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Home Buying process; guide to a SUCCESSFUL home purchase
No matter where your budget stands, we’ll find you the right home. As REALTORS, we’ll be with you every step of the way; from helping you narrow your search to guiding you through the negotiation process and making that offer. Want to know more?
This guide should answer the question, “What steps are involved in
purchasing a home?” In addition, it will explain the services we provide as your partner in the process. We pride ourselves on our professional approach to everything we do, and exceptional service to clients.
What to Expect When We First Get Together
Our goals are to understand your home buying needs, review the contents of this package with you, and to convince you that we would make good partners in your home search. Topics we’ll cover include:
- ▪ Information About Brokerage Services
- ▪ Finding a Great Home
- ▪ How to get Pre-Approved for a Mortgage
- ▪ The Buyer’s Representation Agreement
We recommend reading this guide to understand our approach to home buying and put together a list of questions that may come up as you read.
Step One...find a Realtor who is easy to work with and trustworthy. Professionalism and preparedness should greatly influence your decision. Once you’ve found your Realtor, we suggest signing a Buyer’s Representation Agreement. It guarantees that your interests are protected throughout the entire process of buying your home.
Step Two A...meet with a lender or mortgage broker you feel comfortable with to determine how much house you can afford. Obtain pre-approval for the loan amount you need. This will save time in the home search, and improve your negotiating position with home sellers.
Step Two B...start by deciding which neighborhoods you want to live in and whether you want a new or existing home. Here is where we can match your needs to the right home. If we work together, you should find your dream home in the first 8 to 12 houses we show you.
We are happy to provide you with neighborhood profiles or preview areas and homes to save you time.
Step Three...when you find your dream home, you should present a competitive offer immediately. We will represent you during contract negotiations. We’ll advocate for you and ensure the terms are in your best interest. The process may include a counter offer from the seller. We’ll work with the seller to accommodate their needs and ensure a win-win deal.
Step Four...the seller accepts your offer and you go “under contract.” We will ensure your home closes properly and on time. At this time you’ll likely provide an “earnest money” check to show the seller your serious intent.
Step Five...final details are handled and inspections are performed to ensure the property is perfect for you. Contract details such as repairs (if necessary) are further negotiated. During this time you’ll need to arrange insurance for your new home. Your title insurance company will provide a Commitment for Title Insurance for you to review.
Step Six...Possession of your home will occur when your lender releases funds to the seller. This can often happen the same day you sign the closing documents. Once this is complete, the next step you will take will be over the threshold of your new home!
Contact us with any questions! We are happy to help 😎
513-633-2131
The Fun PArt!
Previewing Homes
When we tour a property, you should focus on whether or not the house fits your needs and if it says “home” to you. We will not try to “sell” you the house. We are your advocates, not your sales-man/woman. Our job is to protect your best interests by doing our best to ensure the home will not be a problem for you later on. We’ll be looking for potential problems, reviewing the Seller’s Residential Property Disclosure Form (RPD), and assessing the overall condition of the property. When touring homes, please do not hesitate to point out any problems you see or details you dislike. A good home with a few adjustments could be your dream home and we would appreciate the opportunity to contact our network of professionals to get accurate quotes for any renovations before ruling out a property!
Finding the Right Neighborhood is as Important as Buying the Right House
Be sure to determine that the neighborhood where you choose to look for a home matches your lifestyle and personality.
Lending & Loyalty
Loan Pre-Approval
Buyers Representation
Buyers Representation
Prior to looking at homes you will want to meet with a lender or mortgage broker to obtain pre-approval for your loan. This helps you in several ways. First, you won’t waste time looking at houses outside your price range. Also, the lender can explain any special programs you may qualify for such as reduced rates or down payment assistance. Finally, a seller will take your offer more seriously if they know you’ve already been through the pre-approval process. Keep in mind:
- You do not have to obtain financing from the lender that pre-approves you. Pre-approval is just a jumping off point.
- We can assist you in finding a lender. Our years of experience with mortgages gives us a solid barometer for assessing lenders and we are happy to refer a few with whom we’ve had success with. Ultimately this is your loan and you should exercise diligence in your selection.
- You should feel comfortable with your lender representatives. They will be collecting very personal financial information and will often be in frequent communication with you through closing. If it doesn’t feel right, move on.
Buyers Representation
Buyers Representation
Buyers Representation
A Buyer’s Representation Agreement is a contract between a Buyer and a Broker that spells out the services the Broker will provide to the Buyer, and the commission the Broker will be paid for those services. When you sign the agreement, you are agreeing to hire a personal representative (Agent) who, by law, must represent your interests to the best of their ability. This legal obligation on the part of the Agent is called a “fiduciary responsibility.” It is the same relationship that a lawyer, banker or accountant has toward their clients. In exchange, you agree to work with the Broker/Agent exclusively. This protects everyone in the relationship.
This personal service is available at no out of pocket cost to you. The Seller is responsible for paying the Buyer’s Agent’s fee. You get a full-time professional devoted to protecting your interests and to helping you make one of the most important investment decisions of your life.