Home Buying Process
Our goal is to understand, clarify, and prioritize your needs to ensure a smooth process, and enable the best possible decisions. We will answer any of your questions and introduce you to a list of resources available.
Deciding Your Price Range
In order to determine your purchasing power it’s important to consult with a qualified mortgage broker and obtain a pre-approval letter. Because of her exemplary service and proven track record of funding on time, we highly recommend Andrea Moore with Guild Mortgage. Once you have qualified for a loan, we will determine your price range based on the amount you are qualified for, and more importantly, the amount you are comfortable spending.
We will define the best process to view and select a home. We have worked with many different clients and have the experience to adapt to your schedule and needs.
Offer Presentation & Negotiation
Together, we will craft your offer to best highlight your needs and match the seller’s position. Our approach to negotiation will be to give you the best possible advantage and reach mutual acceptance in a timely manner.
Loan Application & Escrow
Upon acceptance of your offer, you will need to begin the loan process and deposit Earnest Money. We have several title and loan experts on our team to assist you. Our exclusive tracking system will manage the contingency periods, including the appraisal, repairs, and loan approval. We are focused on keeping you informed and prepared.
Inspections & Disclosures
You will have a period of time to inspect the property and review the disclosures before fully committing to your purchase. Our relationships with an extensive list of inspection and repair professionals allows us to provide you with any referrals you may need.
Closing & Possession
We are committed to ensuring a smooth transfer of ownership and continuing communication even after your transaction is closed.
Please consider us your first call to assist with any questions about your property or any needed contractor recommendations.
Searching For Your Home
Once you are ready to begin searching for a home, I will:
- Review your needs to get an idea of what you are looking for in a new home.
- If you are new to the Portland Metro Area, I will start by selecting several areas for us to tour in order to help you get a better feel for Portland’s neighborhoods and help guide you to the information you may want in researching those areas.
- Depending on the property and your needs, we may research a variety of information such as utility bills, schools, neighborhood information, future proposed projects etc.
- Search on our Regional Multiple Listing Service website for up-to-date information on each new home as it comes on the market.
- Preview all new listings in your profile daily and make sure you are aware of all new listings as soon as they are available.
- Network with other area Agents to find a Seller with a home that matches your needs.
- We will go out and view any homes you are interested in and I will answer any questions you may have about all properties of interest.
Writing An Offer
Before you write an offer, I will provide you with a list of comparable Sold properties and request the pre-approval letter from your Lender. I will obtain a copy of the “Trio” (tax data, deed, plat map) and review the following with you:
- Lot size, dimensions and visible easements
- Property use and zoning
- The legal description of the property
- Property details from tax data sheet
- The year the home was built
- The county’s valuation of the property
- Prior sales information on the property
- Public school attendance, area information, and School District contact numbers
- The Seller’s Property Disclosure
After reviewing the above information, we will be ready to write an offer to purchase the property. Once the offer is written I will give you a receipt for your Earnest Money deposited and arrange my meeting with the Agent and Seller to present your offer.
Reaching Mutual Acceptance
After the offer is presented, negotiations will begin. I will present and negotiate any counter offers to the Seller’s Agent. The following items may be reviewed for negotiation:
- Sale price
- Earnest Money
- Down payment
- Loan type and qualification
- Closing costs
- Title issues
- Personal property
- Inspection period and types
- Repairs and replacements
- Closing date
- Possession date
- Title Company
I will then request that the Seller provide you with any Homeowner Association information including bylaws, fees, meeting minutes, etc. Fully signed documents will be sent to the Seller. Copies of the sale agreement will be sent to you, the Lender, and Escrow.
You will be informed of all timelines and obligations in the sale agreement and provided with copies of documentation regarding your offer and purchase. We will have reached mutual acceptance when both you and the Seller have agreed on the terms of the offer.
After Mutual Acceptance
After mutual acceptance, the following will be completed:
- Earnest Money will be deposited with the Escrow Company, according to the terms of the purchase agreement.
- Agreed upon contract and attached documents will be sent to Title, Lender and the other Realtor.
- Confirmation and application for items such as a Home Warranty, CC&R, HOA, Preliminary Title Report.
We will then coordinate home inspection details. I am prepared with a list of home inspectors that my clients have used in the past and have proven to provide excellent service. It is important for you to attend home inspections, especially the last hour. At the inspection, you will learn about: The condition of your home & maintenance and safety instructions such as, where to turn off utility services in an emergency, etc.
During this inspection period you will have time to review and approve the CC&R, HOA, etc. You will also review and approve Seller Property Disclosures.
After the home inspection, we will determine a response to the inspection report and a strategy to approach the Seller. I will negotiate through the Seller’s Agent on your behalf for repairs and/or remediation.
We may contact a contractor to confirm the inspector’s findings and estimate repair costs. I will give you a list of contractors whose work has consistently exceeded my clients expectations.
Once we are underway with any necessary repairs, I will:
- Ask the Seller for verification when the repairs have been completed (I also highly recommend your inspector re-inspect the property).
- Coordinate with the Seller and Appraiser for the appraisal to be completed.
- Contact your Lender to confirm the loan process is on track.
- Verify with your Lender the results of the appraisal.
- Assist in answering your Preliminary Title Report questions with me and/or the Escrow Officer.
- Request and review with you the closing figures from your Escrow Officer.
- Remind you to place Homeowner’s Insurance on your new property.
- Remind you to place utilities in your name.
- Make sure the Home Owner’s Warranty payment request is submitted to Escrow, if required, and the Warranty is in place.
- Coordinate and attend your document signing with the Escrow Officer and you.
- Secure the keys to your new home and follow-up with any questions or concerns.