How Do I Buy A Property?

01 Assemble the Team.

Hire my team or whichever agent you connect with. In many cases, especially if the property is in another state, you will be working with more than one agent. My team and I manage these types of processes frequently for clients and can facilitate the process for you. You will choose a lender. We can refer you to lenders, or you can get referrals from other people. Later in the process, we will bring on various inspectors to make sure the house is in a condition you are satisfied with, along with title and escrow officers to facilitate the paperwork and filings.

02 Do the Groundwork.

Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying cash). We can connect you to a lender we have had successful closings with in the past, or you can work with any lender you choose. Based on your income and credit history, the lender will determine how much a bank will lend you, which will help you determine the price range for your search. For more information on what a lender looks for to approve you for a loan, click here.

03 Look at Properties

Let’s go look at some houses! You will send your team properties, your team will send you properties, and we will coordinate showings that meet your criteria; and maybe a few that don’t, but have potential. These appointments could be a mix of open houses and private showings. Sometimes we will be with you, sometimes you will go on your own and we will discuss afterwords. You may be surprised how much your priorities and perspectives may change once you start walking floorplans and picturing life in different neighborhoods. It’s always a good idea to keep an open mind during this phase.

04 Offers + Inspections

Once you identify a home you like, you can put in an offer. This offer is packaged with a Proof of Funds (POF) and the PreApproval Letter from your lender. Note: if there are multiple offers or your offer is not acceptable to the seller, the seller will likely return with a counter-offer price or acceptable terms, which you can accept, reject, or make another counter-offer. Your team will guide you throughout the whole process. You’ll have full support as it’s the buyer’s duty to order all desired home inspections and determine the overall condition of the property within the agreed timeline and contractual contingencies. You will also review the seller disclosures and preliminary title report. You may approve or negotiate credits/repairs, and your team will facilitate this process as you make these decisions. The lender will send out a neutral third-party appraiser to perform an appraisal to determine the value of the property.

05 Escrow + Closing

Once the lender has received all the information they need about the property and everything else they need from you, if everything meets their guidelines, they will issue a full loan approval. Usually five days before closing, a final walk-thru of the property occurs to verify the property is still in acceptable condition and any negotiated repairs were done. The loan funds, it records at title, escrow closes, and you get keys! Closing is a three day process, and we never know what time recordation will occur on the final day, so we’re all on pins n’ needles on closing day, but the second we get confirmation, you get KEYS!

Let’s work together.

I am happy to be on your team or point you in the right direction.