A buyer’s agent WORKS ONLY FOR THE BUYER. A buyer’s agent has fiduciary duties to the buyer, which include reasonable care, undivided loyalty, confidentiality and full disclosure. However, in dealing with sellers, a buyer’s agent must act honestly. In dealing with both parties, a buyer’s agent may not make any misrepresentations on matters material to the transaction, such as the buyer’s financial ability to pay, and must disclose defects of a material nature affecting the physical condition of the property which a reasonable inspection by the licensee would disclose.
The Home Finding Process
What we will do to help you through the home buying process…
• We will work with you to help you get pre-approved for a mortgage, if necessary. Sellers and their agents know that a pre-approved buyer is serious and prepared to close on a property quickly.
• Provide immediate access to any new listing that meets your search criteria.
• E-mail, fax, or distribute your specific home requirements to top producing agents in the area alerting them we have a qualified purchaser.
• Set you up to receive an automatic email of all properties that fit your buying criteria.
• Preview all new listings, Internet listings, Open Houses, and For Sale by Owners that suit your home requirements.
• Provide a comprehensive market evaluation of the properties you choose to view.
• Offer step by step communication of all processes leading to the transaction closing.
• Provide consultation and recommendations regarding your purchase offer, with terms approved by you.
• Negotiate the right price for you.
Shopping for a Lender
A very important part of purchasing a home is finding the right lender. Below are some characteristics you should look for when choosing a lender. Also below are some things to be aware of when choosing a lender.
Questions to ask while shopping for your lender…
• What is his/her reputation within the community?
• How many loans do they close each year?
• Is the company well known in the area? How long has the company been in business?
• Does the lender have access to a wide variety of loan packages?
• Can the interest rates be locked in and for how long?
Things to be aware of when shopping for a lender…
Quoted rates over the phone are rarely locked prices. This is one way the lender gets you to come to his office. Rates can be subject to changes unless they are predetermined for a specific period of time.
Interest rates can change daily. A quote you get today may not be available at the same price tomorrow.
The interest rate you were quoted over the phone may not be a program that will fit your needs or situation.
Many lenders will discount their posted rates for well qualified customers.
Stepping Through the Loan Process
Pre-qualification/interview
Application interview
Order documents
Lender obtains all pertinent documentation
Loan submission
The loan package is assembled and submitted to the underwriter for approval
Documentation
Supporting documents come in
Lender checks on any problems
Request for any additional items are made
Loan approval
Parties are notified of approval
Documents are drawn
Loan documents are completed and sent to the title agency
Borrowers come in for final signatures
Funding
Lender reviews the loan package
Funds are transferred by wire
Moving Checklist
| Send change of address cards to Post office Charge accounts Subscriptions Friends / Relatives Disconnect utilities Cancel deliveries Transfer membership |
Transfer bank accounts Checking Savings Safety deposit box Notify insurance companies Obtain medical records Miscellaneous |
