PattiMace.com

 Once your offer has been accepted on the home you would like to purchase one of the things that is suggested is for you to get a home inspection. What is a home inspection? Well, one of the best ways to understand the property’s condition is to hire a qualified home inspector. It is recommended you contact and interview at least two to three different home inspectors in order to find one that will meet your individual needs.  Inspectors are familiar with the building codes and will help look for flaws in the home your are purchasing.

The following are some important questions to ask before making your final selection;

1. How long have you been in the home inspection business?
2. What are your qualifications?
3. Are you a member of any inspection organization or association?
4. How many resale home inspections have you completed?
5. If I hired you today, when would you be available to complete my inspection?
6. What will the inspection cover?
7. How long is your average inspection and how long after it’s completed will I receive my report?
8. How much will the inspection cost?
9. May I attend my inspection? May my real estate agent also attend?
10. Do you provide estimates for repairs and improvements?
11. Can I contact you post-inspection for any questions?

These are just a few questions and you may have more but hopefully this will help you when it is your time to need a home inspection. 

Talk to you soon, Patti

1. Homes are bought by comparison. I have a large inventory at my disposal through MLS while you have an inventory of one.

2. I am very familiar with competitive houses so I can help you position your home well.

3. It is hard negotiating for yourself. I have lots of experience in writing contracts and can negotiate aggressively on your behalf.

4. Buyers are not always forthright about their financial situation. I insist on pre-qualifying before I even bring you an offer.

5. My lender contacts and mortgage experience help buyers get the financing they need.

6. Most buyers don’t want to tell the seller why they don’t make an offer. I can probe the buyer or his agent for that information.

7. Any follow up you do with a buyer can be seen as desperation. I follow up as part of my job so that you are not perceived in a compromising light.

8. I can showcase your improvements better so that you don’t appear like you are “selling.”

9. Most sellers who spend their time as a For Sale By Owner end up by listing in the end. A recent NAR survey found that only 11% of sellers nationally ended up selling by owner. Why spend your time and money if in the end you will hire a REALTOR?

10. Unqualified buyers can tie up your home. I make sure that doesn’t happen.

11. Personality conflicts with a buyer can get in the way. I come between the buyer and the seller so that personalities don’t enter in.

After looking at the comparables for the area a reasonable offer for the home of your dreams is agreed upon and your realtor will submit to the sellers real estate agent. Once submitted, the Sellers agent will come back with an accepted offer, or the negotiations will begin until an agreement is met.  With Foreclosures or Short Sales the time frame will be longer. Foreclosures can take up to 60 days from offer acceptance to closing.

Now that the offer is accepted the contract is sent over by your realtor to the Mortgage Broker or Bank and they will start the loan completion process.  Up until now you as the buyer have a pre-approval letter.  It is your mortgage broker/bankers’ responsiblity to stay on top of getting your loan closed.  There will be various documents needed to complete this process.  Whatever you do, do not go purchase anything on credit that might change your approval status. 

While this is going on there is an option period that you as a buyer can pay a small fee normally $10 a day for 10days.  This will give you time to have the home inspected to ensure there is no costly damage, such as foundation or roof repairs needed and to ensure no termite damage.

Once the inspection is done and the loan is approval process is completed  the mortgage folks will order an appraisal, and the title company orders the survey,

This process is normally done within a 30 day period unless it is a foreclosure and then it can take longer. Before you go to closing your realtor will receive a HUD statement which breaks down the expenses for closing on the home and will let you know what $$ amount is needed. There are a lot of documents that must be signed so expect the closing to take about 45 minutes.

Heres to wishing you luck on your new home purchase, give me a call I will help you….www.pattimace.com or pattimace@sbcglobal.net.

Talk again soon,

Patti