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We want your business!!!
Buying a home can be stressful, but it doesn't have to be! I’ll work hard to make your experience exciting and fun. While we are working together I’ll be like your new best friend! I promise to help you:
 Save Money!
I’m going to look out for you and make sure that you get the best deal.
 Save Time!
I’ll take care of the details, so you don't have to!
Stay Informed!
I will be available to answer any questions you may have during the process.
Close On Time!
You can be confident that we will close on time and every detail will be checked for accuracy.
Whether this is the first time you have bought a home, or your tenth, I believe that it important to understand the steps involved!
Here is the step by step guide. But please don't feel like you need to understand everything right away. There wont be a test! And I will be there for you every step of the way.
Step 1: GET PRE-APPROVED
Choosing the right lender and obtaining pre-approval or pre-qualification is absolutely the most important step in the purchase process! In today’s market, being pre-approved for a loan can be the difference between getting your dream home, and losing it to another buyer. T
he seller will know you can afford their home, and you will avoid the painful process of falling in love with a home, only to find out that you can’t afford it.
The pre-approval process is quick (usually less than half an hour) and most lenders will do it for free. Most will even pre-approve you over the phone or online.
Talk to a lender you trust, or call me for a referral, but do it before you start shopping so that you will be ready to go when we find the right house!
Be sure to ask your lender to mail or fax to you a Good Faith Estimate. This will break down the lenders charges for the loan and will enable you to compare their fees to those of another lender.
If you not satisfied with the response from the first lender you contact, I encourage you to get a second opinion. Please feel free to contact me for a referral to a trustworthy lender.
Once you have been pre-approved for a loan it is critical that you do not make any major purchases or changes in employment. This will have an effect on your ability to obtain a loan once you find the right home.
Contact me
if you have any questions regarding getting pre-approved or pre-qualified for a loan!
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Step 2: REVIEW A PRELIMINARY MLS LIST
We will work together to determine the search criteria for your ideal home!
Be sure to click here to search all the homes for sale in the Richmond Metro area. This system will give you access to the same MLS data that Realtors® use! You can select properties as your favorites and obtain important information regarding each listing, including school information.
If you pefer, I am happy to do all the searching for you! Just contact me so we can discuss your ideal home.
I recommend that you pick six properties as your favorites and consider driving by some of the properties first to make sure you are comfortable with the neighborhood and the curb appeal.
Please contact me with your opinions (good or bad!) on the listings we find. This will help us narrow down your geographical, architectural, and other preferences, while giving you a good idea of what is available.
Once we have your ideal home defined, we will set up a system so that I can notify you immediately anytime a new property comes on the market that meets your criteria, or there is a change (such as a price reduction) to a listing already in your list.
If you happen to drive by a home that looks interesting, and would like more information, contact me with the address and I will be happy to send you all of the listing information!
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Step 3: FIND YOUR DREAM HOME
We’ll go shopping and find the right home for you!
I am proud of the fact that I really listen to my clients. I won’t waste your time showing you homes that don’t meet your needs.
And I will show you only the homes that are in the price range that you have selected.
You can take all the time you need to find the right home for you and your family. And when you do, I will negotiate aggressively to obtain the best price for your new home.
This is the fun part! Just let me know if you have any questions regarding this step of the buying process.
Step 4: MAKING THE OFFER
Once we find the best home, we’ll will work together to write up an offer!
Here are a few things to keep in mind when considering your offer:
Some people fall in love with a particular home, while others find several that could work. While there is nothing wrong with either approach, keep in mind that falling in love with a home may limit our ability to negotiate the best deal for you. The number one rule in negotiating is that the person who needs the deal the most has the least power!
Keep in mind, however, that price negotiation in this market is limited as the average home sells within 1 to 2 percent of the list price and sellers know it!
I will provide a detailed market analysis on the home you choose so that you can have all the info you need to make the best possible decision.
If the property is priced right, we may need to move quickly!
We’ll need to provide an earnest money check with the offer. This is our “good faith” deposit that tells the seller you are serious about the offer. It is typically about 1-2 percent of the sales price and is credited back to you at closing.
The offer to purchase is a legal document that is approximately 7 pages long. We will be going over every paragraph so that you know exactly what you are committing to do. This will take 30 mins. to 1 hour depending on how many questions you have.
Most likely, you will want to make your first offer the best offer possible. If the sellers counter the offer with a higher price, you can always refuse. You don’t have to increase your price, but it’s nice to have the choice before the seller finds another buyer.
Remember, I will be there to support you during this very important step!
Step 5: NEGOTIATE THE CONTRACT
If the offer is accepted, you and the seller are under contract and the earnest money is deposited into an escrow account.
However, your offer may not be accepted as is, even if it is full price. Other factors come into play (closing date, contingencies, earnest money, etc.) and the seller may want to make some changes. This is done through a counter offer. If a counter offer is issued, we will review it and determine if it is in your best interest to accept. If so, you will then be under contract and the earnest money will be deposited. If not, we will probably do some verbal negotiating to see if we can come to an agreement, then draft another new agreement or request a new counter offer. Once all parties agree to the counter offer, you are under contract!
Time to celebrate!
Once we complete this step, we have gotten past one of the most important stages in the process.
As always, let me know if you have any questions on this or any other step!
Step 6: CHANGES TO THE CONTRACT
The contract represents the entire agreement between you and the sellers. Of course, there can be no written or oral side agreements.
Changes may be made to the contract, however, if all parties agree and everyone signs the appropriate document.
Don’t worry, I’ll be there to guide you if we need to make a change to the contract!
Step 7: INSPECTION PHASE
This is the phase where we try to learn everything about the house that we might object to and didn’t know when we made the offer. The seller and listing agent must disclose all material facts they currently know about the house and inclusions.
They will provide this information on the Seller’s Property Disclosure
,and Lead Based Paint Disclosure.
I’ll help you sort thru these documents to find important facts about the property.
You will want to hire a professional home inspector. This is the best $250-350 you can spend! The inspector will go through the house from top to bottom looking at all major systems (roof, plumbing, electric, furnace, water heater, etc.). Inspectors issue a report on the “health” of the house. Of course, you also have the right to inspect the home yourself.
Inspectors usually require payment at the time of service. This is one of the few things you will pay for prior to closing. Call me to obtain information on some inspection company!
If the results of this research cause you to want to terminate the contract, you have the right to do so at your subjective discretion - unless you have otherwise waived the right to object. Of course, I wouldn’t recommend you waive this right!
I will help you schedule the inspection and will attend the inspection with you. Since the inspection can take up to 3 hours, most people choose to meet the inspector at the end of the inspection process. The inspector will provide a typed report and take you back through the property,pointing out his or her findings.
Let me know
if you have any questions regarding this important step!
Step 8: INSPECTION ISSUES AND RESOLUTION
If the inspection raised issues that you want the seller to address, you may
object
to the condition of the property or inclusions.
This is an entirely different negotiation process and can sometimes be more emotional than the original contract negotiation.
Remember, the purpose of this step is to
address any major system or safety issues. It is perfectly appropriate to ask the seller to correct a broken furnace or leaking pipe, for example. But you are not trying to make the property new again. So it wouldn’t be appropriate at this stage to request paint touch ups or decorating changes, for example.
The seller is under no obligation to resolve anything, but most of the time we can reach an agreement that is acceptable to both parties. If an agreement cannot be reached, you may withdraw your inspection objection and the contract will remain unchanged. Or you may choose to terminate the agreement which happens automatically one day after the inspection resolution deadline has expired.
Don’t worry! This step can sound a bit scary, but I’ll be there to negotiate on your behalf!
Step 9: APPRAISAL & INSURANCE
If you are getting a new loan to purchase the house, the lender will order an appraisal. Although the cost (paid at closing) is about the same as the inspection, these are two very different things.
The purpose of the appraisal is simply to verify, for the lender that the house is worth the sales price. Most of the time, this is just a formality, but if the house does not appraise at the price you are paying, you may elect to terminate the contract, or we can attempt to negotiate a resolution with the seller.
You will be required to obtain Home Owner’s Insurance in order to close on your new home. Be sure to secure insurance with a reputable provider. Call me to give you some
Home Owner’s Insurance provider! or you can call your Car Insyrance Provider, and see if they offer Home Owner's Insurance.
Step 10: LOAN COMMITMENT
As the buyer, you are obligated to work diligently with the lender to provide whatever documentation is necessary to obtain Loan Commitment by the Loan Commitment Deadline defined in the contract. Loan Commitment is a written document from the lender committing to funding the loan for the purchase of the home. Your lender will provide a loan commitment letter once they have completed the entire underwriting process.
If you are unable to obtain loan commitment, we wll notify the seller in writing on or before the Loan Commitment deadline. The contract will terminate and your earnest money will be returned.
I will keep in very close contact with the lender to make sure we have loan commitment on time!
Step 11: PREPARING FOR THE MOVE
There is much to be done before the moving day arrives. It’s always best to, plan ahead and prepare yourself and loved ones in advance.
I will provide a moving checklist to help to make your move a smooth one!
Just let me know how else I can help you get ready for The Big Day!
Step 12: THE CLOSING
Woo hoo! This is the meeting at which all documents will be signed and the deed to the house will be transferred to you, the buyer.
This process usually takes approximately 1 ½ hours if all parties are in agreement and there are no unresolved issues.
Everyone signing must bring adrivers license or a picture ID. I will notify you about 48 hours prior to closing of the exact amount for the cashiers check required for down payment and/or closing costs. The sellers will bring all keys, garage door openers, documentation, receipts, etc. to the closing.
I will work dilegently to make sure we close on time!
Step 13: POSSESSION
By tradition, possession of the property is turned over to the buyers on the day of closing, but is sometimes 1-3 days after closing, giving the seller time to move once they are assured that the transaction is completed.
This timeframe is, however, defined by the contract and is part of the negotiation process. If you are selling a home of your own, you may have wanted to offer a shorter timeframe, because you will have to move before you can to give possession to your buyers.
We will discuss the ideal possession date in detail as we are preparing the offer so that we can negotiate the best terms possible!
Contact me
with any questions regarding possession!
Step 14: AFTER THE SALE
Believe it or not, most buyers and sellers don’t even remember who their Realtor® was two years after their closing! It is my mission to provide the highest level of service before and after the sale. I hope you will feel free to contact me anytime with questions or concerns after you have successfully purchased your home.
Your support through referrals to your friends and family members is the heart of my business.
You will be amazed, now that you are planning to buy a home, how many of your friends, family and co-workers will tell you that they too are thinking about buying or selling a home. So, don’t be shy! Let them know that I can help them too!
If you have a comment or question regarding these buying steps, please feel free to complete the contact form below.
I look forward to hearing from you and helping you with the purchase of your next home!
And if you have a home to sell first, be sure to check out the steps involved in the Selling Process.
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