Before you start shopping for your new home, I recommend you do some things to make the process easier.

Build Your Green File….. A green file contains important financial documents. You will need it to secure financing for your property. 

The typical green file should contain:

• Financial statements

• Bank accounts

• Investments

• Credit cards

• Auto loans

• Recent pay stubs

• Tax returns for two years

• Copies of leases for investment properties

• 401K statements, life insurance, stocks, bonds, and mutual account information

Check Your Credit Rating

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution to see how much you can afford, they’ll check your credit scores from the three credit reporting agencies Equifax, Experian, and Trans Union to provide an estimate of mortgage costs and a pre-approval letter for potential sellers.

Be Careful With Your Finances

Now is not a good time to make sudden career changes or large purchases.  You want to have little if any changes to your credit report from now until closing.

I’ll guide you through every step of the home buying process and in many cases, provide you with access to property listings before they hit the general market.

As an experienced, knowledgeable residential real estate professional, my role is to serve as a trusted guide who’ll help you navigate the intricacies of the market, negotiate on your behalf, and offer insights into neighborhoods and property values who not only understands your preferences but will also anticipate your needs as they change during the home search.

From identifying suitable properties to managing all the paperwork and their deadlines, I’ll streamline the process, alleviate stress, and ultimately maximize the likelihood of finding you the perfect home. 

Things To Consider In Selecting A Realtor:

• Pick an agent you feel comfortable with

• Choose an agent who listens to your needs and concerns

• Ask how much time the agent will have for you…are they available at night and on weekends

• Look for a full-time agent who has experience with transactions like yours

• Interview a few agents: Are they familiar with the areas you’re interested in 

• Does the agent return your calls promptly

• Ask for a list of properties they’ve sold and a list of references.

• Ask about their credentials and education: A good agent will continually strive to improve and gain knowledge

• Read their online reviews 

It’s time to find the right home for you, and it’s important to consider things that are important to you, such as location, size, and amenities.  

Researching neighborhoods and their amenities, schools, and overall community atmosphere provides valuable insights into what living in a community may be like.

Take a Drive

Get to know the neighborhoods that interest you. Take a drive and get a feel for what it would be like to own a home in the area. Start getting a sense of the properties available in those areas.  See how far away the schools, stores, and work are from the neighborhood and what traffic is like at different times of the day.

Narrow Your Search

Select a few homes that interest you the most and make appointments to visit them. Ask your realtor about the potential long-term resale value, school ratings, recreation activities, and any other questions you may have about each home you’re considering.

Time to Buy

Once you have picked out the home you want to purchase, your real estate agent will help you make a competitive offer that the seller may accept.  A good agent will investigate the potential costs and expenses associated with the new property and will help you present your offer to the seller in a way that gives you a competitive advantage over any other potential offers they’ve received.

You’ve found the perfect new home, now all you have to do is have your offer accepted and successfully navigate the closing process.  

Here is The Process…in a Step-by-Step Outline

The Initial Agreement and Deposit

An effective agreement is a legal arrangement between a potential purchaser and the property’s seller.

Some important tips to keep in mind to streamline the process:

Keep written records of everything. For the sake of clarity, it will be extremely useful to transcribe all verbal agreements, including counter-offers and addendums, and to convert them into written agreements to be signed by both parties. We will assist you in drafting all the paperwork for your purchase and make sure that you have copies of everything.

Stay On Schedule. Now that your offer has been accepted, you’ll be given a timeline for every stage in the closing process. During the process, we will keep you constantly updated so you are always prepared for the next step.

The Closing Agent

Either a title company or an attorney will be selected as your closing agent, and they will hold the deposit in escrow while they complete the property history research to ensure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title.

Property Inspections

Once the seller accepts your offer, you’ll need to have the property inspected by a licensed inspector within the time frame that was outlined in your contract.

You may choose to have different inspections completed on the property if you wish to obtain professional opinions from inspectors who specialize in specific areas (roof, HVAC, mold).  We can recommend several different inspectors if you don’t already have one.

Depending on the outcome of these inspections, one of two things may happen:

1. Each milestone is successfully closed, and the contingencies will be removed, bringing you one step closer to the close 

2. The buyer, after reviewing the property inspection report, can request a renegotiation of the terms of the contract

Appraisal and Lending

It is critical that you keep in close communication with your lender.  They will let you know what, if any, additional documents are needed to receive final approval your loan application and fund your loan.  If the buyer is obtaining a mortgage, the property will need to be appraised by a licensed real estate appraiser to determine its value for the lending institution.

Tip: When you are within two weeks of closing, check with your lender to ensure the loan is approved and the closing date looks good

Homeowners Association Approval

If the property that you are purchasing is conditional upon an association approval, request the rules, regulations, and other important documents from the seller as soon as you have an effective agreement to purchase. Make sure that the application documents and processing fees are submitted to the appropriate person at the association by the required time. Fill out all of the information completely and legibly so there is no delay in processing the application. If you are required to meet with the association for your approval, make an appointment as soon as possible for the interview. Most associations require a certificate of approval before move-in. Your closing agent will request that the original copy of this approval letter be brought to the closing, so that it can be recorded with the deed in the county public records.

Secure Property Insurance 

If you are obtaining a loan, you will be required by your lender to purchase a certain amount of insurance on the property. The value will depend on the lending institution and the purchase price of the property.   If you don’t already have an insurance professional, I’d be happy to recommend experienced knowledgeable insurance agents for every property type.

Final Walk-Through Inspection

More of a formality than anything else, the final inspection takes place a day before or the day of the closing. You’ll visit the property to verify that everything is in working order, the same as when you last viewed the property, there are no extra items left behind, and that everything included in your purchase is still at the property.

Home Services and Utilities

I’ll provide a list of useful numbers for the activation of home services and utilities after the closing occurs or you can visit the Resources Page of our site for this helpful information.

Be Prepared

I’ll be there to assist you should an unforeseen issue that arise, even at this last stage. Whether something at the property breaks or some other minor details need to be completed, you won’t have to worry.  I’ve experienced these issues before and know how to handle them quickly so there is no stress added to your closing process. 

Closing 

The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. 

You and the seller(s) will sign this statement, as well as the closing agent, certifying its accuracy. If you’re obtaining financing, you will have to sign all pertinent documentation required by the lending institution. If you are bringing funds to the transaction, you can elect to either have the funds wired electronically into the closing agent’s escrow account or bring a certified bank check to the closing in the amount specified on the settlement statement.  The seller will arrange to have all property keys and any other important information for you at the closing so that you leave the meeting with everything you need to move into your new home.