Are you ready to begin your home search? Whether you are looking for a tri-level in Tacoma or a fixer in Fife, I am looking forward to helping you find the right home at a price you are comfortable with. Once I learn what you are looking for, my years of experience and knowledge of the area will be put to good use finding you a place to call home. Here is an overview of what you can expect:
Determining what you need in a home
It is helpful for me to have a thorough understanding of what you are looking for in a home as we begin. We will review your current home, learn what you want to change, look at your needs and wish list, and discuss your other requirements such as budget. If you have not yet met with a lender to get pre-approved, I can supply you with the names of several lenders who may be a good match for your needs. A pre-approval also strengthens your bargaining power when negotiating with a seller.
We Begin our Search
I will review the current inventory of homes in the areas you are interested in for homes that meet your criteria. I will analyze each and present these to you with my thoughts. You can discard any which don’t feel like a good fit and we will then make a plan to tour those which do.
Review Needs Analysis
I often find that after our first tour, my buyers’ list of wants and needs requires adjustment. This may actually be true several times during our search. This is completely normal and the more information you can give me about your goals, the better!
New Listings
In addition to checking the MLS database daily, I input your information into the MLS database, which notifies me via e-mail when new properties are added that match your search criteria. Once a new property is available I will review the property and send it to you with my thoughts. You can receive those new listings too and give me your thoughts.
Previewing Properties
After touring properties with you, I usually have a pretty good idea of what you are looking for in a home. As new homes come on the market which meet your criteria, I will preview as I am able and share those that may meet your needs. We will tour those that feel like possibilities.
Determining Your Offering Price and Writing the Offer
Once you have found the right house, I will prepare a Comparative Market Analysis (CMA) on the property to help determine the fair market value. But there is more to the offer than just price. We need to consider closing dates, down payment and earnest money and a number of other items. I will explain your contractual rights and responsibilities, talk about different negotiating strategies and guide you through.
Negotiating
I will deliver your offer to the Listing Agent. I prefer to present the offer in person when I am able. This is an important step because it gives me an opportunity to explain the offer, overcome objections, build rapport and answer any questions the sellers may have. The Sellers will do one of three things: Accept, reject or counter the offer. If countered, it will be our opportunity to review the seller’s offer and begin negotiations from there.
Inspection
You have the right to have an inspection of the property shortly after making an offer. I recommend you hire a professional inspector to help you with this task and have several recommendations. As problems are identified (and most properties have challenges of some sort), we can ask the seller to repair them or compensate you for future repairs. This is also part of the contract negotiations.
Appraisal
Your lender will hire an appraiser to determine if the property is worth the price you are paying to protect your interests and those of the bank. If the appraisal comes back low, you will have several options depending on the contract.
Closing
The “closing” is actually comprised of two separate closings, however they happen at the same time. At the real estate closing you and the seller will sign closing documents relating to the transfer of the property. The loan closing takes place when you sign the loan documents. After all documents are signed, the lender disburses funds to the closing agent, seller is paid and title to home is yours.
Possession
The time and date of possession of the property is negotiated on the contract. Upon possession, you can start moving in!