FOUR PHASES OF BUYING A HOME

To streamline the home buying process for you, we have defined four distinct stages. This article summarizes each step of the process. We encourage you to contact us for more details.

STEP 1: PRE-SELECTION

Initial Meeting
  • Define your goals & objectives
  • Overview of Multiple Listing Service (MLS) areas, statistics, and maps
  • Discuss qualities of “blue chip” properties
  • Loan pre-approval
  • Create plan of action
Finances
  • Meet with mortgage representative and submit application
  • Verify purchase price
  • Estimate timeline to closing
  • Liquefy necessary funds
  • Receive pre-approval
Insurance
  • Meet with broker
  • Verify availability of insurance
  • Determine specific information/actions needed by broker to issue insurance
Contract
  • Review contracts
  • Clarify questions with Jeff or Steve
  • Write letter of introduction

STEP 2: SELECTION

Search
  • Narrow options for MLS areas, home type, and price range
  • Establish MLS auto-search
  • Tour neighborhoods and begin process of elimination
  • Visit open homes within price range
  • Tour properties with Jeff or Steve
  • Move quickly when a winner is identified – call Jeff or Steve
Confirmation
  • Tour property with Jeff or Steve
  • Determine offer date and time
  • Drive and walk around neighborhood
  • Review disclosure documents
  • Verify school districts (if appropriate)

STEP 3: CONTRACT NEGOTIATIONS

Offer
  • Meet with Jeff or Steve to write offer
  • Tender deposit check
  • Deliver letter of introduction
Counter-Offer Strategies
  • Make the other person walk away
  • Look for trade-offs
  • Seek a win-win solution
  • Determine if new inspections and/or a walk-through are needed
  • Negotiate any newly discovered fix-its
  • Verify appraisal and ability to close of escrow on agreed-upon date
  • Remove contingencies

STEP 4: ESCROW MANAGEMENT

Details Handled by the Stricker/TenBroeck Team

  • Generate buyer’s file
  • Meet appraiser at property
  • Submit deposit to escrow
  • Submit contract to lender
  • Monitor loan process closely
  • Meet with inspectors (if any)
  • Review all reports and disclosures
  • Review final settlement statement
  • Accompany you to escrow sign-off
  • Final walk-through checklist
  • Verify possession from seller
  • Final review and update of buyer’s file