be stressful and intimidating as I’ve gone through it personally a few times already. I’m hoping the below summary of the process will make you more comfortable. Of course, please contact me if you have any questions!

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The Buying Process:

1. Contact me (or your existing real estate agent if you already have one) to let me know you’re possibly interested in buying a new home.
2. I will ask you some questions to make sure I understand your needs (e.g. “Why do you want to buy now instead of renting?“, “What are your plans for the next five years?“, and so on). I ask these questions upfront because not everyone should be buying a home. This also helps me to start narrowing down which neighborhoods may be well-suited for you.
3. I will ask you how much money you have to put down for your new home and how much income you currently earn. I know this is personal information, but it helps us establish the proper price range for our search.
4. We will start the loan pre-approval process right away so that we can make a strong purchase offer (I’ll explain later). I work with a few great lenders so I’d be more than happy to refer you to one of them.
5. I will email you some properties that are currently available for sale based upon your requirements that we discussed earlier. You can review these properties when you have time and let me know which ones you do and do not like.
6. We drive around together and view the properties that you are interested in from the bunch that I emailed to you. We will most likely meet on a couple different occasions and see enough properties so that you can  decide in 5 seconds whether a place meets your requirements.
7. We schedule a 2nd showing for any properties that have potential.
8. We submit an offer! This is the exciting and nerve-racking moment! Don’t worry, I help you fill out all the paperwork and will not let you buy a house that I think is not suitable or a good deal. Besides submitting a purchase agreement, you will also submit a personal check for a couple thousand dollars to show your serious. Don’t worry, the seller can’t cash this if you don’t go under contract.
9. We negotiate with the seller. Most people detest negotiating as it’s not something we normally do. I understand this, but will help you during the process. Negotiating is a game and everyone in real estate plays it! We can negotiate the price, closing date, contingencies, as well as other items.
10. We go under contract! This occurs once everyone agrees on all terms in writing. Once this happens, the property is taken off the market to give you time to do your due diligence (see next step). At this time your personal check is now cashed and put in escrow. Escrow is a holding account that ensures that neither the buyer nor seller can touch the money if they default on their agreements.
11. Attorney review and property inspection. You are normally given about 7 business days after going under contract to have your attorney review the agreement, and to inspect the property for any needed repairs or problems. Again, I have a couple attorneys and inspectors if you need a referral. These are great professionals that I deal with all the time, and that I know will get the job done for you!
12. We re-negotiate if you want. You can adjust the purchase price or demand that certain items are fixed prior to closing based upon the results of attorney review or inspection.
13. We get the loan approval. We’re almost there now! Since you already completed the pre-approval process your lender should already have most of your personal information. Now your lender just needs to review the property you intend to buy. The lender does this by ordering an appraisal. The appraisal tells the bank whether the property is actually worth what you’re planning on buying it for. The lender gives the clear to close once all financing items are met.
14. Closing day! Today is the big day. Your lender will contact you the prior day to let you know how much money to bring (in the form of a cashier’s check). You will also want your attorney to review these numbers to make sure everything is accurate. You will arrive at the title company with your check, and leave with keys in hand! Congrats!

I know this process is pretty long and intimidating, but that’s what I’m here for. I promise to hold your hand through each and every step. If you’re feeling more confident now, or even if you just have questions, please contact me.

I look forward to working with you!