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When buying a home or selling a home, there are a number of reasons to consult with a real estate professional before taking the first steps. Finding a trusted source to weed out the most important details that can be lost in the abundance of information available.
Take a moment a preview the services offered by our company that benefit you when selling a home or buying a home.
Seller Consultations:
Do you have to sell your home prior to buying a home? When selling your home to buy a home, there may be quite a few questions you may have regarding pricing your home, marketing strategies, the costs involved, and what to be aware of when you are in two escrows at the same time that can be answered in a brief consultation. I personally like to meet at my office so that we have access to information and can take our time going over your options so that you can focus on getting your questions answered without distraction.
Buyer Consultations:
When considering buying a home, consult with a Realtor prior to driving around looking for your home. This can save you time, money, and give you direction in where to look and what is available in your desired area and price point.
Pre-Qualify For A Home Loan:
Honestly, this the first step in the home buying process. During your Buyer Consultation, your Real Estate Agent can recommend a lender or two that can help you. Every one has a different financial picture and if you are in need of a specialist with down payment assistance or credit repair, a Real Estate Agent is a great resource in finding the right person to help you. It is not everyday that you get a home loan, so having our everyday experience in working with lenders can be incredibly valuable when choosing yours.
Read more: What you need to to qualify for a home loan
Buying A Home
There are many reasons for buying a home that can include a buying a home for the first time, buying a bigger home, buying a smaller home, and buying an investment home. I find that many situations may be similar however not two transactions are the same. There are a variety of rights, duties, and privileges that go along with buying a home and can be discussed at length with your Real Estate Professional.
Your Purchase Power
First step in buying a home is to know your purchase power by getting qualified for a home loan. Talking to a lender is the first step so that you are able to know how much home you are able to purchase. If you have credit issues, lenders can connect you with people and programs that can help you take the best actions to clean up or clear up your credit. They are a valuable resource in know what programs are available to help you with down payment assistance, if cities or counties offer help with first time home buyers or other government loan programs. Having a pre-qualification isn’t enough these days, many sellers like to see that an underwriter has reviewed your file and that you have the green light to place an offer.
The Offer
Once you have found the home you would like to buy, it is time to submit an offer. If you are not in agreement to offer the seller’s asking price, consult your real estate professional with your options. Your offer price may be determined by things like:
Market Activity -Is it a buyer’s market or seller’s market?
Market Value- Will the home appraise at your offer price?
Multiple Offers- If the Seller is considering more than one offer, what are your most favorable terms?
The Escrow
Escrow is a process where the Buyer and Seller deposit written instructions, documents, and funds with a neutral third-party to ensure that at all contractual obligations are met. The escrow process enables the parties to the escrow to deal with each other without risk, provides an accounting of all the funds deposited in escrow, and provides the Buyer and Seller with a settlement statement. Once the obligations have been met, they transfer funds to the seller and title to the buyer.
Listi
ng Your Home
If you have to sell your home before you buy a home, you may want to interview real estate agents before choosing one you trust, the listing of your home can be short and sweet and can be a contingency of buying your next home. Actually, there are just a few forms to go over and choices to be made before you sign and seal the deal to allow your agent to start marketing your home for sale. This listing contract is not as lengthy as the purchase contract however, you have some very important choices to make.
The Contract
The very first item of business in listing your home is to have your agent go over an Agency Disclosure so the roles of a listing agent, a selling agent, and the dual agent are explained. It is not a set the price and sign contract. In your listing agreement, you, the seller are the one that determines the list price and you should have received sound advice from your trusted agent during your consultation. In the listing contract also, once you and the listing agent have agreed on a commission, your agent will also fill in how much is offered out in the Multiple Listing Service to a selling agent. There are formalities to make sure that all parties on title are agreeing to the terms and a brief seller’s advisory sums up the rights, duties, and privileges in selling your home.
The Offers
It is an exciting moment to be notified that your agent has received an offer to present to you. There are some highlights that can be discussed over the phone however, sitting down and going over the terms presented in the offer, a seller’s net sheet, and determining if you will accept or counter the offer with additional terms is definitely something you want to set aside time to focus on if the right offer for you has been made. Once again, I suggest meeting at the office so you can focus in on the decisions that need to be made. It is as important that your agent know the purchase agreement as well as the listing agreement so that all items can be addressed, accepted, or countered without any major surprises in escrow.
The Escrow
Escrow is a process where the Buyer and Seller deposit written instructions, documents, and funds with a neutral third-party to ensure that at all contractual obligations are met. The escrow process enables the parties to the escrow to deal with each other without risk, provides an accounting of all the funds deposited in escrow, and provides the Buyer and Seller with a settlement statement. Once the obligations have been met, they transfer funds to the seller and title to the buyer.
Related : What to expect in the escrow process when buying a home
