When representing you as your Buyer's Agent:
We'll work for you full-time as your real estate professionals to help you buy the property of your choice for the least possible price, in the shortest amount of time, and with the least amount of hassle.
When helping you find a property, we will:
- Discuss your home requirements, including style, location, and price
- Review specific facts on financial alternatives to determine the price most suited for your financial abilities
- Provide information on all properties available in the area of your choice
- Show you the entire area you select, locating schools, shopping areas, recreational facilities, and places of worship
In helping you choose a property:
- Discuss the benefits and drawbacks of each property in relation to your specific needs
- Verify the disclosed information on the property
- Give you a complete estimated settlement expense sheet for any property on which you make an offer
While helping you with a chosen piece of property:
- Explain all the financial alternatives to help you find the lowest cost financing available on the property you choose
- Negotiate the best possible price for you
- Explain all written documents, and give you a copy of everything you sign
- Accompany you to the escrow closing, making sure you understand the entire settlement process
Step 1:
In negotiating the purchase of your home, the initial step will be to instruct your broker to make an offer to purchase. This offer should be in writing and accompanied by a check (1% of the purchase price) to show "good faith". The offer should include:
- The amount your are willing to pay
- Closing and occupancy dates
- Any contingencies, including obtaining of mortgage, and building and pest inspections
- Any personal property specifically included or excluded
If the offer is not acceptable, further negotiations are necessary to reach terms agreeable to both buyer and seller.
Step 2:
When buyer and seller agree on terms:
- The buyer immediately applies for financing and arranges for building and pest inspections
- The seller arranges with his attorney for the drawing of the contract of sales based on agreed terms
Step 3:
The sales contract should include, among other things, the following:
- Purchase price
- Mortgage contingency, if any
- Quality of title conveyed
- Date of possession
- Itemized list of personal property included in sale
- Satisfactory building past inspection (if desired)
The contract is reviewed by the buyer (and his attorney), and signed by both parties, usually within 10 to 15 days. The buyer's attorney proceeds with arrangements for title search and other preparations necessary for the closing or passing of title.
Typical Home Purchase Costs
- Points or Loan Origination Fee
- Interest on the Loan. Interest covering the period from date of closing until end of the month
- Title Insurance. Often the banks required this insurance
- Attorney's Fees
- Survey Fees: For a single-family home, if it has not recently been surveyed, the Lender of Title Insurance Company may require a registered survey or map showing the location of the house and the boundaries of the property, as well as easements and rights of way
- Recording Fees: The buyer usually pays the fee for legally recording the deed and mortgage
- Homeowners Insurance: Proof of a current policy is necessary at the closing
- Adjustment Costs: Paid to seller at closing (where applicable):
- Buyer's share of prepaid property taxed
- Sewer service charge, if applicable
- Pest Inspections
- Building Inspection
