FINDING EXPERT ADVISORS
Did you know that the average agent sells only 8 homes per year? Did you know that 45% of real estate agents spend less than $500 per year on training and professional development. These are the facts, so how do you know if your agent is an expert when it comes to helping you buy a home. Obviously, there is way more involved with finding your ideal home, but most of the time, the problems that arise during the buying process starts at the beginning.
By determining buyers' expectations, needs and wants, and comparing them to what the market is showing, an expert will help find the ideal home for you. However, it is important to understand how an agent will be able to identify these factors. When deciding on an agent that will guide you through the process, ask the necessary questions and ensure you are comfortable with their response. An expert advisor will be able to determine timing and motivation, expenses and finances, lifestyle and community profile and provide a customized plan that fits your needs as a buyer.
YOUR REAL ESTATE INVESTMENT & RESPONSIBILITY
Everyone needs a home, however, one cannot overlooked the importance of real estate as both an investment and a home. You simply don't want to live to just live, but rather build capital with something tangible, valuable and essential to life. This investment comes with a lot of responsibilities and it is always the job of an expert advisor to ensure you are fully educated when it comes to the responsibilities of a home owner. Questions such as "what are the future maintenance costs? What is the length of a home warranty and what does it cover? What will my living costs be based on location of the property or proximity to amenities, services, and work? Your lifestyle choice now may differ in the future and it is the job of an expert home advisor to raise these questions and hopefully help you provide answers for them.
FINDING THE IDEAL HOME AT THE IDEAL PRICE
Our agents make it possible for you to find an ideal home that fits your situation for an ideal price. There may be some compromises along the way, but ultimately, the most important factors will determine the overall success in helping you find the home that best suits you. Throughout the searching process, many questions will arise. Common preferences are floorplan/ layout, local amenities, schools, crime level, demographics, quality of life, price range, age of home and more. These preferences should always be taken into account by your agent to speed up the process and allow you to find the ideal home sooner rather than later.
There is far more information of the buying process, however, this is a small sample size of the buying process. Certainly, reading this won't help you make a decision on whether or not you are prepared to buy a home, but it may point you in the right direction and provide you with a little bit more understanding of the process, the questions you should ask and what you should expect from an expert advisor. Remember, if they're not experts, than they're not qualified to help you find your idea home.
ARE YOU READY TO BUY?
You’re ready to buy - or maybe you’re just ready to start seriously thinking about buying. There’s a lot you can do to prepare. With so much information available at your fingertips, you may already be doing a lot of your own research. Here are a few things to keep in mind while you get started.
Determine Your Priceline
The best place to start when buying a home is to find out how much house you can afford. An Agency Home Advisor can refer you to a loan officer who can assist you with determining how much of a down payment you can afford, along with a monthly payment you are comfortable with, and the type of loan that fits your needs best. Serious buyers who are highly motivated should go through the effort of getting pre-approved; not only will this allow you to focus your home search, but it will also position you as a serious buyer in the eyes of sellers when the time comes to make an offer. To learn more about this process, contact Diana Dorais, our financial advisor and broker.
Make a List and Prioritize
Imagine your ideal home in the ideal community. Now make a list of everything you imagined. Take that list and prioritize from high to low. High-priority items are the things you cannot live without in your new home. Lower priority items are those that are an added bonus, but not necessary. Your list can include things such as: number of bedrooms, need for a yard, style of home, and access to schools and shopping.
Tour Homes in Person and Online
Some people look at several homes before finding just the right one. And others find “the one” immediately. Thanks to the Internet, you can stream-line your search process significantly by checking out homes for sale online. You can visit open houses and preview everything that’s for sale in your market. Click here to start your home search.
Choose a REALTOR® That Has Your Best Interest in Mind
Real estate agents come in different shapes and sizes. They also have different mentalities. It is important to make sure that your agent is looking out for you and not simply for themselves. It is important that you, the buyer, feels comfortable during the whole process and that all your questions are answered, your requests are met, if possible, and there is never a breakdown in communication. It is essential that your agent is exactly that; your agent, and is working hard to service you in the best way possible.Click here to find an agent that fits you.
THE BUYING PROCESS
You’ve found the home you can see yourself living in, now what? There are several steps to the buying process you will go through before you can officially call it your own.
<h3">Purchase and Sale Agreement
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.
Once a buyer and seller reach mutual acceptance on a property, a home inspector is hired to investigate every nook and cranny to determine if the home is in need of any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
Whether you’re a buyer or a seller, negotiation is the key to getting the best deal. Negotiations can involve everything from settling on a sales price to concessions and financing. Agency Home Advisors are expert negotiators whose job is to represent your interests during the give and take of a real estate transaction.
You may already be pre-approved, but now that you’re closer to the actual purchase price, you’ll be working more in-depth with your lender on your final loan approval. To learn more about this process, contact Diana Dorais, our preferred financial advisor and broker.
At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded. Prior to closing, you’ll receive a settlement statement outlining any fees which may apply to you. After closing is finalized and recorded, the home is yours.