I am very happy to be working with you and
As we move further along in the process, I will get into more depth & detail with you about the process, but here a few things I would like you to be aware of:
I will be there to walk & guide you through the entire process from beginning to closing. As my client I have an obligation to provide you with the best possible service & advice. I work for you not for the seller, so I am going to try to negotiate the best possible price & situation for you.
I suggest we approach the buying process in 4 stages:
Evaluate Buyer’s wants & needs:
Pre-qualify Buyer to ensure that Buyer can either obtain the proper mortgage or has the required cash purchase funds available (I can assist with finding the right mortgage).
Select an area & analyze that segment to make sure that there is inventory that matches Buyer’s needs.
Decide on parameters, set up a daily search that will identify all houses that meet Buyer’s criteria, & auto eMail to Buyer, so no possibilities are missed.
Prepare a Segment-specific Comparative Market Value Analysis (CMA) for a better understanding of the values in the desired market segment.
Buyer to sign appropriate forms including but not limited to: Agency Disclosure Form, Lead Paint Disclosure Form (if applicable), Covid-19 Disclosure Form, & Fair Housing Form.
The above services will require Buyer to sign an Exclusive Right To Represent Agreement (note: Buyer is not required by law to sign this, Buyer has the right to use other agents).
Start property search:
Select those that best meet Buyer’s needs.
Choose properties to view in person (initial drive by, followed by walk-through).
Provide all information on property, including correct taxes (from Receiver of Taxes), legal square footage (from Assessor), Certificates of Occupancy (from Building Department), check to see if there is a buried oil tank on the property, get the septic drawing & information from the Board of Health (if applicable), etc.
Prepare property-specific Comparative Market Value Analysis (CMA).
Obtain pre-approval letter.
Make offer (must be in writing & include a pre-approval letter in the exact amount of the offer (this is important). Or if cash provide Proof of Funds (make sure the account number is blacked out). Buyers are permitted to make offers on multiple properties at the same time. Making an offer is not binding. Buyers can only sign 1 Contract at a time though.
All Offers & Counter-Offers must be in writing.
Final Acceptance Offer-must be in writing.
Prepare Memorandum of Agreement & distribute to all the parties. Should be written on the Listing Broker’s Letterhead. Include UID#’s for both brokers & salespersons.
Schedule Buyer’s inspection (if necessary-highly recommended).
Seller’s attorney writes the Contract & sends it to Buyer’s attorney.
Buyers sign the Contract & prepare Earnest Money Check & Buyer’s attorney sends to Seller’s attorney.
Contracts fully executed-means that both sides have signed the Contract & the earnest money check has cleared & both attorneys have received a copy of the fully executed Contract.
Listing Agent changes MLS status to: Pending-print out for the file.
Schedule Bank appraisal.
Buyer’s Commitment Letter.
On the morning of the Closing (or the day before), do a walk-through of the property.
This is important to make sure the Sellers left it as the Buyers expected.
This is the Buyer’s last chance to renegotiate derogatory items.
Walk around the house & carefully inspect it.
Walk through the inside, going into every room & area, carefully observing.
If anything can be opened/closed or turned on/off, do it & double check that it works properly.
Make sure nothing is broken.
If there is any debris left by the Seller or broken items, take a cell phone photo & bring it to the Closing.
It should be brought to the Buyer’s Attorney’s attention for re-negotiation.
Usually it’s easy to resolve these issues.
Buyer should contact all utilities including: Electric, Cable, Oil/Propane, etc. to transfer billing as of the date of the Closing.
It’s a good idea to get a final reading of any meters during the final walk-through.
Take a cell phone photo of the meter reading. Make sure it’s legible.
Go to Closing, get any additional paperwork signed (if necessary), pick up commission check, bring to office.
Take a copy of the HUD Document & put it in the file.
Listing Agent changes MLS status to: Sold-print for file.