It was such a pleasure working with a client my age, 26. How encouraging to millennials to see that homeownership is a reality. Being a 1st-time buyer, Adam needed to be walked through the entire process, My Expertise!
How does the process work?
Step 1: We will meet for coffee
Step 2: We start looking online, in the MLS, you’ll send me redfin links, we narrow down the list to the ones you want to see. We schedule private showings with just me and you and you go to open houses, they’re fun, they’re free and they are Saturdays and Sundays. Eventually we will narrow it down to one that you love.
Step 3: The offer. I will do a CMA, and that’s where we compare it to others that have sold in the last year so that we come in at an appropriate price. Then we are going to pick a closing date and an earnest money deposit which is a part of your down payment, it’s not an additional payment and it shows the seller that you are serious. Then you will sign online, submit your pre-approval and then write a note to the seller which makes a huge difference. I will then present it to the seller and it may go back and forth until we come to an agreement.
Step 4: We open Escrow, Escrow is a third party that is only paid if we close as part of closing costs. They hold your earnest money and make sure all the proper paperwork is done so we can close on time.
Step 5: You will hire a home inspector and that will cost around 400-500 dollars out of pocket. This is super important because it protects you the buyer from walking into something that may have a lot of problems underneath the surface. This is also a negotiation point if we find $5,000 worth of work that needs to be done we can work with the seller to either get those costs paid for or meet somewhere in the middle. You will look through all the HOA rules and regulations.
Step 6: Once you are 100% certain that you want to move forward you will start working with your lender on your loan and there will be an appraisal to make sure you are buying the home for market value.
Step 7: The final walkthrough, we make sure the seller moved out and any repairs made are done and then we close. At closing, you will sign your name about hundred times, but at the end, you will get the keys to your new home and it will all be worth it.
Step 8: Move In! Decorate and have a housewarming party.