Buying Process

This  is the general  process I will follow in assisting you purchase a property:

 

    • Determine Requirements: Determining your property requirements is the most important step in the real estate buying process. It isn’t unusual for your requirements to change and evolve through  time and that is perfectly fine. The objective is to find you what you ultimately want. I spend whatever time is necessary with you to do this.
    • Property Research: Once your requirements are initially identified I then do comprehensive searches in our MLS (and unlisted, “pocket listings”) to see what is the best fit and present those to you. Typically this is an iterative process. This includes a Comparative Market Analysis (CMA) once you have found a property you are interested in. The main purpose of a CMA is to help determine an offer price but it also can be used to simply compare different properties at a detailed level.
    • Market Analysis: It is important to know what the broad and detailed market trends are for the area or areas you are interested in. Custom reports will be prepared of Real Estate trends to both assist you in getting a feel for the real estate market as well as assisting in help determine an offer price. To do this I primarily use “Infosparks” Real Estate Trend Analysis software (See Market Trends on the Home page).
    • Property Tours: Once we you have indicated what properties you would like to see I organize viewing tours of those properties. Again, this is typically an iterative process and you might want to see some properties more than once.
    • Learn more about the properties you are interested in: Throughout this process you will have many questions. My job is to get the answers quickly for you.
    • Make an Offer: Once you find a property you would like to make an offer we put together a Purchase and Sale Agreement (PSA). I advise you on the appropriate offer structure to obtain the best possible purchase price and terms.
    • Negotiations: I negotiate on your behalf with the listing realtor to obtain the best deal for you. Typically we will go through some counter-offers.
    • Due Diligence: Depending on the property this can be as simple as a property inspection that is dictated in the PSA to considerably more complex analysis for commercial and investment properties. I own income and commercial property myself and know what kind of investigation and analysis is required. The terms for the Due Diligence are all outlined in the PSA and include review and acceptance of elements such as Condo Home Owner Association annual member and board meeting minutes, budgets, etc., coordinating home inspections, negotiating repairs, credits or concessions or terminating a contract if any major problem comes up during an inspection that can’t be resolved.
    • Financial Assistance: Should you require a loan I have many first rate contacts with what I consider to be the best mortgage lenders and bankers in the area. This includes all types of financing including jumbo loans, conventional loans, FHA, etc. I will work closely with the lender throughout the process to closing. It is not uncommon for me to manage/supervise them quite tightly to make sure that the financing is completed on schedule.
    • Open Escrow. Escrow is opened after your offer is mutually accepted. I work closely with the Escrow Officer through closing. This includes getting an early estimate of closing costs, ensuring that there is clean title, etc.
    • Manage until Closing: My job on your behalf is to manage and coordinate everything that is required to get accomplished to complete the sale of the property and it closes. I develop a schedule for all contract items and review them with all parties including you to make sure we are all in sync. I then manage and coordinate all the elements of the purchase at whatever level is necessary to successfully complete the purchase and deliver the keys to you.

 

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