Financial Obligations
Meet all money deposit deadlines and apply for a loan as soon as possible. If needed, ask for extensions, but don't miss a deadline and jeopardize your deal.
Your New Home
Home Inspection
A home inspection is critical protection for buyers, even in competitive markets whether you include it as a contingency or for informational purposes only.
The Appraisal
A professional appraisal serves to ensure that your home purchase is worth it. If it comes in high great, if it comes in low, I will help navigate any appraisal gaps.
The Ultimate Goal
Once the Purchase Agreement is signed most of the tasks needed to prepare for the actual closing fall on the buyer. Our shared goal is to bring all parties to the closing table and have a smooth transfer of the home from seller to buyer.
Financial Resources
Understanding your financing options is crucial to successfully purchasing a property. While cash purchases represent a small percentage of real estate transactions, they offer distinct advantages. Buyers with access to private funds enjoy streamlined closing processes and stronger negotiating positions.
The vast majority of real estate transactions involve some form of mortgage financing. I have relationships with reliable mortgage lenders and I keep up on all the special programs that are offered such as 1st time homebuyer programs. Buyers making an offer using financing, should be prepared to make a loan application. If you make a cash offer, you will be required to show proof of funds.
Home Inspection
You choose the professional home inspector and schedule them within the contract deadlines. A home inspection report gives you detailed insight into the property's condition. The inspector will examine structural elements, electrical systems, plumbing, HVAC, roof, foundation, and more.
It is recommended that you attend the inspection to see problems firsthand and ask questions. If significant issues are discovered, I will help you prioritize which repairs you request the sellers make and how to negotiate repairs versus credits. Even in a competitive market where you might waive inspection contingencies, getting an informational inspection protects your investment by identifying hidden costs before you commit.
The Appraisal
Both you and your lender should be concerned about the appraised value of the home you intend to purchase. A professional appraisal ensures neither of you is investing more than the property is worth. When an appraisal comes in low, there are several options to consider.
I can work with the appraiser to provide additional data that might have been overlooked in the initial valuation. Depending on the shortfall amount, you may decide to renegotiate your offer with the seller. If you choose to move forward with the current offer, be aware that you may need to cover the difference in cash at closing. Throughout this process, I will help navigate any appraisal gaps with sound solutions tailored to your situation.
The Closing
Details, Details, Details - this is where a good agent's guidance pays off. I am your lead transaction manager for your closing and she excels at working with inspectors, appraisers, loan officers, title clerks, and co-agents.
The Final Walkthrough
The buyer is allowed a final walk-through the day of closing. Be prepared to check that all repairs agreed on as part of the post-inspection negotiations have been completed and the sellers can show proof, receipts or inspections. Make sure that the sellers have completely vacated the premises, left no trash, and the home is broom clean. If there are any issues you can delay the closing.
Title and Docs
It's crucial that all parties carefully review the legal and financial documents related to closing before the actual closing date. Buyers have more engagement because they are purchasing the property. I will explain in great detail all the numbers, accounting, and specifics of signing the closing docs.
Never hesitate to ask me or the title clerk for clarification - this is a significant transaction, and you should be comfortable you understand every document you're signing. After signing all the papers, it is time to receive the keys to your new home. Congratulations!
What Can Go Wrong!
At this point in the final process, you can rely on my experience, attention to details, expertise, and relationships with all parties to ensure nothing goes wrong. In the rare case that an issue might derail the closing, I am your best problem-solver. My calm approach and deep understanding of real estate transactions enable me to navigate challenges effectively and guide the deal successfully to the finish line.
Moving Advice
Jenn has a standing recommendation. Try not to move on the same day as your closing. Moving companies don't always show up on the date contracted so plan your move to give yourself enough time to meet any contingency. If there is a problem at the closing, the last thing you want to worry about is your moving truck showing up. You do not own your new home until all the papers are signed and the funds have been transferred appropriately.