Home Buying Process

Home Buying Process

Our Commitment to you is to help you buy your dream home, for the best price possible and find the best interest rate and finance options available, with the least amount of hassle and inconvenience.

Congratulations! Buying your own home is one of the smartest financial decisions you will ever make. For most Americans, the equity that they build in their home is their biggest source of wealth. I realize that buying a home can be a stressful undertaking. Whether this is your first home purchase or you’re twentieth, you want things to go as smoothly as possible with no last minute surprises. 

This guidebook is designed to familiarize you with how the whole system works, and make you as comfortable as possible about the home buying process. As your real estate agent, I will represent your best interests throughout the entire process. 

Why the Mortgage Process is So Important!

The first step is to meet with the mortgage company to be pre-approved for your loan (unless you are paying all cash). This first step is very important for several reasons. Once you are pre-approved, you can shop for your new home in confidence, knowing that you won’t have any problems getting the loan. Many buyers who skip this step and just go out house hunting are unsure and nervous when they find a home that they like, because they don’t really know for sure if they will be approved for the loan. 

Loan underwriters have specific rules and guidelines they must follow. Many would-be homebuyers have been dismayed and disappointed to find out 2-3 weeks after they enter a contract that the lender has turned them down. Please realize that one of the biggest fears a home seller has is that they will enter a contract with a buyer, prepare to move, and then find out that the buyer didn’t qualify. 

When you get pre-approved first, we will obtain a letter from the loan company stating the amount that you are approved for. When shown to a seller, the letter makes the seller feel more comfortable, and will add more power for us in negotiations. Many of the best homes can have several offers on them at the same time from different buyers. Often, the buyer that can show that they are already approved for their loan will get the house. The bottom line is that getting an Underwritten Approval for your loan first means stress-free home shopping AND more leverage with the seller!

You can use any lender you wish. I have enclosed a list of my favorite lenders that I have had customers work with in the past. They have proven to be very knowledgeable and competent and I am very confident that they will get the job done for you.

The home buying process can be complicated, and nothing will throw a wrench into things faster than a mortgage company that drops the ball. You may have already met with the loan officer. If not, here is a list of items you should bring to your loan application.

Check List of Items to Bring For the Loan Application

1) W-2 (2 years) & current pay stubs

2) Past 2 years pay history for Landlord/Mortgage Company

3) Employment information (2 year history)

4) All bank account numbers and balances

5) Last 3 month’s bank statements

6) Open loans – names, addresses, account #, balances, monthly payments

7) All information on any other real estate loans

8) Driver’s license or other photo ID

9) Self-employed: Last 2 year’s complete tax returns, year to date Profit & Loss and Balance Sheet

10) Certificate of eligibility or DD214 (VA loan only)

Why you should have representation as a buyer

1. Dedicated Representation: • As a client under a Buyer Broker Agreement, you receive my full, undivided attention and loyalty. This means I will advocate for your best interests throughout the entire buying process.
2. Expert Negotiation: • My expertise in negotiation ensures you get the best possible price and terms for your new home. I am committed to fighting for your interests and securing the best deal for you.
3. Access to Exclusive Listings: • With a Buyer Broker Agreement, you gain access to a broader range of properties, including those that may not be widely advertised. I can provide insights into off-market opportunities and exclusive listings.
4. Streamlined Communication: • A signed agreement allows us to communicate more effectively, ensuring you are promptly informed about new listings, market trends, and any important changes. This helps streamline the entire process and avoids any miscommunication.
5. Guidance Through the Buying Process: • The real estate market can be complex, especially for first-time buyers. With my experience and knowledge, I guide you step-by-step, from initial search to closing, making the process as smooth and stress-free as possible.
6. Comprehensive Market Analysis: • I provide in-depth market analysis to help you make informed decisions. By understanding market trends, pricing strategies, and neighborhood dynamics, you are better positioned to make a wise investment.
7. Personalized Service: • Every buyer has unique needs and preferences. I take the time to understand your specific goals and tailor my approach accordingly, ensuring a personalized and satisfying home-buying experience.
8. Full Transparency and Accountability: • Signing a Buyer Broker Agreement ensures transparency in the buying process. You’ll know exactly what to expect and can trust that I am accountable for my actions and decisions.
9. Protection from Dual Agency: • With a Buyer Broker Agreement, you avoid potential conflicts of interest that can arise in dual agency situations. I exclusively represent your interests, ensuring that your needs are never compromised.
10. Priority Access to Resources and Networks: • Benefit from my extensive network of trusted professionals, including inspectors, lenders, and contractors. This network can provide you with the best services, from inspections to financing.
11. Long-Term Commitment: • By signing an agreement, you have my commitment to go above and beyond to meet your needs, ensuring a successful and satisfactory buying experience that builds a relationship for years to come.
12. Peace of Mind: • Knowing you have a dedicated, experienced professional on your side brings peace of mind. You can trust that I will handle all the details, reducing stress and allowing you to focus on finding your dream home.

To Discover the Home Buying Process 

Call Devi at 801-807-9190 and schedule a Free No Obligation Consultation Today!