Home Buyers

Our goal is to help Buyers make great choices through education of the real estate process, location, and affordability. We guide you through the purchase process, your responsibilities as a Buyer, our responsibilities as your agent, and to help provide you with the questions you might need to ask the variety of professionals involved in this process as a Buyer.

We respect that a home buyer’s are making what is generally the largest purchase that a person, couple, or family will likely make. We are very careful to help you make educated decisions based on value, condition, skills, and finances.

Here are some terms we can help you become familiar with.

Home Buyer Types

Downsizing
First Time Buyers
Investors
Upsizing

Buyer Documentation Usually Required

Paystubs
Bank Statements
Credit report
Utility Bills

Credit Report Criteria

Types of credit
Credit Scores
Debt on the credit report
Verification od data

Mortgage Companies

Generally offer the largest number of financing programs
Geberally offer the largest number of Downpayment Assistance Programs
Generally more accessible (non-banker hours)

Banks

Generally a more Limited amount of programs
Gererally not as flexible as a mortgage company
You may have a personal relationship with one (important)

Credit Unions

Generally has a Limited amount of programs
You may have a personal relationship with one (important)
Often more flexible in terms / conditions

Common Financing Programs

FHA

Generally requires a 3.5% downpayment
Most downpayment assistance programs are FHA related
Possible 203k Repair programs available (ask your lender)
Will likely require PMI insurance (adds to your payment)
Some home Sellers may choose to not allow FHA financing
Generally requires a more detailed appraisal / inspection
Appraisal may require repairs to be done
May have an assumable clause
Appraisal stays with the property for 6 months

Conventional

Generally requires a 5% to 20% Downpayment
May Require PMI Insurance (if under 20% equity)
May have an assumable clause (ideal)

VA

Potential 0% Downpayment
May have an assumable clause
May require specific veteran paperwork

Hard Money Lenders

Generally for short term investment properties
Private money with its own requirements
Generally a large downpayment
Generally a much higher interest rate
Generally wants a lot of equity in property as security

Realtor Agency

Your Realtor works for you and not the Seller
Your Realtor may act as a Dual Agent only with your permission
An agreement MUST be in place before a property can be shown
The same type of agreement must be signed for every property shown

Realtor Commission

Agreed in advance with you
May be paid in part/full by Seller
May be paid in part/full through Seller Concessions
May be paid in part/full by lenders
May be paid in part/full by you

Realtor Documentation

Realtors write offers on your behalf
Realtors use board (state specific legal) documents
Realtors provide a market analysis’ so you can make an educated offer
Realtors provide Seller documents for review
Realtors submit Buyer approved offer documents
Negotiation begins and documents completed
And much more….

Realtor Ethics

Realtors must abide by a National Code of Ethics
Realtors have a legal, ethical, and moral responsibilty to work in your best interest

Our Experience

We have 13+ years real estate experience
We have 7+ years as a Financial Health Counselor prior to real estate
See our Contact / About page for more details

Prior to seeing a property

A Buyer Agency Agreement must be completed
A Proof of Funds (or financing) must be provided
The Buyer identifies what property to see
A Realtor schedules a showing
You Visit properties with Realtor

Making an Offer

Realtor provides CMA
Realtor provides an opinion on the property
Realtor and Buyer agree to the terms of the offer
Realtor writes up your offer
Realtor submits your offer
Realtor negotiates your offer

After an Accepted Offer

You hire a home inspection
Lender sends an appraiser to evaluate property
Realtor/Lender/Title Company to record/order/update paperwork
Lender provides Clear to Close after all their conditions are met
Realtor/Lender/Title Company to review paperwork
Realtor schedules the closing
Buyer to wire/get a Certified check for their closing funds
Closing
Your new keys and your new house!

Create Your Own Search

Click HERE to create your own Personal MLS Search