Congratulations! 🎉 You've made the decision to buy a new home! 🏡
We are so happy to represent you in the purchase of a new home! 🤗 To begin the process, we would recommend that you find out how much you can spend purchasing a new home. 💰 Our Team can put you in contact with mortgage experts so you can be pre-approved for a mortgage even before starting the house-hunting process. Although the pre-approval is not a final loan commitment, the pre-approval letter will demonstrate your financial strength and ability to go through with the purchase when you are ready to make an offer. 📜💪
Kim Cannon & Co can provide you with detailed information on almost any property currently listed for sale. 🏘️🔍 This includes Sotheby's International Realty listings as well as all other real estate broker listings on the Multiple Listing Service. In addition, we can also provide information on homes posted online such as a 'Coming Soon' on Zillow, Realtor.com, or any other site. We can even guide you on how to work with "For Sale by Owners." 🌐🏠
During this initial phase of your home search, you may wish to begin the process of selecting a local Real Estate attorney to represent you once you have an accepted offer on a home. Our Team can provide you with a list of local attorneys that specialize in real estate. 📋🏢
The next step... you've found a home and you're ready to make an offer! 📦📝
If you've decided to make an offer, we will provide you with detailed Market Data, comparable sales, and guidance to help you decide how much to offer. 💡 Your initial offer must be in writing and include key terms noted below:
- Amount you are willing to pay 💵
- Mortgage amount, Downpayment 💳💰
- Closing date 🗓️
- Contingencies such as Mortgage and Home Inspections 🏠🔍
- Specify inclusions or exclusions such as appliances, window treatments, or lighting fixtures 💡🪟🏡
- Review of Seller's Disclosures & Lead Paint Addendum 📃🎯
- We communicate your offer to the Listing Agent and begin negotiations. 💬💼
You have an Acceptable Offer! 🤝
If you have successfully negotiated an offer, the fully executed contract is then sent to your attorney and that of the seller's to begin 'Attorney Review'. ⚖️ During A/R, both sides, buyers and sellers, can terminate for any reason including a seller receiving a better offer or if you, the buyers, change your minds about the house and no longer wish to purchase. 📜📆
Once through A/R, the house is considered to be Under Contract. 🏡📝 You and the sellers are bound to the contract unless an issue with home inspection arises or if you're denied a mortgage during the allotted mortgage contingency time period. Home inspections are generally scheduled immediately following A/R. Inspections can include General Home Inspection, Pest/Termite inspection, Oil tank sweeps, Sewer line scopes, Chimney inspections, and more depending on what is discovered during the main inspection. Home inspections can result in further negotiations of repairs or credits of significant issues discovered. 🔍🔧
What to expect at the closing! 🎉🏠
Just prior to closing or sometimes on the actual closing day, a final walkthrough is completed. We would accompany you to a final walkthrough of the house to make sure it is empty of the seller's belongings and to make sure that everything is still in good working order since the time of home inspection. 🚶♂️🏠
The closing itself is a formal process where all parties sign all of the necessary documents needed to complete the transaction so the property is transferred from the seller to you. The seller receives payment for the home and you receive the house keys! 🏡🔑 From the amount credited to the seller, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed, and ultimately filed with the local property record office. 📄📝🏢
The above may all sound like a lot to remember. As your real estate agents, we are here to guide you through the entire process from start to finish! 🤗🏡👏