The 9 Steps to Home Ownership

It might seem obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want to buy a home.  Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements?

Let's schedule a time to meet. We'll talk about neighborhoods, schools, economic factors liable to affect the market today and tomorrow. At this time, we'll also help you get pre-qualified for a mortgage loan, if you're not already pre-approved.  Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.

After our initial meeting, we'll search for homes on the market that fit your criteria. We'll preview these properties to eliminate what doesn't look like a good  fit. Then, we'll schedule appointments to tour the homes with you at a time that's convenient for you.  As we tour houses, we'll get a chance to see what features you like the best about each property.  We'll point out positive features and negative features. You  can tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour properties.  With this new information, we'll refine our search criteria to narrow in on the home of your dreams.

Our knowledge of the local market is an essential factor in the house search. We'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration. As we tour houses, we'll let you know when the asking price has negotiating room and when the house is "priced to sell". Our unique "market knowledge" will keep you a step ahead of the "house hunting competition".

In a "seller's market" it's not unusual to see multiple offers on a property, full-price offers, even offers more than the list price. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.

We're confident we'll find your dream home. When we do, we'll put together the purchase offer tailored to your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).  The offer is normally presented with an "earnest money" deposit. This deposit is made to a seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).  We'll guide you through the transaction to its completion.  Our work doesn't stop there. 

It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter to the counter offer, or reject the counter offer and move on. Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.

During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. We'll gather the necessary property information your lender will need to close the loan.

You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. We will be glad to review the "Good Faith Estimate," answering questions and getting answers to those we can't answer immediately.

Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time.