Buyer Consultation
Define Needs, Wants, Priorities & Expectations
- What is driving your move
- Timeframe
- Budget
- Neighborhood(s)
- Proximity to work/school/services
- Walkability
- Square footage
- Number of bedrooms
- Number of baths
- Office space
- Backyard space
- Pool
- Updated vs. improvements to be made
Buyers Agent Compensation
As of August 17, 2024, Buyer Representation Agreements are required to be signed prior to any home being viewed.
How a buyer’s agent is paid if the seller offers to pay a buyer’s agent:
- The seller of the property you are interested in has offered to pay the commission due from you to us. In this case, your commission obligation to me will be paid by the seller out of funds you pay to purchase the home.
- The seller has offered compensation consisting of only a portion of the commission you have agreed to pay to us. This would require you to pay any portion of our commission not paid by the seller. Alternatively, you could condition your purchase offer on the seller paying all of your commission obligation to us.
How a buyer’s agent is paid if the seller does not offer to pay a buyer’s agent:
- If the seller has not offered to pay any portion of the commission you would owe to us, you can include a requirement that the seller pay your commission obligation as part of the offer you make on the property.
- If the seller will not agree to pay a buyer’s agent commission, you would be responsible for our commission.
Pre-Approval
Prior to touring homes, you want to be proactive to find out exactly how much home you can afford and begin to secure the financing to make the purchase. While you can get a rough estimate through pre-qualification, taking the extra step to obtain pre-approval will give you some added advantages.
- Understand your financial condition- Are there any steps you need to take pro-actively to improve your credit score, debt to income ratio, improve your reserves, etc.
- Know exactly how much home you can afford- What you are approved for and what you are comfortable with are often times two different numbers
- Strengthen your purchasing power when making an offer- When you find a home you love and are ready to make an offer, your mortgage pre-approval lets the seller know that you’re serious and fully prepared to buy their home.
Some of the documents your lender may require to get the pre-approval process started are:
Income
- Current paystubs, usually for at least two months
- W-2s or 1099s, usually for the last two years
- Tax returns, usually for the last two years
Assets
- Bank statements
- Investment brokerage statements
Debts
- Credit card statements
- Loan statements
- Alimony/child support payments
Making an Offer
There are many factors that influence the market value of a home. The following can help give you insights and empower you to make a competitive offer you’re comfortable with. We will work with you on a strategy to obtain the most advantageous terms and acceptable pricing for you and your budget.
Considerations as the offer is drafted:
- How long has the home been on the market?
- Has the property had any price adjustments?
- Has the property gone into contract previously?
- Are there multiple offers on the property?
- Are there any inspections on file?
- What is being included in the sale or what may be negotiated as part of the sale?
- What are the market conditions in the area or neighborhood?
- What is the situation of the seller?
Terms the seller will take into consideration:
- Escrow Period
- Initial Deposit
- Type of Financing
- Amount of Down Payment
- Contingency Periods…Inspections, Appraisal, and Loan
- Allocation of Costs: Title, Escrow, City Transfer Tax, County Transfer Tax, Home Warranty, and Buyers Agent Compensation
- The Buyers’ Agent
- The Lender
We will help you set purchase price parameters by providing you with a comparable market analysis comparing the home, its price and its features to other similar home in the area that are on the market, are under contract or have recently sold.
Then, we will present the offer to the seller through the listing agent and help you navigate the seller’s response.
Escrow Period
- Communicate, Communicate, Communicate with you through the entire process
- Provide a timeline for the length of the escrow period
- Deliver contract to the title company and lender
- Ensure you have instructions on how to handle the initial deposit getting to the title company
- Review disclosures, preliminary title report and natural hazard disclosure with you
- Ensure appraisal is calendared
- Check in with lender regularly to ensure the loan process is moving as it should
- Arrange inspections and inspection dates/times with you
- Review inspection findings with you
- Negotiate any requested repairs
- Deliver contingency removals to listing agent
- Coordinate and attend signing of final paperwork
- Provide information on how to transfer utilities from seller to you
- Coordinate delivery of keys you at the close of escrow
