STEP 1: Meet with Martha and discuss the buying process
- Pre-approval: Obtain pre-approval for financing and determine a price range. Discuss the importance of pre-approval and the advantage of working with a local lender. Martha can refer local mortgage bankers and lenders.
- Agency disclosure: Discuss the concepts of agency and dual agency.
- Review the Homebuyer’s Questionnaire and develop a “needs” list.
- Explore neighborhoods together and develop a comparison base for the desired size and style of property. Eliminate neighborhoods that don’t meet the criteria.
STEP 2: Shopping for a house
- Martha will attend Monday and Thursday Brokers’ Open Houses to screen houses for you. She will refer you to any homes that she sees which are appropriate.
- Martha will suggest homes to look at on Sunday Open House, and take you to see any that are appropriate. Discuss Open House protocol.
- Review the standard Residential Purchase Agreement and familiarize yourself with inspection, appraisal and loan contingencies.
STEP 3: You’ve found the perfect house
- We review the house together at least once.
- Martha speaks with the listing agent regarding disclosures, interest in the property and offer presentation timing.
- We look at comparable listings and sales, and make a determination about value and price.
- We discuss various offer strategies and consider the state of the market.
- We write the offer. Bring your checkbook!
- Martha presents the offer to the Seller and the Seller’s agent, and represents you in any/all negotiations that follow.
STEP 4: The offer is accepted
- Martha opens escrow with the title company and deposits your good faith deposit.
- Martha faxes a copy of the contract to the lender so financing can get underway.
- Martha provides you a copy of important dates and transaction details during the escrow period.
- Martha will offer names of service people (inspection, sewer, etc), and will schedule and attend all inspections.
- Martha will discuss the outcome and consequences of any findings with you, and whether or not those findings will lead to additional negotiations.
- Martha will set up an appraisal with the lender.
- Martha will recommend homeowner’s insurance contacts to you in order for you to open a policy, a necessity prior to closing.
- Martha will continue to monitor the loan process and monitor the escrow process, staying in constant touch with the lender and title company.
- Martha accompanies you to the title company for signing. Bring your I.D!
- Before closing, we ensure your down payment has been wired to escrow and we check to ensure your lender has funded the loan on time.
STEP 5: Escrow closes and you have a new home!