Pre-qualify with a lender

You will know in advance what your payments will be.

You won’t waste time considering homes you can’t afford. 

You can select the best loan package without being under pressure. There are many options to choose from in today’s market. 

Sellers may find your offer to purchase more favorable if they know in advance of your ability to secure financing. This may make your offer more competitive if you are in competition with other offers. 

You’ll have peace of mind by being prepared to close on your house on time. 

High-tech home search

You may have already looked online for your new home. An online buyer’s conference with Andrew allows you to see exactly what the Realtors can see. This is a great way to kick off your home search. Andrew also understands when you are shopping for something as big as a new house, you can never shop enough.  AskAndrewAdams.com is a great place to start your online home search.

New technology enables home buyers to preview homes on their computers. This preview or virtual tour is made available on the Internet, accessible from your computer and even your smart phone. You may find that before you actually drive by or even go into a home, you can qualify or eliminate a home by looking at the online photos.

Hit the road

Once you have narrowed down your search to a handful of homes you are ready for the next step. 

By driving by, looking at maps, and viewing online photos, you have eliminated any choices that would have been a waste of your valuable time to see from the inside. 

Andrew and his team will make appointments with the home owners on a day that fits your schedule. Now you can see your top choices in person. Driving by is great for checking out neighborhoods and the location of a home, but nothing beats going inside. 

Getting “the inside story” will help you further narrow down your choices until you have found the house that is right for you. 

Write the offer

Now that you have found a home you think you want, it’s time to write an offer. Getting the seller to accept your offer will depend on the price and terms you are willing to agree on. In real estate, everything is negotiable. Andrew will coach you on the details but the most important thing to consider is usually the price.

The paperwork you will write your offer on is the same document that will dictate what happens all the way up to closing. You will include details like the price, when you want to take possession and whether or not the refrigerator is included as part of the transaction. The buyer has the most risk in a transaction because the seller simply takes their money and leaves. The state approved contract protects buyer’s rights and gives opportunities to carry out due diligence before money is exchanged. And finally, everything in real estate should be done in writing. The real estate purchase contract, combined with Andrew as your representative, is an effective tool that will help get you what you want. 

Earnest Money

Typically $1,000 shows the seller that you are a serious buyer. This money is held in escrow or trust under your name until you close, and counts as part of your home’s down payment. This money needs to be delivered to the title company within 4 days after a written offer gets accepted. 

Negotiating

You’ve looked at the home’s features, asked questions, checked comparable homes, and talked with Andrew. You should have a good idea of what the home’s value is in the current market. You have considered what you can afford and have made an offer that you consider to be fair. The seller now has one of three options when considering our offer. 

Reject: No one really every rejects a reasonable offer. The seller is usually happy to have an offer. 

Acceptance: This is exactly what we want. 

Counteroffer: This is the most common response for a seller to give. Counteroffers can go back and forth between buyer and seller until both sides agree. 

Under Contract

Congratulations! 

You have just put a home under contract and the status is also referred to as “sale pending”. This means the seller cannot sell it to anyone else. It also means you can now spend some of your time and money testing and inspecting the home before you actually buy it. 

Typically, the time between going under contract and closing is 30 days. 

Due Diligence

Home Inspection 

It’s easy to make sure the home you’ve chosen is a smart buy. By having a home inspection, the home’s vital systems are checked. A home inspection allows you to purchase your home with confidence. Andrew will help you set one up after you have chosen the home you like. We recommend the following minimum standards when choosing an inspector:  1. Membership in ASHI (American Society of Home Inspectors) and adherence to its Standards of Practice and Code of Ethics.
2. Written report at the time of inspection.
Cost for a home inspection is typically $500 and is paid for by the buyer directly to the inspector the day of the inspection. 

Appraisal 

Your lender will order an appraisal on your the home. This is done to make sure the home is worth the price we have negotiated. This is paid for by the buyer and in included in your closing costs.

Sign on the line

When you wrote your offer purchase, you and the seller agreed on a day to settle the transaction. As your loan is finalized and all your inspections are completed, you will be ready to sign papers to meet the settlement deadline. This process happens at a title company. 

Your closing will consist of signing papers regarding your loan and giving the title company a deposit for any down payment that has previously discussed and agreed upon.

Funding and Recording

After you have signed all the paperwork at the title company, a few things happen behind the scenes. The seller signs similar papers at a title company. Your signed papers get sent to the lender providing you the loan. After being reviewed, the money is released to the title company and immediately following receipt of the money, the home is taken out of the seller’s name and recorded into your name at the county offices. At this point, you are the legal and proud owner of your new home.

Getting the keys

Once the property is funded and recorded into your name, Andrew will meet you at the house and hand you the keys to your new home. Welcome home!