The Home Buying Process
Buying a home involves many decisions, but selection of the right real estate professional makes the process easy and safe for the buyer. Selecting an agent to represent you is the first and most important step in the home buying process. Selecting an Exclusive Buyer's Agent assures that you, the buyer, will receive loyalty and objectivity during the process of buying a home. Dawn Ho is committed to meeting your needs and representing you throughout the home buying process.
The five phases of the home buying process are:
Each of these aspects are described here for you. I would be pleased to answer any further questions that you might have about this process.
Financing
At the beginning of the purchase process, buyers need to focus on their financing. Once you are approved for a mortgage, you can shop for a home with confidence knowing that you won't have problems getting the loan. This also establishes a maximum sales price and adds leverage in negotiations with the seller.
As an expericenced buyer's agent, I can introduce you to local lenders who will be appropriate for your particular financing requirements.
Search
During home searches, buyers should be shown every available home in their price range, their community of interest, and in the style and size they prefer. The search should not be limited to the homes an agent has listed; the search should include exposure to all homes that meet the needs of the buyer.
Offer and Acceptance
Once we find a home that best meets your needs, the process of offer/counteroffer begins. The initial offer should protect the buyer from any uncertainties and provide room for negotiation of a final price satisfactory to the buyer. Any negative aspects of the property should be addressed in the offer as contingencies or price adjustments.
Typically, a buyer makes an offer to purchase a home knowing only what appears on the surface; inspections are necessary to identify any problems that must be factored into the offer. Contingencies such as down payment, type of financing, closing/possession dates, included items, home protection plans, and numerous other details must receive careful consideration.
Negotiations and Closing
After we write your initial offer, I present it to the seller and their realtor. Once the terms of the offer are acceptable to both parties, I then open escrow, and we will start the process of inspections of the home by qualified professionals. If any problems arise, we will renegotiate asking that the issues be resolved or the price be reduced.
Another aspect of this phase is title insurance. The preliminary title report will reveal any liens or encumbrances against the purchased property. While uncommon, these issues do arise on occasion and may require renegotiations or even termination of the sale. If the seller is unwilling to resolve these problems, we can at any time move on to another home, as there are always others available on the market for the buyer.
Post-closing
Every buyer deserves an agent who will not only follow through and guide the buyer in the home buying process, but one who will be there should a problem arise after closing. I will remain active past closing until you are satisfied.
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