Buyer's Guide

Speaking with a lender and discussing your pre-qualification terms is important in order to ensure you are searching for homes within the proper price range. Buyers are often delighted by the amount of their pre-approval. On the other hand, the ability to afford a certain monthly payment does not mean a lender will qualify you for that amount.  Several factors are considered when a lender pre-qualifies a buyer.  The factors often include credit scores, debt-to-income ratio, past bankruptcies and other financial issues. Sellers generally do not review offers from buyers without a pre-approval (or proof of funds letter for cash purchases). Pre-qualification gives you an advantage when submitting an offer because it provides the seller with peace of mind, knowing you are capable of receiving loan approval, reflective of the amount presented on your offer.

This step may be navigated solely by the buyer or alongside a trusted real estate professional. Do you know the location where you want to purchase a home? Do you want a single-family home, condo, villa or townhome? How many bedrooms and bathrooms do you need vs. how many you prefer? What features do you need and want? What features do you dislike? Several questions are to be asked when learning the specifications for your purchase. Buyers tend to contact us during this step, in order to receive professional guidance on home specifications compared to market inventory. Knowing the market and the cost of specific home features allows you to ensure that what you are seeking is indeed feasible. 

Searching for the right home is the most enjoyable step, aside from moving into your new home. We will alleviate any stress from this step by researching homes, scheduling showings and gathering market, neighborhood and property information. While we are on site at a home with you, we will pay close attention to details throughout the home and bring attention to features and/or “areas of concern” you may not have noticed. This allows you to focus on other important features of the home such as your driving experience to the home, location of the home (including distance to family and friends, offices, schools, grocery stores, entertainment, etc.) and the flow and floor plan.

Offers are often contingent upon the buyer completing a home inspection. We will help arrange this process by recommending quality and reliable professionals to complete your inspection. We will be on site during the entire home-inspection process and ask for you to be available to meet with the inspector in person or via virtual-conferencing at the end of the inspection. The inspector will briefly verbally review the results of the inspection and provide a full report with details and photos. If no major issues are reported, the closing process will proceed to step 8. If major issues are reported, we will discuss whether or not we believe the items reported are repairable and your options for proceeding with the purchase and/or possibly renegotiating the terms of your offer.

Lenders and mortgage companies require an appraisal to warrant the agreed-upon purchase price of the home. The appraiser is hired by the lender and provides an independent value of the home to ensure that all parties are paying a fair price.

Your closing date will be scheduled, once all paperwork is finalized and the title company receives the clear-to-close from the lender. We will contact you regarding the scheduling of your final walkthrough and closing date/signing time. As the buyer, you must complete a final walk through or waive the option to do so. We strongly recommend completing the final walk through within 24 hours prior to closing. This provides an opportunity to verify the home is in the exact condition expected when you presented your offer. The sellers are required to sign all closing documents first; so your closing time will be scheduled for a time after the sellers closing time. Buyers are given the option to sign in person or electronically with a notary but we strongly recommend planning to sign in person, at the title company’s office. Questions may arise during closing and it is easier to answer questions and resolve any issues when you are physically at closing.