Buying a Home
Thinking about buying a home? Our “Triangle” Purchase Plan will help you find the right home for the right price. We will help you assess how your lifestyle and life stage needs may impact the home or neighborhood that is right for you, analyze price trends and advance the right strategy for purchasing the home.
Before you decide on buying a home, it is worthwhile to determine the type that will best meet your needs for the next 3 to 5 years. An understanding of the types of homes and terminology used will help you search in the right direction.
We have identified 7 steps in the home buying process, each one representing a bench-mark between the start of the process and the purchase of a home.
1. Meet with us and refine your home goals. We are here to meet and discuss with you how you will find a home that will meet your needs. We will help you assess how your lifestyle and life stage needs may impact the home or neighborhood that is right for you. When thinking about your purchase needs, consider the following:
– Where do I want to live
– How many bedrooms am I looking for?
– How many bathrooms
– How large should the home and yard be?
– Do I want to buy a new or existing home?
– How much do I want to spend monthly on mortgage, insurance and taxes?
– Do I need move-in condition or can I make some improvements?
– How long do you plan on staying in this home?
– When do I need to be there by?
2. Get loan pre-approval. In our first meeting, Capital Estate Group will help you:
– Review your finances.
– Help you understand home affordability.
– Help you consider your financing options.
– Develop a plan for obtaining pre-approval.
Next, you want to talk with a lender. We can recommend an experienced lender for you. Your lender will work with you to optimize your mortgage payment schedule for your unique situation. In the end, you will receive a letter of pre-approval, which is what you need to move forward through the process of finding your new home.
3. Find your new home. Once we understand your budget and home preferences, we will help you find a home that meets your needs as a buyer.
Capital Estate Group will:
– Prepare automatic email updates.
– Narrow home options.
– Arrange for access to homes not publicly listed.
– Contact owners, tenants, and real estate agents to arrange showings.
– Organize a tour of top home candidates.
– Discuss home features and potential problems.
As always, we are focused on needs, using our knowledge and expertise to match needs with homes available for sale, at the lowest possible price.
4. Make an offer. Capital Estate Group has the analysis and negotiation experience and expertise to recommend an offer strategy and secure the best possible terms. We customize our process to evaluate the specific property, market and details of the sale. This allows us to construct a strategic offer.
The steps include:
– Preparing a Comparative Market Analysis (CMA)
– Writing the contract.
– Negotiating any counter offers.
– Placing an earnest money deposit into escrow.
Negotiation is often a back-and-forth process. We are very familiar with negotiation, and we will help guide you through it.
5. Arrange inspections. Capital Estate Group has a list of recommended, pre-screened professionals who will:
– Check the property thoroughly for current or potential problems.
– Point out the positive features of the property.
– Educate on the home’s current systems.
Some home inspections are conducted prior to contract presentation as a negotiation strategy. If relevant to your situation, Capital Estate Group will discuss this strategy with you before rendering your initial offer. Inspections sometimes beget the need for repairs. Again, we have a list of recommended service providers, and we can contact our pre-screened professionals for advice. If repairs are necessary, we will help adjust the contract terms, as necessary.
6. Move to Settlement. As with the contract offer in Step 4, there are individual parts to this step, including:
– Our recommendation of a settlement (title) company to conduct settlement.
– Securing hazard insurance — we can recommend insurance professionals.
– Our coordination of contract paperwork, including managing all parties.
– Final walk-through inspection, prior to settlement.
– Our representation at settlement, including last-minute questions, clarification of details.
7. Move In. Unless your purchase is an investment property, it is usually time to move in. Our service to you does not end at settlement. Contact us with questions, for advice, or to discuss maintenance projects, renovation and remodeling, and any new ideas you may have which could impact your home investment. Consider Capital Estate Group your resource, no matter what you need and when you need it.