Home Finding Process
Your Road Map to Success with a Buyer Agent
Initial consultation with Buyer Agent (see Blog #1)
- Review Buyer’s View Board of Specialist to choose a local Realtor® professional in your selected town or city
Obtaining Financing
- Meet with several lenders; usually your Buyer Agent can recommend 2-3 lenders from a Bank, Credit Union or Mortgage Broker
- Receive a Pre Approval Letter, this is needed in a tight housing market, sellers usually want to see that your are at least prequalified
- Determine range price based on your debt to income (DTI)
- Finalize all needed documents to be sent to your Lender
- Review appropriate Lending programs
- Check to see if there are any incentive programs (e.g. first time Buyer, mortgage credits for example)
- Ask for an estimate of closing costs prior to picking a lender
- Review and share the suggested lender programs with your Buyer Agent too
Once you have a Buyer Agent and Lender, Lets Find the Right Home
- Starting with a lengthy phone call &/or office visit, highlight areas, home features. Ask Buyer Agent to set up searches to map to your stated requirements, interests, wants and budget
- Have your Buyer’s Agent share access to MLS (multiple listing service) perhaps their mobile app, web site and automated searches
- Get educated on the valuation tools available to you as the Buyer; they are usually 3-4 sources that are available to a professional Buyer’s Agent
Preparing an Offer
- Determine price based on research of recent near by, similar sized and featured homes; a final comparative market analysis may suggest the right offer price.
- What’s included; window treatments, all appliances, washer/dryer?
- What closing date mutually works best for seller and buyer?
- Review and sign all disclosures; Lead Paint, Seller Disclosures, Review tax assessment card and last local real estate tax bill