Part 1
The Home Search
Step 1 | Buyer Consultation
Establishing the Partnership: The process begins with partnering with a Realtor (ME 😉) you can trust to lead you through the process. We conduct want to understand your "wish list" and “non-negotiables”
We then want to help you with your Pre-Approval process and giving you exclusive access to homes in our MLS (multiple listing service)
Throughout the home search process we will discuss the homes you are looking at to evaluate if they are options for your to purchase with your loan, that the home fits your needs, and that the homes value is in line with the current real estate market.
Step 2 | Pre-Approved vs. Pre-Qualified
Pre-qualified: Filling out a loan application and providing your financial information allows the lender to issue you a pre-qualified letter based on the information you provide.
Pre-approved: However, once you provide your bank statements, w-2's, tax returns and all the other needed documents to verify your application information the lender will then be able to provide you a Pre-Approval
Obtaining a formal pre-approval letter transforms you from a "browser" into a "buyer." In the eyes of a seller, a pre-approved buyer represents a low-risk, high-probability closing. This status is often the deciding factor in multi-offer scenarios where certainty is as valuable as price.
Step 3 | Loan Do’s & Don’ts
To ensure your loan remains viable from application to settlement, you must adhere to strict financial discipline.
Helpful Strategy (Do’s) - Common Mistakes (Don’ts)
DO save and submit all future pay stubs and bank statements.
DO NOT make any large cash deposits.
DO keep copies of all documents submitted to processing.
DO NOT make any large purchases (e.g., a new car).
DO pay all debts and loans on time.
DO NOT charge up your credit cards.
DO continue your current employment status.
DO NOT co-sign a loan for anyone else.
DO speak with your lender before any financial changes.
DO NOT change bank accounts or apply for new credit cards.
Step 4 | Search for a home
It is now time to start looking at homes. There are several different ways you can search for homes. Let’s break down your options....
ON-LINE HOME SEARCH: You can search for homes on the internet and on the large home websites. If you find something you like on those websites you will want to text me the address so I can verify the home is in fact for sale. Some homes you see on those websites are actually no longer available or have incorrect information. You can also search for homes on our website at www.crossgrouphomes.com that pulls homes from the MLS and is updated every 15 minutes.
AUTOMATIC PROPERTY UPDATES: Our system can send you alerts when new homes come on the market or of any price reductions. We will put in the criteria you are looking for and send you a list of only the homes in your price range and with the specifications you are looking for
OPEN HOUSE SEARCH: When at open homes tell the person: you are working with us and give them our information.
NEW CONSTRUCTION: If you are interested in looking at new homes tell us ASAP. WE MUST TAKE YOU to the new home builders office to be allowed to represent you.
HOMES NOT ON THE MARKET: We will search for homes that fit your needs that are not on the MLS. Private sales, coming soon homes, exclusive listings, etc.
SHORT SALES - FORECLOSURES: We have access to all short sales and foreclosures. We can discuss if this is a good option for you
RELOCATION: If you are planning to move out of the area or out of the state - our relocation program can match you with an amazing Realtor anywhere around the world.
Step 5 | Viewing Homes
Once you find homes you are interested in let’s discuss them.....
Loan Verification: When interested in a home you see online you will first want to send me the address so I can confirm the home you are looking can be purchased with the loan you are buying with
Reports & Disclosures: Some homes may have additional information or even reports and disclosures available and I can provide you with all that information.
Neighborhood Research: You will then want to do a drive by of the home and evaluate the neighborhood.
Viewing The Home: Once you find a few homes that meet what you are looking for it is time to see them in person. We will go through the property and look at all the good and bad things to be aware of before you decide to write an offer on a property. We will continue this process until we find “The One”
Step 6 | Writing an offer
Once you find the home you want to write a offer on, we will discuss your options. Purchase price, timeframes, and several other offer terms.
Once an offer is sent to the seller they will have 3 options. They can (1) accept your offer how it is (2) reject your offer with no other information or (3) Counter your offer changing terms that were in the original offer. If they counter terms you will then have a chance to also accept, reject or counter back different terms. This can go on and on until you both agree or decide not to move forward.