FAQ #8: How Do I Buy a Home in San Mateo County or the Silicon Valley?

FAQ: How do I buy a home in San Mateo County or the Silicon Valley? What goes on in the home buying process?

These are questions I hear often, from first-time buyers as well as buyers from other areas. Since real estate is practiced differently in different areas, even within the State of California, I developed my:

Strategic Buyers' Plan

For Single Family Homes

We are committed to providing quality service to all of our clients. To ensure you receive the best representation possible, following are steps I typically take to help buyers successfully purchase a home:

1. Arrange initial meeting with buyers to assess buyers wants and needs.
2. Educate buyers about the local real estate market.
3. Discuss pros and cons of various communities and amenities of each.
4. Discuss financing options; refer to top-notch mortgage broker when appropriate.
5. While formal lender pre-approval process is underway, stay in touch via phone and email about possible properties of interest, general market trends in particular areas.
6. Once buyers are pre-approved (as opposed to being pre-qualified) arrange tours to potential properties.
7. Educate buyers about the purchase offer form and the many items contained therein.
8. Fine-tune future tours to properties that have the most appeal.
9. Keep abreast of changing market conditions and inventory in area(s) of greatest appeal to buyers and communicate such to buyers.
10. When buyers have found a property they wish to investigate in depth, or wish to purchase, obtain and read disclosure package (typically 60-150 pages).
11. Give disclosure package to buyers for their review.
12. Answer buyers questions regarding disclosures or any concerns they have or refer them to the proper authorities.
13. Prepare a Comparative Market Analysis for property under consideration and discuss such with buyers.
14. Talk with listing agent to determine sellers’ motivation and special needs, if any, and status of any other offers.
15. Discuss pending sales with other agents, eliciting as much detailed information as possible.
16. Have buyers sign all forms in the disclosure package, as well as any additional forms necessary.
17. Obtain a formal pre-approval letter from the lender; have broker available by phone to answer any questions the seller or listing agent might have.
18. Write letter to sellers, introducing the buyers with the goal of making my clients stand out from any others.
19. Advise buyers of a price range likely to elicit a positive response.
20. Write a strong, clean, compelling offer; discuss options with buyers.
21. Present offer in person, to listing agent and seller, whenever possible.
22. Negotiate any applicable counter-offers or addenda.
23. Once in contract, promptly get contract and other necessary documents to lender and to the escrow handler.
24. Turn in buyers’ deposit check to escrow per terms of the purchase offer.
25. Arrange access to property for appraiser, other inspectors as outlined in purchase offer.
26. Meet all contract deadlines regarding removal of contingencies.
27. Stay in touch with lender regarding appraisal, when loan documents will be prepared.
28. Arrange time for buyers to sign all documents related to the purchase.
29. Attend sign-off with buyers; encourage lender/mortgage broker to be present, too.
30. Give phone numbers of utility companies, insurance agents, etc. so buyers can easily arrange services in their names.
31. Do walk-through inspection of property with buyers several days prior to close of escrow.
32. Obtain keys from listing agent and deliver to buyers as soon as property transfer has occurred.
33. Contact buyer 1-day after purchase/occupancy to make certain everything is satisfactory.
34. Check in 1-week and 1-month after purchase, to see if help is needed in any way.
35. Prepare file folder or CD disk containing copies of all contracts, documents, reports, etc. signed by all parties. Copy of the Settlement Statement is included, for ease at tax time.
36. Be available to buyers whenever they have a question, need a recommendation to a service provider or have any other real estate need.

As you can see, buying a property in our fast-moving, competitive market in San Mateo County and the Silicon Valley can be quite challenging and complex. Make sure you have the proper guide on your side, your Realtor®