Are you a first time home buyer? Looking to upgrade to a bigger home or better location?
As a Buyer Broker we can help you navigate the challenges of home purchasing at NO CHARGE to you, the buyer. For residential real estate purchases we are paid by the seller at closing.
As a full service brokerage we are constantly working with buyers, sellers, tenants, contractors, and leasing agents. This places us in "The Deal Flow" giving our agency a competitive edge on new listings, unlisted properties, pricing for improvements, and a general understanding of market conditions in order to help you have the winning bid at the best possible value.
The process for a first time home buyer and second home buyer are relatively similar.
1. What are you looking for in terms of : Location? Size? Bedrooms and Bathrooms? Other must-have features? How long do you plan to live here?
2. What is your price range: How much buying power do you have at current market rates? What will your monthly obligation for debt service, interest, property tax, insurance, utilities, landscaping, and maintenance look like?
3. Who is financing your loan: What institution? Have you received a pre-approval letter? How much are you putting down? How much cash do you have left for closing costs, improvements, moving, etc...?
4. What is your time frame: When are you looking to move? Are you in an existing lease? Do you need to sell your current home or get a bridge loan?
5. Time to Shop: Once we know your needs, wants, price range, and have your financing in place we can setup a time to tour various homes that meet your criteria. Since we've done our due-diligence before hand we will be ready to write up an offer the second you find the right home.
6. Making an offer: We will submit an offer with an Earnest Money Deposit for ~1% of the purchase price (although this can vary widely depending on the purchase). This will be held in escrow and deducted from the total. Once the seller accepts we are now under contract!
7. Inspection Period: outlined in the contract is an inspection period. We can help you select an inspection company to perform a wide variety of essential home inspections. You will also utilize this period to ensure your financing is in place. If there is anything that isn't satisfactory about the home you can - a. Ask the seller to fix. b. Walk the deal. c. Accept it as is. After the inspection period is over, if you walk away you are at risk of losing our earnest money deposit.
8. Closing: You will select a title company to facilitate closing and provide a title policy. At closing your lender will wire required funds and tile will transfer.
When it's time to upgrade, find the next home could mean finding the place you call home for the next 20 years! Do you sell your current home or lease it as an income producing property? What area will best stand the test of time? We can help you weigh these important questions.
Finding the right neighborhood that will appreciate, the right home you can grow into, and something that fits your price point are all critical for a first time home buyer.