Welcome Real Estate Buyers

We’ll help you find a new home

Basic Information for Buyers:

Decide if you should buy or not – Not everyone should purchase real estate.  Some do not feel comfortable owning, or they do not want the responsibility.  Others don’t have their financial situation ready to purchase.  For others it does not makes sense due to where they are in their lives.  Look at your situation to see if it makes sense for you.

Financing a property – If you don’t have the cash to buy the home without a loan then it is off to the bank/lender to see what you can qualify for.  If you have a regular job, good credit, and some money saved you are probably in pretty good shape.  If you own your own business, get paid with tips, or have lots of debt then it may be more difficult.

What can you buy? – Your lender (and bank account) will let you know how much house (price) you can purchase.  Then talk with a real estate agent to see how much house that will buy you.  They can search the whole market on the MLS (Multiple Listing Service) to see the number of bedrooms, bathrooms, and square feet that come with that price tag.  Then see which areas these houses come in to see the ones you like best.

The Process of Buying:

Before you begin looking – One important item to take care of prior to the purchase is to determine how you will purchase the property.

Unless you are buying a home directly from the seller there is an agreement already signed that allows you to hire an agent to assist you for free. So there is just no reason not to.

The search process – Finding the right home is more a process of elimination than finding the perfect home.  In finding the right fit for you the inventory that is for sale will be reviewed.  Cast a wide net and narrow it down – begin with the areas you like best, then narrow to neighborhoods, and finally houses.

Making the offer – Depending on the trend (seller’s market or buyer’s market) will depend how much strength you have to negotiate.  But for everyone to sign in agreement it must be acceptable to all parties – buyer and seller.

Buying the home – After the contract is accepted you are “in escrow”.  A title company is engaged to hold the deposit, and make sure all the terms of the contract are completed.  Seller disclosures will be reviewed, and inspections made, and if necessary repairs will be negotiated so everyone is ready to move to closing.

Closing – Before the transfer of the property to the buyer everyone will sign closing documents.  These may include loan documents (if not paying cash).  The down payment is paid to escrow, and utilities are transferred to the buyer.  Once the deed is recorded at the county, it is your house.  Congratulations!!

Stress Busters & Risk Reducers:

Hire a professional agent – Unless you are buying a home directly from the seller there is an agreement already signed that allows you to hire an agent to assist you for free. So there is just no reason not to.

Don’t be house poor – In large part the Great Recession came about because people bought their dream home and mortgaged their life to do it. Don’t do that, go on vacation instead.

Quality of life Look at the home from all aspects – upkeep, commute to work, distance from relative or whatever else is important. Then confirm that it is the house for you.

Where is it in the market cycle  Deciding to buy, especially for financial reasons, is not just to buy what is cheapest.  That is often not the best choice.  Be aware if the market is dropping or rising and make offers accordingly.

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