Buyers...What to expect when buying a home
Buying a home or farm is for most people the single largest investment they will ever make. Buying a home is not just an investment it is your personal space & often your life's dream.  My goal is to help you find
your dream home or farm, one  that fits all your needs and desires. Visit Client Testimonials & Solds!

A buyer agent is legally responsible for representing the Buyer's interest in a real estate transaction. Usually, the buyer agent is compensated by the seller at the time you purchase a home. So why not use a buyer agent, after all the seller is paying for this service for you and it protects you.

The Process explained...

•  First talk to a lender to determine what you qualify for and what price range you feel comfortable with.
•  While you are researching information, DO NOT let the lenders run your credit until you are ready. Running your credit too many times by different lenders can effect your credit score.
•  If you need a list of lenders, I will be happy to provide you with a list of lenders, I have from past client recommendations.
•  Do not purchase any big ticket items prior to purchasing a home. This could greatly affect your credit rating, ratio, and/or your ability to get the best loan.
•  Once you find a lender you feel comfortable with and the programs they have to offer, you should get
   a pre-approval letter.
•  Ask your lender to do a Good Faith Estimate for you, so you will have an idea of all your closing cost at settlement and approximately what your payments will be.
•  Next set an appointment to meet with me and bring your lender letter with you. We will sit down and discuss your needs and desires of what you want in a home or farm.
•  I will do a search based on the criteria of what you want, price range, area, type of home, amount of land, etc
• Out of town buyers are a spatiality of mine! As an e-PRO Realtor, I have the tools & skills to do much of our initial meetings & searches via the internet. I will keep you up-to-date on all listings that match your needs. I will preview homes, land & farms for you, take digital photos, make custom WebPages for you so you can preview many farms prior to your visit to our area.
•  Next we will go look at some homes or farms. While we are looking be very open about what you do and don't like about the listings we look at. This will help me get a feel of what you are looking for and helps me narrow my searches down for you.
•  Once we find a home for you, I will write the contract and present it to the sellers or seller's agent. I will negotiate for you to get you the best deal.
•  Once we have a ratified contract, I will help you set up any home inspections included in the contract.  If there are further negotiations needed after the home inspection, I will help do that as well.
•  The day of settlement, I will do a walk through with you and accompany you to the settlement.
• As my previous clients will tell you, my goal is to make the buying process not just painless but FUN!
• Join my satisfied buyers club today!

A quick overview of the buying process
 

Pre-Approval is an Advantage
Applying for a loan and obtaining approval before a buyer finds a home they want to buy can be a distinct advantage. Making a loan application is going to need to be necessary eventually anyway unless they are going to pay cash for the home. 

Pre-qualification is a procedure where you get an opinion from a mortgage officer about how much you qualify for. In the process, any obvious difficulties that might cause problems might be discovered. This process is always recommended but it doesn’t have the advantages of a pre-approval. 

Pre-approval requires a complete application with credit reports and verifications. The Mortgage Company will issue a commitment subject to a specific interest rate and points and a satisfactory appraisal when the property is identified. 

Time limits are usually placed on pre-approval commitments. It is recommended to be ready to look at homes and make a decision after you receive your pre-approval commitment. 

The advantages of being pre-approved are:

• Looking at the right-priced homes.
• Avoiding disappointment in deciding on a home you can’t afford.
• Saving money with a seller who is confident about taking their home off the market with buyers who have a definite commitment.
• One less contingency that the seller will be concerned with to get their home sold.
• Closing more quickly, the lengthiest contingency is usually the mortgage approval. The appraisal can be done more quickly.
• Minimizing the anxiety of not knowing whether or not you qualify.  [back to top]

Preparation for a Mortgage Application 
Employment
            Names and addresses for two full years
            Gross monthly income
            W-2’s for two years, if available
            Year to date pay stub
            Proof of income from rentals, investments, etc
            Proof of retirement, disability or Social Security
            Proof of child support or alimony paid/received

         If self-employed:
            Two years Federal Income Tax Returns
            Current year profit and loss statement 

Creditors
            Each creditor’s name, addresses and type of account
            Account numbers for each
            Monthly payments and approximate balances
            Amounts of child care expenses

 Banking
            Names and addresses of banking institutions
            Account numbers for all accounts
            Type of accounts and present balances

Miscellaneous
            List of assets in stocks, bonds and property
            Life insurance cash value (documented if used as cash down payment)
            If applicant is selling a home, a copy of sales contracts
            Social Security numbers for all parties
            Veterans- Certificate of Eligibility & DD-214
            Cash or check to pay for application fee

 Property
           Copy of sales agreement
           Copy of listing agreement
           Instructions on how appraiser is to gain entrance                [back to top]

Home Inspection
A provision for a home inspection can be added to the sales contract identifying the areas to be inspected by a professional inspector. The purpose of the inspection is to find major defects in the home.
The areas of concern include but are not limited to: 

• Mechanical – heating, air-conditioning, appliances.
• Plumbing – fixtures, lines, water heaters, sewers.
• Electrical – wiring, out of date systems.
• Structure – doors, windows, roof, foundation, drainage, ventilation, and environmental hazards.

I will be happy to supply a list of inspectors. You are encouraged to accompany the inspector to ask questions and receive a written report itemizing any areas of concern.

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