A simple guide to the home buying process

 

Buyer consultation                    

 Lets meet to discuss your home buying options & needs.

 It’s like Real Estate 101 in about one hour.

5 benefits of using a Realtor

 

Learn about the Agency Laws in Maryland 

Which agent do you need:   Buyers agent,   dual agent,   Sellers agent,    Cooperating agent.    A buyers agent is always preferred if you are buying a home.

View the State of Maryland agency information

 

Apply for your loan early.   (get your ducks in a row)

Which loan approval is best?  Pre qualified, Pre approved, Approved,  Loan commitment,

Professional lenders make it relatively easy.  Others charge too many points, and many do not have your loan finished until the day before settlement (Stress)

8 ways to improve your credit  &  5 ways to increase your Fico score

10 things a lender needs from you

 

What are the current market conditions? 

The market is balanced with a slight edge for sellers.  Great homes are usually selling for full price or more.   Well priced and appointed homes will get multiple offers.  Especially in down county neighborhoods.  The  listing inventory is on the low side.  In 2013 we could see a slight shift to a sellers market.   Many economic forecasts predict normal appreciation for 3-4% for the next 4-5 years. 

10 tips for 1st time buyers

10 ideas to make home buying less stressful

 

It is time to look for some listings online.

Use the Homesdatabase.com  search link to look at all the homes.       

Most Realtor databases contain the same homes.  Identify neighborhoods & home styles you like.
We can E-mail you new listings as soon as they become available.  We will input your needs into my custom software package.  Each day our software will scan the Realtor’s MLS for homes that fit your criteria.  It will send you an E-mail each time a new listing meets your needs.

Tips for finding the almost perfect neighborhood

Here is a sample property wish list

 

Lets checkout some homes! 

Most buyers will look at 8 - 15 homes over a period of 1-3 months.

We will try to help you find several neighborhoods that you like.  Then, we will look each house in that neighborhood that is in your price range.

We will always give you my professional opinion on each home and lot.  You’ll get the pros & cons of each home.  Then, of course, it is your decision.  We try to be an real estate advisors, not a pushy sales person.

Lets review the recently sold homes in the neighborhood.  We call these the comparables or  comps.

Don’t forget these important disclosures in MD

5 Common 1st time buyer mistakes

 

We have found the right home.  It’s time to write the offer

Lets strategize and negotiate the best price, terms & conditions

We will advise you on important contingencies to include in the offer

Don’t forget to include the inspections important to you:

Home,    Radon,    Lead paint,    mold,   

10 Questions to ask the Home Inspector

 

You’ve got a contract on the home!   Now lets check it out

We do the inspections in the beginning.   The buyer pays for all inspections.

We will negotiate with the seller to repair the major systems & appliances that are not functioning properly.

Hidden defects to watch out for.          

 

Here are some of the final steps of the process

Your lender sends an appraiser to make sure you are not over paying for the home.

Give your lender any final papers they need.

Pick a Termite inspection company.  We will always have 3 good referrals for you.      

A termite looks like a grain of white rice with legs, during most of it’s life cycle.

Ask your insurance agent to send a copy of the homeowners policy to the lender.

10 Ways to lower your home insurance

 

It is time to go to settlement (also known as )closing.

We will do a final walk thru to make sure the home inspections repair’s were completed

Settlement takes about 90 minutes.  Now you are a homeowner!

You can move in right away

Pre-settlement walk-thru checklist

 

Don’t forget, If we are your buyer’s agent, I’m  representing your interests during the purchase.  If we don’t know the answer to a question,  we will suggest other experts in that field who can advise you.