Step 1 - Determine if buying a home now is smart for you. We will set up a free meeting to help you with that.
Step 2 - Get pre-approved for your loan.
Step 3 - Identify what kind of homes you like (including areas).
Step 4 - Use my “Homes Email Notification” Program to search for homes.
Step 5 - Drive past homes that interest you.
Step 6 - Call or email us to see the inside of homes you like.
Step 7 - Decide which home you want to buy.
Step 8 - Together, we write the offer, then I present it to the seller’s agent.
Step 9 - Once the offer is accepted, set up the home inspection.
Step 10 – If there are physical problems with the home, negotiate with seller.
Step 11 – The loan officer and I take care of all the “behind-the-scenes” work to get you to the closing table.
Let me explain each step in more detail.
Step 1: Meet with me to discuss your situation and to see if buying a home is what you want to do at this time. My goal is that when you are
done meeting with me you feel much better -- and much more
knowledgeable -- about the process. Again, I am not going to try to "sell" you a home. What I do is counsel you and guide you through the process. If you summed up what I do in just three words, it would be "Real Estate Counselor".
Step 2: Get pre-approved for a home loan. This is something we can take care of at the first meeting, as well. When you are pre-approved,
you can shop for your new home in confidence, knowing that you won’t
have any problems getting the loan. Many buyers who skip this
step and just go out house hunting are unsure and nervous when they
find a home that they like, because they don’t really know for sure if
they will be approved for the loan.
It's also important so that you stay in your comfort level. For example, if you don't want to pay more than x dollars per month, then I will work that backwards to determine what price range you should be shopping in. And when you and I are out looking at homes, when we find one that you are considering, I will contact my loan officer and give him the exact taxes on that home, and he will run a payment for us. That means that he will tell us exactly what your mortgage payment would be if you bought that particular home. This is a very important step -- in the excitement of buying a home, you don't want to realize at the closing table that your payment is higher than you wanted it to be. This is just one more way that I protect my clients.
Please remember that I represent you, not the seller. I am looking out for your interests. The most common way for me to be paid is a commission from the seller’s proceeds at closing. That means that you do not pay me -- I am free to you. Unless unusual arrangements are made, I generally do not get paid until you close on the house.
Step 3: Determine the features and benefits that you are looking for in a home. You and I will talk about things like price range, area of town that you prefer, style and size of the home, number of bedrooms and bathrooms, garage requirements, and more.
Step 4: Next, I
will set you up on my “Homes Email Notification” Program that allows
you to search the entire list of homes for sale in the Des Moines area,
no matter which real estate company has the home listed! This is a very
fun program to use. And it is absolutely the best way to keep up with
new listings in your price range; my database is updated every
business day, unlike the newspaper or most real estate websites.
This brings up a common question I get from clients: “Do we have to buy a home that is listed with your real estate company?”
Many people are surprised to find out that the answer is NO! As your BUYER AGENT,
I will represent you no matter which company has the home listed for
sale. It’s not important to me if it’s a home listed with our company.
In fact, it’s extremely common for two real estate companies to be
involved. One company represents the seller, and the other company
represents the buyer. This is why my “Homes Email Notification”
program sends you listings from ALL real estate companies in our area.
Step 5: You can then pick out some homes you like, and if you wish, drive by those homes at your convenience and at your own
pace to determine which of them you like the best and want to tour. Then, (Step 6) simply call or email me to let me know, and I will then make the necessary arrangements and
take you to see them!
Many agents will just throw you into
their car and drag you through a bunch of houses – many of which you
won't be interested in. I respect the value of your time, and only want
you to view the homes that YOU want to see!
Step 7: After viewing homes for a while, at some point you will be in a home and just know it's the one for you! When that happens, I will write up the purchase agreement with you (Step 8). My goal is to get you the home that you
want for the best possible price and terms, and we will discuss
strategy for accomplishing this goal. I will also make sure that you thoroughly understand the purchase agreement and how everything works at this point in the process.
Step 9: After our offer is accepted, we should set up the "Home Inspection". I strongly feel that all
buyers should write their offer subject to hiring a Certified Home Inspector. "Subject to a Home Inspection"
means that you have “tied up” the home, so that no one else can buy it,
but that if there are any major problems, we will negotiate those with
the seller (Step 10). If the seller refuses to negotiate those problems to your
satisfaction, we can terminate the transaction and find a better home.
This is a very important step. If you don't understand it all right now, don't worry. The bottom line is that I do not want any of my clients buying a home with problems, and if you hire a good home inspector, you can prevent that. Usually, if there is a problem, I can negotiate a solution that will make you happy. But if not -- if the seller refuses to work with us on this -- then you do not have to buy the home. Again, remember: If there is a problem with the home, and the seller refuses to fix the problem, then you do not have to buy that home!
One more thing: When I write an offer for my buyer clients, I also always have the SELLER pay for a home warranty for
you, which is different from a home inspection. It's free to you, and
I don't make any money from it, just to be blunt. But I want to look
out for my clients; I want to make sure that if something goes wrong
later on with your home, you'll be covered. In general, a home warranty
lasts 1 year, and almost anything that can go wrong with your home
would be covered under it. (Read more about home warranties here.) This is just one more way I look out for my
clients.
Step 11: All the "behind-the-scenes" stuff... things like the appraisal, making sure that you get clear title to your new home, bringing the abstract up to date, etc. There's a lot to it, and I make sure it's all taken care of for you.
A day or so prior to closing I will conduct a
“walk-through” inspection with you to make certain that all items
specified to stay with the home are still there, and to verify that the
home is still in the same condition as it was when you wrote the offer. Then, we go "close" on the home, which means that you sign papers for about 45 minutes, and I give you the keys! :)
Some last thoughts: There
are many different forms and papers involved in the home buying
process, and I know that can be a little scary to some people. If you
take nothing else away from this website, please know that I am here to help you, and that I will guide you every step of the way.
The
average time from getting the contract accepted to closing is about 30
days, although shorter or longer closings can be negotiated. Every
transaction is unique, so I will monitor all of the details very
closely and keep you informed.
Remember
that I am here to help you. If you are concerned or confused at any
time, let me know immediately. There is no such thing as a stupid
question when you are dealing with a large investment like this!
To review, the steps in the home buying process are:
Step 1 - Determine if buying a home now is smart for you. We will set up a free meeting to help you with that.
Step 2 - Get pre-approved for your loan.
Step 3 - Identify what kind of homes you like (including areas).
Step 4 - Use my “Homes Email Notification” Program to search for homes.
Step 5 - Drive past homes that interest you.
Step 6 - Call or email us to see the inside of homes you like.
Step 7 - Decide which home you want to buy.
Step 8 - Together, we write the offer, then I present it to the seller’s agent.
Step 9 - Once the offer is accepted, set up the home inspection.
Step 10 – If there are physical problems with the home, negotiate with seller.
Step 11 – The loan officer and I take care of all the “behind-the-scenes” work to get you to the closing table.
And remember: whether you are buying next week, or next year, you will get no “sales pressure” from me. I’ll be here when you’re ready!
I look forward to working with you, and seeing you settled into your new home!
Questions? Please post them below, or contact me:
mike@mikedavishomes.com
515.259.1078
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