Selecting A REALTOR®
Your Real Estate Professional should be:
I will assist you in getting pre-approved for a mortgage. You can pick your own mortgage professional or I am happy to suggest someone. You are in control, but you have to be pre-approved so that if you are lucky and the first home we see is the one your heart desires then we can make an offer on it so that you don’t lose out on that home.
The Loan Process
Application - All pertinent documentation is obtained. Fees and down payments are discussed, and the borrower will receive a Good Faith Estimate (GFE) and a Truth-in-lending statement (TIL), itemizing the rates and associated costs for the loan.
You will be asked to provide certain documents to your lender in order that your loan can be processed in a timely manner.
Loan Submission - Once all the necessary documentation is in, your completed file is submitted to a lender for approval.
Loan Approval (Underwriting) - Loan approval, or underwriting, generally takes 24 to 72 hours. All parties are notified of the approval and any loan conditions that must be received before the loan can close.
Closing - Once all parties have signed the loan documents, they are returned to the lender. If all the forms have been properly executed, the lender sends the loan funds by wire transfer. At this point, the borrower finishes the loan process and actually buys the house.
Choosing the Right Home
You are in control of your home search. You set the terms and the time. You are never under any obligation to buy a home.
You get all the information that Realtors can see, not just what is on Zillow, Redfin, Trulia, etc. You get coming soon, pocket listings, company relocations, new homes, distressed sales, expired, canceled, foreclosures, and for-sale-by-owner listings that meet your needs. You will have access to all real estate companies.
You get me and I am better than other agents at picking out houses for you because I will show you more homes than what I like that meet your criteria. Other agents may show you only homes that they like or think you would like then they pressure you to buy one of those. I will never pressure you to buy a home.
We meet at my office or your home for an appointment. You give me your criteria for the home that your heart wants and I help you search for that home. To better serve you I want to fully understand what you want in a home. That is why we will take some time and go over a longer list of criteria in our Home Hunter Service. Most agents don’t do this. They just ask you about the numbers of bedrooms, bathrooms, square footage and price and set up a mls search. I will search not just the mls but off-market properties to see if they would be a good fit for you. I have access to daily new not yet on the market properties so you are getting priority access to the hot new listings before they go onto the mls. There is less chance that you will miss out on your dream home.
Making an Offer
Once you have found the home that you wish to purchase, I will do all the necessary research to help you structure an effective offer. I have a higher than average rate of winning bids for homes that my clients want. When an offer is made, the seller will have the option of accepting, rejecting or counter-offering. As your real estate agent, I will negotiate the best possible terms for you. Together we will draft the purchase agreement, I will advise you of protective contingencies, customary practices, and local regulations. Home warranty, title, and escrow arrangements will be detailed in the offer. Although I will give you advice and information, it is your decision as to the exact price and terms that you wish to offer.
Managing the Escrow
When the purchase agreement is accepted and signed by all parties, we have a valid sales contract I will open escrow for you and your earnest money will be deposited. The escrow is a neutral third party that will receive, hold, and distribute all funds associated with your transaction.
Prior to closing escrow, all of the contingencies of the Purchase Agreement must be met. I will coordinate this process. Typical contingencies include:
Approval of the Seller’s Property Disclosure Statement.
Approval of the preliminary title report.
Loan approval, including an appraisal of the property.
Physical inspections of the property.
Pest inspection and certification.
Acquisition of homeowner's insurance.
Closing Escrow and Moving In!
When all of the conditions of the purchase agreement have been met, you will sign your loan documents and closing papers. You will deposit the balance of your down payment and closing costs to escrow, and your lender will deposit the balance of the purchase price. NEVER trust an unannounced email with wiring instructions. The deed will then be recorded at the County Recorder's office and you will take ownership of your home.