At the Tracy Halverson Real Estate Group we love helping buyers find the perfect home. Buying a home is one of the most important life decisions you will ever make and assisting you in finding the perfect home is our top priority. We will guide you from beginning to end through the transaction process.
Starting Your Search
The most important first step when purchasing a home involves obtaining a pre-approval letter from a qualified mortgage adviser. Our team has a list of expert advisers that we know and trust and we are happy to share that list with you if you need a mortgage professional. A pre-approval is important because it enables you-and us-to know exactly how much home you can afford which allows us to focus on homes within your approved price range. When you are ready to submit an offer on a home, the pre-approval letter is often required as part of the offer paperwork.
Make a List of Priorities and Preferences
Are top school districts important? The commute time to work? Begin by making a list of your needs and wants. This will help us assist you in narrowing down the best home and locations for your family’s needs. This is where our market knowledge will have the most impact. We will provide you with the most current information to review and consider including taxes, schools, amenities and most important – the resale value of the home you are thinking of purchasing.
The Comparative Market Analysis (CMA)
Before making an offer, we will review a comparative market analysis (CMA). A CMA provides us with a detailed estimate of the market value for the home you are interested in. CMA’s include recent sales based on similar property characteristics (i.e. location, square footage, lot size, year built, upgrades, etc.) The CMA enables us to make a competitive offer.
Making the Offer
Before submitting an offer to buy the home, there are many factors we will discuss including:
- Amount of earnest money required
- Down payment
- Price you are offering
- Details of financing
- The option period
- Proposed move in date
- Proposed closing date
- Details of the sale (closing costs, etc.)
- How long the offer is valid
The seller will either accept the offer as presented or make a counter-offer which you will either accept or we will submit a revised offer. When both parties involved have agreed upon the details, initialed any revisions, and signed the final agreement, then an offer becomes a contract.
Once a contract is signed by both parties, the home inspection is a critical next step in the buying process. We will provide you with a list of expert home inspectors to choose from that will inspect the home from the roof to the foundation. After receiving the inspection report, we will negotiate any necessary repairs/treatments on your behalf that are listing in the report.
The period from contract to close consists of many, many details and our team is here to help you every step of the way. We will guide you through the process, answers questions and facilitate tasks that need to be done during this time. From setting up and/or transferring utilities, transferring any lifetime warranties, pool or lawn service – we are here to anticipate any service you may need along the way and ensure you have the support and assistance you need.
The morning of the closing on your new home, we will conduct a walk-through of the home to ensure the negotiated repairs have been completed, the home is in the same (or better) condition as it was when the offer was accepted and that any items (chandeliers, etc.) that were to remain with the home are in the home. Then it is off to the title company where you will sign documents and receive the keys to your new home.