Buyers Guide

Buying a home is a huge investment. You can buy a home for full time living, second home, rental or investment. Whatever your reason is, selecting the right agent is the important first step.

You want an agent that is not only professional, courteous and knowledgeable, but one that you can relate to. This means he or she listens to you and has your best interest in mind. Buying a home can be an emotional roller coaster ride so it is nice to have someone on your side that makes you feel safe. That safety can be found in someone who is a very good negotiator or has very good referrals of home inspectors, builders or Lenders.

Once you have selected your Realtor, speak with your Lender and get pre-qualified up to your highest comfortable purchase amount. This will give you buying power when making an offer. It also makes the Seller’s feel more confident that you are a serious Buyer.

Next follow your Realtor’s advice when making an offer. They know their market better than anyone. Their job is to get you the best home for the best price, so use their knowledge and skill. I guaranty that if you do, your home purchase will have a better chance of succeeding.

After you have an accepted offer you will need to have a reputable home inspector. Your agent can give you a few names of inspectors in the area that he or she trusts. If you cannot be at the inspection, speak with the inspector before the inspection to make sure that your concerns are voiced. Your agent can attend the inspection to represent you and assure your concerns are looked at.

It is my recommendation to always have a termite inspection at the same time as your home inspection. I like them at the same time for multiple reasons. First the more eyes inspecting the home at once the better. Second, it is more convenient for everyone to schedule them together. Third, you are limited on your due diligence period for usually 10 days on average. Fourth, it allows your agent to address everything with the Listing Agent in an expedited manner.

After the inspections are through, review your inspection reports and discuss the findings with your agent. As a general rule of thumb, I suggest not bombarding the Seller with minor issues that might muddy the waters. Structural issues are something to have the Sellers address, if repairable. Major electrical or plumbing problems, roof leaks, air conditioning, large appliances and broken windows are also items I recommend asking to be repaired.
If the Seller is not financially able to repair the items. Buyer and Seller could agree to a price reduction that would cover the cost of the repairs.

Next, termites can be an issue. Especially with cabins and homes with lots of exterior wood. In my area, the usual coast of treatment is $650-$1000 depending on the size of the home and the severe nature of the infestation. I recommend having your home Bonded. It is usually included in the treatment price and is transferrable to the next Buyer for a small fee.
The other two important parts of the equation are Closing Attorney and Insurance coverage. Your Agent can help with recommendations for them also.

Approximately 48 hours before closing you will receive you HUD Statement showing you the final closing costs and any credits you might receive.

At closing you will need the following:

  • (2) forms of photo I.D.

  • Insurance Binder on the home you are purchasing

  • Utilities switched into your name as of closing day

  • Monies wired from your bank to Attorney per attorney instructions

  • A check for Seller if you are purchasing any personal property from them