It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income.

We'd like to schedule a time to meet with you to hear the reasons you want to buy a house and your plans for the future. We'll talk about neighborhoods, schools, and economic factors liable to affect the market today and tomorrow. We will discuss our “Buyer’s Agency Agreement” & you will decide whether you choose to be “represented” by Golden Corner Realty & Development and become our client or remain unrepresented as a customer.

At this time, we will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal. It will also let us know how much house you can afford comfortably.

After our initial meeting, we'll search all our resources for houses on the market that fit your criteria. Then, we'll schedule appointments to tour the houses at times convenient to you.

As we tour houses, we'll point out positive features and negative features. We'll ask you to tell us what you like and what you don't like. You'll probably amend your "wish list" as we tour houses. Some things will become more important and others less important. With this new information, we'll refine our search criteria to narrow in on the house of your dreams.

Our knowledge of the local market is an essential factor in the house search. We'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.

As we tour houses, we'll let you know when the asking price has negotiating room and when the house is "priced to sell". Our unique market knowledge will keep you a step ahead of the "house hunting competition".

In a "seller's market", it is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.

We're confident that we'll find your dream house. When we do, we'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).

The offer is presented with "earnest money", normally 1% of the purchase price. This is money to secure an offer to buy the property. It will be held in the Broker's escrow account until closing. The amount is applied to closing costs. If the seller accepts your offer, closing is held 30 to 45 days from the offer date (generally dependent on the turn around time of your mortgage financing).

It is not uncommon to receive a counter offer when your initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.

Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.

After your offer is accepted by the seller, we recommend getting a home inspection done by a reputable licensed home inspector, a step we recommend you don’t skip. For $250-$350, your new home will be inspected thoroughly. You will receive a written report noting problems- with any aspect of the house. If something is out of order such as a roof leak, electrical issues, etc., you can ask the seller to put these items in working order before you complete the sale. Above all, you will “know” your house before moving in, preventing after-closing surprises.

After you have an accepted offer, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. We'll gather the necessary property information your lender will need to close the loan. A "Good Faith Estimate" of closing costs must be provided to you at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. We will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates we believe to be inaccurate. You will need to choose a real estate attorney and get a homeowner’s insurance binder upon final approval of your loan.

Upon your final approval, a closing date will be set by your attorney. Your attorney will be responsible to check the records for clean title. He will also prepare documents for final settlement. You will do a final “walk-through” of your new home on the day before closing. This is to insure that the home was left clean and free of debris, and that personal properties included in the sale were left for you.

Congratulations! It’s closing day. You will need to get a cashier’s check for your cash needed to close. Or you can arrange a wire transfer into the attorney’s bank account (this would be done 2-3 days before closing). Your attorney will have the amount needed for your closing. It's time to move into your new house and make it your home. Enjoy this exciting time. We'll help you remember the numerous details that will make your moving day a pleasure. Don’t forget “Your Realtor-For-Life”. We hope you will refer us to your friends & family.