Buyer Guide

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully.

Why Do You Want To Buy?

Are you tired of paying rent? Have you outgrown your current home? Are you looking for an investment property, a larger yard, a different area, or a shorter commute? Having a clear sense of your reasons for buying will help you choose the right property.

Has Your Income Grown?

Property ownership is an excellent investment — whether you are looking for your dream home, a rental property, or to expand your portfolio. Owning real estate is one of the least risky ways to build equity or obtain a greater return on your initial investment.

Build Your Green File

A green file contains all your important financial documents. You will need it to secure financing. It typically includes:

• Financial statements
• Bank accounts, investments, and credit cards
• Auto loans and recent pay stubs
• Tax returns for two years
• Copies of leases for investment properties
• 401K statements, life insurance, stocks, bonds, and mutual funds

Check Your Credit Rating

Your credit score will have a huge impact on what type of property you can buy, and at what price. Check your credit with an experienced lender so we can determine what you can afford. I’m happy to recommend knowledgeable lenders.

Be Careful With Your Finances

Now is not a good time to make sudden career changes or large purchases. Approach your property purchase from a position of financial stability.

It helps to have an expert in your corner when undertaking such a large purchase. Here are some factors to consider when choosing your real estate professional:

• Look for a full-time agent with experience in transactions like yours.
• Make sure they are familiar with the area you’re interested in.
• Ask how much time they will have for you, and their availability.
• Ask about their credentials, education, and designations.
• Confirm they return calls promptly — time is money.
• Choose an agent who listens attentively and makes you comfortable.

Take a Drive

Get to know the neighborhoods, complexes, or subdivisions that interest you. Drive around and get a feel for what it would be like to own a property in the area.

Narrow Your Search

Select a few properties that interest you the most and we’ll make appointments to visit them, discussing the potential long-term resale value of each.

Time to Buy

Once you’ve picked the property you want, I can help you make an offer the seller will accept — investigating potential costs and drafting your offer in a way that gives you the advantage.

The Initial Agreement and Deposit

Keep written records of everything and stick to the schedule. Meeting each milestone on time ensures a smoother flow of negotiations. I’ll keep you constantly updated so you’re always prepared for the next step.

Inspections

Once your offer is accepted, you’ll have the property inspected within the agreed time frame. Depending on the outcome, contingencies are removed or the terms are renegotiated.

Appraisal and Lending

Keep in close communication with your lender. If financing is a condition, the property is appraised by a licensed appraiser to confirm its value for the lending institution.

Property Insurance

If you’re obtaining a loan, your lender will require insurance. Consider a higher deductible, ask about discounts for safety features, and insure the house — not the land under it.

Final Walk-Through Inspection

The final inspection takes place a day before, or the day of, closing. You’ll verify that everything is in working order, unchanged, and that all items included in your purchase are still at the property.

Home Services and Utilities

Arrange to have your utilities transferred and services connected so your new home is ready the day you move in. Congratulations — welcome home!