Buying Process

Elements of a successful purchase

  • Full written disclosure from the sellers
  • Presentation of the offer and negotiations
  • The purchase agreement
  • Professional inspections from third party vendors
  • Title work and appraisal
  • Walk-through and final closing
  • Home Warranty

Preparing the offer


As your agent, I will work with you to prepare an offer that willmeet your needs and provide a solid basis for negotiating with the seller. We can review information from the Competitive Market Analysis that willdetermine a realistic offer.

The prices sellers ask

Many factors affect the price that sellers ask for their houses.

  • Physical characteristics of the house: location, age, size of house and lot, physical condition, floor plan and style
  • Market conditions: interest rates, availability of financing, qualified buyer demand, pricesof recent sales, state of the economy, seasonal demand
  • Competition: number of properties available, their price and terms, their location and physical condition, how long they’ve been on the market
  • Other factors: seller’s motivation to sell,seller’s original purchase price, seller’s need for cash

The value of a Competitive Market Analysis

As your agent I will prepare a Competitive Market Analysis (CMA) with information on properties similar to the one you’re considering. It will describe homes that are currently on the market, sold recently, and failed to sell.

Negotiating the purchase agreement

I will present your written offer to the seller’s agent and negotiate on your behalf. The sellers will have a choice between: 1) accepting your offer as presented 2)rejecting it completely 3) writing a counter offer. I will communicate to you the seller’s response and, if necessary, suggest further negotiating options. An accepted offer leads to a legally binding purchase contract.

Title insurance will protect your interests in the property

A title insurance policy is based on a search of public records that discloses whether any others have a legal claim to the property. It insures you against loss due to certain title defects.

Appraisal

An appraisal provides independent confirmation of the value of a home.  An opinion of the property’s value by an independent fee appraiser compares the value of the home to others of similar size, features, and location.  It is generally required by lenders.

A walk-thru prior to closing

A final walk-through of the property lets you confirm that the condition of the property is the same as when you agreed to purchase the home.  I will accompany you.  Should a concern arise during the walk-through, I will assist you in resolving it.

I will monitor the entire purchase process

I will help you prepare for a smooth closing.  I will track the satisfactory completion of all contingencies and conditions required under your purchase agreement.  During the entire process, I will keep you informed of the progress of the transaction.

 

A Home Warranty can protect you from unforeseen risks

Home warranties provide repair-or-replace coverage.  A home warranty can be purchased by you or the seller, as agreed upon in the contract.  Most warranties also cover the seller during the listing period.

 

For a flowchart of the Buying process, Click Here.

 

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