How much do you want to spend? How much can you afford? If you’re planning to obtain a mortgage you will need to consult a Mortgage Broker to help you determine this and obtain a Pre-qualification Financing letter. This letter, issued by your Mortgage Broker will not only indicate how much the bank is willing to loan you, but also will help later when bidding to show that you are a qualified, serious buyer.
Working with one, professional agent who knows the local area well is wisest. Commit to one agent and ask them for their undivided attention and commitment to finding you the best property. That agent, knowing you are committed, will go the extra mile to please you. Most listings are shared, and a good agent can get you into see every home on the market.
What do you want from your living space? Do you want to be on the water or on a golf course? In the city or in the suburbs? Do you have pets? Do you need guest space for visiting friends and family?
The more you see, the more you learn. By working with an experienced, knowledgeable agent, you could save a substantial amount of time, only looking at properties that meet your specific needs, and having the many questions about the location, buildings, comparable homes on the market and recent sales answered quickly. It should be an enjoyable time for you!
Once you have found your home, it is time to make a purchase offer to the seller. Your agent will first do a market analysis to determine a fair offering price and discuss a strategy with you, taking into account current market conditions, time on the market, and whether other offers are being considered by the seller. Once you have agreed on the offering price, your agent will draw up a purchase agreement and relevant addendums for your signatures. Your agent will notify the listing agent, present your offer and expertly guide you through any further negotiations.
When the contract is fully executed, it sets in motion a number of tasks that must be completed in order to meet deadlines of the financing and other contract contingencies. If financing, a written mortgage application must be made to receive a Commitment Letter from the bank or Lender. This application can only be completed once the contract is fully executed.
You will select either an attorney or title company who will be responsible for providing title insurance to you (and the lender if there is one) and preparing all of the paperwork to transfer the title to you at closing. The home inspections will be ordered and must be completed within the time frame outlined in the purchase agreement.
The exciting day has arrived! You have done a walk-thru of the home to make sure the repairs have been made and all systems are still in working order. You either go to the title company or attorneys’ office to sign all of your paperwork and will receive the keys. When this is completed, you are the new owner!
The Fox Leiter Team has every tool imaginable to give you a competitive edge, market knowledge, technology, strength, experience, and above all, a passion for providing exceptional customer experiences.