Thursday, March 08, 2018 / by Taylor Dixon
Russ Vegas - Byron Carman - Harrison Rainwater
Introduction to the Admin Team
Cherie Mack - Kristine Barron
The Home-Buying Process
The Mortgage and Loan Process
Funding Your Home Purchase
1. Financial pre-qualification or pre-approval
Application and interview
Buyer provides pertinent documentation, including verification of employment
Credit report is requested
Appraisal scheduled for current home owned, if any
Loan package is submitted to underwriter for approval
3. Loan approval
Parties are notified of approval
Loan documents are completed and sent to title
4. Title company
Title exam, insurance and title survey conducted
Borrowers come in for final signatures
Lender reviews the loan package
Funds are transferred by wire
We recommend our buyers get pre-qualified before beginning their home search. Knowing exactly how much you can comfortably spend on a home reduces the potential frustration of looking at homes beyond your means.
Making an Offer
Once you have found the property you want, we will write a purchase agreement. While much of the agreement is standard, there are a few areas that we can negotiate:
What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a low offer just to see if the seller accepts, this often isn't a smart choice, because the seller may be insulted and decide not to negotiate at all.
The Move-in Date
If you can be flexible on the possession date, the seller will be more apt to choose your offer over others.
Often, the seller plans on leaving major appliances in the home; however, which items stay or go is often a matter of negotiation.
Typically, you will not be present at the offer presentation - we will present it to the listing agent and/or seller. The seller will then do one of the following:
• Accept the offer
• Reject the offer
• Counter the offer with changes
By far the most common is the counteroffer. In these cases, my experience and negotiating skills become powerful in representing your best interests.
When a counteroffer is presented, you and I will work together to review each specific area of it, making sure that we move forward with your goals in mind and ensuring that we negotiate the best possible price and terms on your behalf.
Prepare for It
Closing day marks the end of your home-buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following:
• A certified check for closing costs and down payment. Make the check payable to yourself; you will then endorse it to the title company at closing
• An insurance binder and paid receipt
• Photo IDs
• Social security numbers
• Addresses for the past 10 years
Transfer of title moves ownership of the property from the seller to you. The two events that make this happen are:
Delivery of the buyers funds
This is the check or wire funds provided by your lender in the amount of the loan.
Delivery of the deed
A deed is the document that transfers ownership of real estate. The deed names the seller and buyer, gives a legal description of the property, and contains the notarized signatures of the seller and witnesses.
At the end of closing, the deed will be taken and recorded at the county clerk’s office. It will be sent to you after processing.
Your Home Search
I love helping buyers find their dream home. That's why I work with each client individually, taking the time to understand their unique lifestyles, needs and wishes. This is about more than a certain number of bedrooms or a particular zip code. This is about your life. And it's important to me.
When you work with me, you get:
I have the systems in place to streamline the home-buying process for you. As part of my service, I will commit to helping you with your home search by:
Working with you until we find the home of your dreams
Frequently Asked Questions
How will you tell me about the newest homes available?
The Multiple Listing Service Website provides up-to-date information for every home on the market. I constantly check the New on Market list so I can be on the lookout for my clients. I will get you this information right away, the way that is most convenient for you; by phone and/or email.
Will you inform me of homes from all real estate companies or only Keller Williams Realty?
I will keep you informed of all homes. I want to help you find your dream home, which means I need to stay on top of every home that's available on the market.
Can you help me find new construction homes?
Yes, I can work with most builders and get you the information you need to make a decision. On your first visit with the builder, I will accompany you. By using my services with a new construction home purchase, you will receive the services I offer, as well as those provided by the builder, at no additional cost.
How does for sale by owner (FSBO) work?
Homeowners trying to sell their home without agent representation are usually doing so in the hopes of saving the commission. If you see a FSBO and want the advantages of my services, let me contact the owner for you and make an appointment. Most times the homeowner will work with an agent, even though their home is not listed, since the agent is introducing a potential buyer to their property.
Can we go back through our property again once an offer is made, but before possession?
Usually, we can notify the seller and schedule a convenient time to visit the property again. Immediately before the closing, we will schedule a final walk-through and inspection of your new home.
Once my offer is accepted, what should I do?
Celebrate and focus on moving into your new home! You will want to schedule your move, pack items and notify businesses of your address change. I will provide you with a moving checklist to help you remember all the details. I will also give you a good faith estimate and HUD statement, which will indicate the amount you will need to bring to closing.
Let's look for a new home.
To assist you in the home search journey, I have organized a list of homes showing us the following information for each:
• Photos of the home
• The home address
• The current asking price
• The square footage and property taxes
• The number of bedrooms and baths
• The age and lot size
• Unique features and comments
Once we narrow down the list of properties that are of interest, I will:
• Provide you with more detailed information about the home
• Review the county tax records for tax liens, etc.
• Schedule a personal visit to the home
• Tour the home with you
• Determine how the asking price compares with other homes in the area
• Answer any and all questions you may have
Greater Baton Rouge Area
MULTIPLE LISTING SERVICE (MLS)
The 10 Commandments of Purchasing a Home