Determining Your Needs and Wants
Name the top features you must have in your next home then decide what features you would really like but can live without.
For example, "I need a 3 bedroom home with a garage or basement; if it has a fireplace that's great, but I need either a
garage or basement."
Get Pre-Approved for a mortgage, not just prequalified
This takes the mystery out of searching for a home. You'll know what you can afford to look at and the Seller will know
that you are a serious Buyer because you already have your mortgage approval.
Decide where you want to live
Narrow our choices for what towns or areas you'd like to live. Have several areas in mind and put them in order of preference.
Be prepared to wait for your dream home if you decide that you only want to live in a certain geographic area such as a popular
subdivision or small neighborhood.
Looking for your new home
Now that you know what features you want, what price range to look in and what towns you want to live in, you can begin your
home search. Some buyers prefer to do their own investigative work while others want their Realtor to show them what's
available. Either way, Mike will be there to support your needs and address any concerns you may have.
Making the Offer and Negotiating the Purchase
Once you've found the home you want to buy, Mike will prepare and review with you the offer to purchase. With his years
of experience, he'll suggest strategies on how to handle the Seller's response.
Signing the Agreements of Sale
Once we've come to a "meeting of the minds" with regards to price, terms & conditions, the Listing agency usually
prepares the agreement of sale. Customarily, the buyer signs first and writes out a check for a previously agreed upon
amount to the Listing Broker. This is your "Earnest Money Deposit or Initial Down Payment". After the Seller signs the
agreement, you'll initial receipt of a fully signed agreement of sale and the three-day attorney review period begins.
Coordinating the Settlement Services and Property Inspection
After signing the agreements, you'll need to decide if you'll hire an attorney, conduct a home engineering inspection
and test for radon gas and lead based paint. We'll need to make your lender aware that you've found a home so that an
appraisal can be ordered plus you'll need to order a survey, title insurance policy and a termite/wood boring insect
inspection. Mike can assist you with the scheduling of all this.
Preparing for Settlement Day
You should confirm your arrangements with your movers and make sure all utilities are scheduled to be turned on or changed
into your name on settlement day. To find out more, click on our Moving Kit. Mike will coordinate the final details with
your title company and mortgage lender. He will schedule a settlement time at your convenience and provide you with a
written estimate of your closing cost so that you can obtain certified funds for settlement day. Mike will also arrange
a pre-settlement inspection of your new home just prior to closing
Settlement Day
You'll start with your pre-settlement inspection to insure that there are no changes in the property's condition. Then
you'll go to the settlement where you'll execute all the mortgage lender's documents such as the note & mortgage,
truth-in-lending disclosures and finally, you'll review the HUD1 settlement sheet prepared by the title clerk. Every
step of the way, Mike will be there for you. After you've finished signing and have paid the balance due, you'll receive
the keys to your new home.
Post Closing
Most of the time settlement goes smoothly. However, sometimes there will be issues that survive the closing and which
need to be addressed. It is best to resolve these quickly and to confirm in writing exactly what each party agrees to
prior to leaving the settlement room. With over 35 transactions a year, Mike's vast experience and negotiation skills
will help carve out a solution that protects your best interest.
