The Process of Buying a Property
- I will Introduce Myself, My Qualifications, and Those of Jameson
- I will Answer Any Questions You May Have Regarding Qualifications
- I will Review How I Represent You and My Responsibilities to you
- I will Discuss Your Responsibilities to Me
- I will Explain Procedure of Choosing Properties and Setting Appointments
Once we find the property you would like to purchase:
Time is of the essence……….The market is very strong……..
We will sit down and go over the contract and the terms we would like to include, such as:
- All personal property to be included
- Financing terms
- Closing date
- Attorney and inspection terms
- Completion of necessary riders (lead paint, property disclosure, etc.)
- Any other negotiable items
- We will review the comps and determine the offering price
When completed, you will sign the contract.
I will contact the listing broker that we have an offer.
- I will then meet or discuss over the phone the terms of this offer
- The seller and the listing broker will review the terms of the offer to determine if and what their counter will be
- The listing broker will contact me to negotiate their counter offer- We may negotiate back and forth multiple times
Once everyone involved agrees on the terms of the offer:
- The contract is signed by the seller and all parties involved receive a copy.
- “Time is of the essence” - Receipt does not take place until we receive a copy, at which time, the “clock starts ticking”.
- Sellers and buyers contact their attorneys.
- Copies of the contract are forwarded to the attorneys for their review as outlined in purchase contract.
- Copies of the contract are forwarded to the lenders and condo associations, when applicable.
- An inspection may or may not be performed upon your request (as outlined in purchase contract). After which, any mechanical or structural defects of concern shall be negotiated with the seller to be remedied.
- Your lender/mortgage broker should be contacted to proceed with loan application as outlined in purchase agreement. Be sure to provide them with all necessary documents to complete your mortgage application.
- The listing agent coordinates any requirements by condo association, when applicable.
- You will provide, when applicable, to the condo association any additional documents, information, or funds.
- You will meet with the condo association, when applicable.
- The listing agent obtains certificate of insurance for condo, when applicable.
- I will provide your attorney with any additional documents they may request.
- As outlined in purchase agreement, terms of attorney’s approval, property inspection and mortgage requirement are met in a timely matter.
- 24-48 hours prior to close of escrow you will do a final walk-thru.
- Close of escrow takes place and moneys are distributed.
CONGRATULATIONS ON YOUR NEW HOME!!!!!!!
Note: Is important that all terms of the purchase agreement are met in a timely and responsible manner - or it may constitute a breach of contract.