Overwhelmed by the Buying Process?
Buying a home can be an overwhelming undertaking. It is helpful to hire a professional to help guide you through the transaction & streamline the process.
What Does a Buyer Agent Do?
A buyers agent is a Realtor you hire to represent you. This means they work with your best interests in mind at all time, negotiate for you, identify properties based on your needs, advise you through the inspection, mortgage process & facilitate the communication between all parties to ensure a smooth closing.
Where To Start?
People who do this for a living know exactly where to start! Unfortunately, it shouldn’t start with looking at properties. It starts with your financial! We list some important things to NOT do here.
Step 1 Pre-Approval & Financial Considerations
Before you begin your search, you need to go through the pre-approval process & see how much you qualify to purchase. A mortgage professional will help define your purchase price, determine which loan works best for you & outline your monthly payments. This will help you formulate your search criteria & gives you the ability to proceed with confidence & knowledge of your true price range.
Step 2 Buyer’s Representation & Working With the Buyer’s Agent
It is important to understand how you will be represented & how your rights will be protected. This is done through working with a Buyer’s Agent.
Step 3 Setting Up Search Criteria and Looking at Properties
We will set up a search criteria on Trend MLS & e-mail properties to you as they become available. We will begin to see properties as soon as they come up!
Step 4 Submitting an Offer on a Property
Once you find a house you like, you need to put together an offer. This consists normally of the following : 1. Signed Agreement of Sale; 2. Signed Seller’s Disclosure; 3. earnest Money Deposit; 4. Pre-approval letter; and 5. A BFI (Buyer’s Financial Information Form).
Once the offer is completed, it will be submitted to the Seller’s Agent. We will negotiate on any points that may be unresolved & then sign off on all agreements should we come to terms. The last date that everyone involved either signs or initials the Agreement of Sale is known as your date of execution.
Now you are under contract! With settlement in the not so far off distance there is still a lot of work to do to get to closing. Your agent should be right by your side the whole time.
Contact us today if you are thinking about buying a home! We can help determine if the time is right for you & put you in touch with a lender who can assist in determining your qualifications for financing.