So, you're interested in buying a home? Terrific! Here are the steps you need to take to make that dream become a reality!
1. Commit to working with one Buyers Agent who will work hard for you on your half. Keep in mind that you do not have to pay this Buyers Agent, becausethis agent will be paid by the sellers of the home which you buy.
2. Send all listings you see online and would like to see in person to your Buyers Agent. Your agent will then organize a home tour to allow you to see those homes quickly and efficiently. Repeat this process until you find the home you actually want to purchase.
3. When you find the right home that you would like to buy, meet with your Buyers Agent to write up an offer. When you find the right home, it is important to move quickly! Nice homes can sell very quickly, and you do not want to miss out on that perfect opportunity. The average sales price tends to be around 3.5% under the list price. Some houses that are distressed may sell for closer to 5%-7% under the list price. Homes that are in excellent condition and are move-in ready will often go for full price or just a bit below. If you make your offer too low to begin with, you can offend the sellers and jeopardize your ability to get the home at all. So be careful.
4. Once you have negotiated a fully accepted offer, then the time clock begins ticking. It is important to begin moving forward immediately with your loan process and with your inspections. Be sure to provide all paperwork to your loan officer as soon as possible so that there are no delays to getting your loan approved. And be sure to complete your inspections quickly so that you can address any issues within the time frames delineated in the contract.
5. It is a good idea for you to attend the inspection. This will allow you to see directly what issues may be wrong with the home. Also keep in mind that home inspectors will find an extremely long list of “problems” with the home due to the nature of their job. Get emotionally prepared ahead of time for a long list of issues. They can generally find problems in any home, even brand-new homes. The key will be for you to focus on the serious problems with the home.
6. After the inspections, you will generally have an opportunity to request that the sellers make a few repairs to the home prior to closing. Some buyers make the mistake of assuming the sellers will make any and all repairs that the buyers want them to make. However, this, too, can potentially jeopardize your deal. When you submit your laundry list of issues you would like them to repair, they have the right to walk away from the transaction completely. If they have another buyer in the wings, you can lose the home altogether. So it is best to narrow your list of requests down to about 3-5 items.
7. Once you have worked through the inspection process completely, then you should focus on getting your loan closed. Contact your loan officer regularly to make sure things are moving forward. And be sure to provide any paperwork or documentation quickly along the way.
8. Prior to closing, you will need to set up your home owners insurance as well as make preparations to get the utilities put into your name.
9. Important: Do not make any other big purchases prior to closing on your home. If you purchase a vehicle, for example, and the mortgage company sees the new auto payment on your credit report, they may decline your mortgage and kill the deal.
10. Prior to closing, you will need to prepare a cashiers check made out to the title company for the amount of your down payment and closing costs. Confer with your loan officer for the precise dollar amount for that check within 24 hours of the closing.
11. When you get to the closing table, everything should be correct by that point. But you will want to read over the Closing Statement (HUD) carefully to make sure each line item looks right from your vantage point. If you have questions at this point, your Buyers Agent or the Closing Agent will be able to help answer questions.
For more information, call or textChris Russellright away at513-378-4663.
Author:Chris Russell Phone: 513-378-4663 Dated: October 19th 2016 Views: 916 About Chris: Real Estate Broker & Owner
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A word from Chris Russell, CEO of Plum Tree Realty:
"One of my greatest passions is to use our real estate business to help alleviate suffering in this world. So we take proceeds from Plum Tree to help orphans, feed the hungry, heal the sick and hurting, and to aid the homeless ... both in the States and abroad. We are not about "getting rich." We are about making a difference. So when you do business with Plum Tree Realty, you can know that a portion of your money is going toward helping those on this planet who are in need of help. Together we can make a difference!"
To help people realize their dreams in home ownership and real estate investing through the highest levels of broker services at the most affordable prices available.
Our Core Values:
Integrity in every relationship, decision, and transaction.
Truth in word and deed.
Hard work that keeps us ahead of the competition.
Sacrifice of our own interests for the gain of our clients.
Commitment to excellence in every task we perform.
Respect for all people.
Giving to those with whom we work.
Areas of Expertise:
Residential Real Estate Sales and Purchase
Commercial Real Estate Sales, Purchase and Leasing
Real Estate Investing (buying, selling, holding, rehabbing)
Property Management and Leasing
Putting it Together
Plum Tree Realty is a premier real estate marketing company focused on helping buyers and sellers get the highest level of real estate services. We help home owners, for instance, who have homes for sale in Mason, Ohio to price their homes in a competitive way since the market is growing in such a fast rate in that area. When a buyer is looking for West Chester, Ohio real estate for sale, we can guide them to the very best deals that are available, and we can give them expert advice as they make such a huge purchase. We cover all of the major real estate markets of the Greater Cincinnati including the following hot markets:
Cincinnati, OH Real Estate (homes for sale)
West Chester, OH Real Estate (homes for sale)
Madeira, OH Real Estate (homes for sale)
Monroe, OH Real Estate (homes for sale)
Indian Hill, OH Real Estate (homes for sale)
Hyde Park, OH Real Estate (homes for sale)
Blue Ash, OH Real Estate (homes for sale)
Lebanon, OH Real Estate (homes for sale)
Loveland, OH Real Estate (homes for sale)
Fairfield, OH Real Estate (homes for sale)
Hamilton, OH Real Estate (homes for sale)
Liberty Township, OH Real Estate (homes for sale)
Kenwood, OH Real Estate (homes for sale)
Mount Adams, OH Real Estate (homes for sale)
While some people search for homes according to the suburb names, others are very interested in the top school districts in the area such as homes for sale in Mason School District, homes for sale in the Lakota School District, homes for sale in the Wyoming school district, homes for sale in the Sycamore school district, homes for sale in the Monroe School District, and more. Our agents are highly-skilled in placing families in the best school districts in Cincinnati according to the desires of each family involved.
Of course, we also have great skill in helping buyers and investors find foreclosures, short sales, bank owned homes, and other great investment properties in the Greater Cincinnati Metro Area as well. Many of our agents are investors themselves, so they are great at helping other investors be the first one to the "golden egg."
We also have agents who specialize in helping families who are relocating to Cincinnati, Mason, West Chester, Blue Ash, Madeira, and any of the other regions in Southwest Ohio. It's great to have "feet on the ground" when you are looking to make such a move.
Plum Tree Realty has also become quite a favorite company for those who like to try to sell their home as a For Sale By Owner in Cincinnati as well. The reason for this is that we offer a $500 flat-fee listing to home owners who would like to sell as a FSBO, but they would also like to have a presence on the Cincinnati MLS search for homes for sale. Most FSBOs miss that exposure, but for just $500, we can help them get listed on the Cincinnati MLS and find buyers at the speed of ... the internet!
While most brokerages feel they have the best agents in Cincinnati, we truly believe that we are at the top. Many larger companies like Sibcy Cline, Remax (RE/MAX), Coldwell Banker West Shell, Comey & Shepherd, and others are at a size that makes it difficult for them to react to the markets and changing times at a great speed. Since Plum Tree is smaller, we are able to respond to market conditions rapidly and efficiently which gives us a disting market advantage. Remember: "It's not the big who eat the small; it's the FAST who eat the SLOW!"
The Art of Buying Fine Art - A few tips... February 2
"After spending a year with two listing agents and brokerages, I listed my home with limited representation to save the traditional listing commission (2-3%), use those savings to lower my list price and be more competitive in a slow market. If you're thinking of selling your own home and are comfortable with handling most aspects of the sale, you owe it to yourself to contact Chris Russell at Plum Tree Realty. They offer a flat fee MLS listing service, coaching and full service representation. You determine the level of service you need and the price paid. Their service is very professional, they do exactly what they say they will and both buyer and seller benefit from the reduced cost of selling your home."