The Home Buying Process and Why You Need an Agent

1. Discuss Buyer Agency and What It Means for You
   Quiz:  Do you know the different types of agents or agency in Maryland and why this information is vital to you in the home buying process?  If your answer is NO, please contact me and I will be happy to explain why it is important to have a qualified REALTOR® representing you.
   
   
2. Determine Needs & Desires in a Home
   Homework Assignment – make two lists:
   List #1 – items your home MUST have
   List #2 – items that you would LIKE to have
   
   There IS a difference and you should be prepared to know which items would be “deal breakers” and which ones won’t.
   
   
3. Determine Purchasing Power
   Homework Assignment - make another list:
   List #1 – your current monthly bills
   List #2 – your budget for luxury items (restaurants, entertainment, etc)
   
   At this time, it is important to discuss how much you would be comfortable spending on a mortgage if you were to be out of work for any length of time or an emergency should arise.  The unexpected happens…but, if you prepare now, you won’t be worried about losing your home if it does.
   
   
4. Mortgage Approval
   Homework Assignment – Be a SERIOUS home buyer…find a local lender you trust and get PRE-APPROVED for a mortgage. 
   
   Why should the lender be local to your area?
   Simple.  You want someone who knows the local economy, knows the mortgage programs offered in your state, will be accessible when needed, is willing to build a great rapport with your agent and will be responsive to your needs during the home buying process.  All of these factors will go a long way to make the process smoother and get you to reach your goal of home ownership!

You will notice that so far, I haven’t spoken about searching for a home or previewing homes.  The reason for this is simple…you need to be prepared and well informed before you preview homes.  By doing this, you will take a lot of the guessing game away from the home buying process and a lot of the heartache that comes with not being prepared.  If you would like assistance, please contact me! 

1. Preview Homes
   Take a tour of my website, email me, or call/text me at (410) 258-5123, to schedule an appointment to begin your home search.
   
   
2. Make Offer to Purchase
   Yeah!  This is getting exciting, isn’t it?  There are important questions raised during this time…
   How much have similar homes sold for in this area? 
   Am I offering too little? 
   Too much? 
   What happens if they reject the offer?
   What happens if they counter offer?
   WHAT HAPPENS FROM THIS POINT FORWARD?
   

But wait…there’s much more to this process…

1. Contingencies:
   a. Home Inspection – should you have one and why?
   b. Financing – how do you keep your lender informed?
   c. Other Contingencies – what other items could stand in the way of the sale and why?
   
   
2. Contract Acceptance
   WOOHOO!  Your contract has been accepted…NOW WHAT?
   
   
3. Home Inspection
   Do you know what happens during the inspection? 
   What the inspector looks for? 
   What information about the house your inspector can give you that will be important in the future? 
   What items need to be addressed immediately and why?
   
   That’s where I come in…I will be with you through the inspection, negotiate items to repair and guide you through the experience.
   
   
4. Select Settlement Attorney
   
5. Arrange Termite Inspection
6. Obtain Hazard Insurance
7. Contact Utility Company
8. Pre-Settlement Inspection
9. Settlement/Close escrow...or as I like to call it "the key ceremony" :)
10. Moving Day!!!!