Choosing your Realtor.
Perhaps the most important decision that a Buyer will make before buying a property is choosing a great Realtor to represent your best interests.
Your Realtor shall help you to find your home under the best possible terms but not only finding it, but throughout the entire process even after the closing day.
Your Realtor shall explain you the process even before beginning the search for your home, like getting Pre-Approved for a Mortgage if you will be financing your home, Home Inspections, Title Company and Insurance to name some of the activities to be familiar throughout the transaction.
Your Realtor should:
- Be a seasoned Realtor able to capture your needs and desires that you have to Find the Right Home for You and Your Family.
- Negotiating the best price and terms for you and Making an Offer.
- Have knowledge with the Financing and the Loan Process (Application with all the necessary supporting documents, Loan Approval (Underwriting), and Closing!
- Be familiar with the communities that you are interested in.
- Be aware of the requirements affecting the transaction if you are an “Out of the Country” Buyer.
- Backed by a Solid Real Estate Company.
Finding the Right Home
Based on the criteria that you and your Family have in mind (location, number of bedrooms and bathrooms, size, number of stories, lot size, schools, etc.), your “Dream Home”, your Realtor using his or her experience and knowledge combined with the best searching tools and after showing you few properties, should be able to find you the perfect Home for you and for your Family.
Making an Offer
Once you have found your future Home, your Realtor shall apply his or her knowledge to present the best offer in writing to the Seller, focusing on the most important points for you: Price, Deposits, Inspection Periods, Closing Time and any other Special Clauses.
Your Realtor shall explain to you the clauses and obligations on the Contract for Sale and Purchase so there are not surprises or false expectations, then he or she shall present the Contract for Sale and Purchase on your behalf, using his or her negotiating skills to get you the best Purchase Price and Terms.
Once the Contract for Sale and Purchase has been executed and accepted with all its addendum by both parties, then the very important Closing process begin, coordinating the communication with the Lender, the Insurance and the Title Company making sure that all the clauses of the Contract are taking care and done, and walking with you with you step by step along the way throughout the Closing Day!
A great Realtor will help you to select the best Loan Officer because he or she will:
- Obtain for you the best Loan program that fits best for your needs.
- Get you Pre-Approved for a Mortgage so you will know the maximum Purchase Price that you can afford once you find your Home!
- Tell you approximately what your monthly payments will look like.
- Tell you how much Down Payment you will need and give you a Goof Faith Estimate of the Closing Costs.
The “C” day is finally here, the wait is over!
The Closing Day is when Sellers and Buyers sign all the necessary documents like the Warranty Deed, the Closing Documents and the Mortgage Documents (Buyer) among the most important ones to make official the transfer of the property, the Closing Documents and the Closing Costs should be reviewed to ensure that the Purchase of your New Home is in accordance with the Contract for Sale and Purchase signed.
This is a very simplified explanation of the whole process from before the beginning of the search for your Home until after the Closing Day, which should be explained even further in more detail with by your Realtor.
After the Closing Day
Your relation with your Great Realtor doesn’t ends on the Closing Day at the Closing Company, because he or she will be happy to help you from the moving process to any recommendations with upgrading your New Home and services that you might need after you have settled in, earning brownie points to make you a “Raving Fan” for an Amazing Job Well Done!!