By getting pre-approved, you know exactly how much home you can afford. There is nothing worse than finding your dream home, only to find out that you cannot qualify for a loan to buy it. A pre-approval also strengthens your bargaining power when negotiating with a seller. I have a number of lenders I can refer you to or you can find your own.
At this stage, I will set up a search for you on the MLS which will email you all of the properties available that match your wants and needs. You can then sort the homes into your favorites, possibilities and discard the ones you don’t like. It is a portal so I can see what you like and don’t like. We will base our first day out looking on the ones you have “favorited”.
If your search criteria is narrow enough, I will send letter or postcards to all of the homeowners who have properties that match your wants and needs letting them know that I have a qualified prospective buyer interested in homes like theirs. This method has proven to be very effective for buyers with limited options.
My goal is to get your preferred home on your terms which includes things like closing dates, items or parameters to be included in the sale, and of course price and earnest money. I will explain your contractual rights and responsibilities, talk about different negotiating strategies and give as much advice as I can. The offer will spell out how much you are willing to pay for the home, what type of financing you will obtain and a myriad of other important details and dates relevant to the purchase of the property.
After we complete the paperwork, I will deliver your offer to the Sellers or the Sellers agent. This is an important step because it gives me an opportunity to explain the offer, overcome objections, build rapport and answer any questions the sellers may have. The Sellers will do one of three things: Accept, reject or counter the offer. Often times negotiations will go back and forth several times before the offer is accepted or rejected.
The sellers of the property will provide you with a Title Insurance Policy. This policy protects you, the buyer, against loss arising from disputes over ownership of a property. You will have an opportunity to review the policy and determine if there are any exceptions to the policy that you find objectionable.