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The Home-buying Process Using Buyers Brokers Only, LLC• The homebuyer who chooses to work with Buyers Brokers Only, LLC begins the home-buying process with a free, no-obligation initial consultation where you will meet with one or both of our owners, Richard J. Rosa and David S. Kres. We can meet at our Haverhill-MA office or a location that is convenient to you. Rich Rosa and Dave Kres are not only real estate brokers and members of local, state and national associations of Realtors®, but also are experienced lawyers. • At the free initial consultation we'll discuss and explain our exclusive buyer agency, what, if anything, you have done so far in your home search, the communities you're interested in, your search time table, the type of home you want to buy and your price range. We'll discuss real estate services we provide, and we'll also explain how we will provide legal counsel through one of our law offices, and all of our services are provided at no additional cost to you, the buyer. We split the listing agent's commission paid by the seller, so you don't pay us a penny. • If you also have a home to sell, at your request we can refer you to a competent, professional listing broker in your area. • If after the free initial consultation you decide to take advantage of our professional services, we'll enter into a buyer agency agreement and a separate agreement for the legal portion of our services, all at absolutely no additional cost to you. We'll also provide you with various worksheets to use to aid in your home search, as well as other useful home-buying information. • The next step is for you to get pre-approved for a mortgage from a lending institution. This process includes completing paperwork for a lender that will then issue a pre-approval or comittment letter. Such a letter will let sellers know you are serious about purchasing and financially able to purchase a home. • If not already, we'll then sign you up for free property alerts by email. This service we provide for free delivers you daily emails of homes for sale with the features you want, in the communities you're interested in and within your price range. The service not only delivers emails with new listings, but also lets you know about price changes. • We'll also do a search of the Multiple Listing Service (MLS) based on specific details you provide, so you can find exactly the home you want in a particular price range. We'll also review for sale by owner (FSBO) Web sites, newspapers and discount brokerage Web sites. • The next step is for you to drive by homes that interest you. This step is more important than one might think because many listings that meet you criteria may be in locations or near other homes that do not appeal to you. If any of the homes you drive by appeal to you from the outside, we'll set up an appointment to go inside. One of our exclusive buyer brokers will be available anytime to answer questions and advise you during this step and will even drive by homes with you if you desire. • If the houses you're looking at are not what you had in mine, we'll discuss your wants and needs again and make any necessary adjustments to your search criteria. Our goal is to find a house that meets your needs at the best possible price. • Once you find a home you are interested in buying, we will conduct research to be sure the asking price is in line with the market value for such a home. We may even be able to provide you with the home's sales history. We'll also discuss a negotiating strategy in order to obtain the best possible price for you. • At this point we will draft an Offer to Purchase the home. We will negotiate the price with the seller or the seller's agent with your best interests in mind. As lawyers, we are experienced in the negotiating process, and our goal in the negotiations will be to save you money and get you the best possible value. We also will be sure the Offer to Purchase has the necessary contingencies. Our loyalty is to our client, the buyer. We keep information about you confidential, but we will use any information we learn about the seller or the property to strengthen your negotiating position. • After your offer is accepted there usually is a period of up to two weeks to perform inspections and other tests. The importance of a thorough inspection cannot be underestimated. Purchasing a home is a huge financial commitment. The outcome of an inspection may change your mind about the home or the price you are willing to pay, or it may require certain language be included in the Purchase and Sale Agreement. • If you are satisfied with the outcome of the inspection and ready to more forward, we will draft or review a Purchase and Sale Agreement and negotiate changes. The "standard" Purchase and Sale Agreement, commonly referred to as the P & S, is written to benefit the seller. That is why it is so important to have an attorney make changes to the Agreement, so your rights are properly protected. Please check out our legal tips for homebuyers. • Next you officially apply for a loan, commonly referred to as a mortgage. The lender orders an appraisal of the property, and, after the appraisal is completed and the lender is satisfied with the outcome, a new commitment letter, or approval letter, is issued. • Before the property can close, there are a few house-keeping tasks (pardon the pun) that must be completed. You will need to obtain property insurance (also know as hazard insurance), put the home's utilities in your name and secure a bank check for any money owed at closing. The closing attorney (lender's attorney) will provide the amount of the bank check. • The closing usually takes place at the closing attorney's office or the Registry of Deeds in the county where the property is located. Prior to closing we will review the HUD-1 Settlement Statement and certain other closing documents. You will need to bring your driver's license or some other form of identification with you. The closing attorney likely will provide a list of acceptable identification. You will sign many papers. We will explain to you, along with the closing attorney, the significance of each document you sign. The closing usually takes about an hour. When the closing is over the keys are turned over to you (we strongly suggest you immediately have the locks changed), and you're the new owner of a home. • After the closing we are available to answer questions you might have or to provide any advice you might seek. We hope to build a long-term, professional relationship with all our clients. For more information review our frequently asked questions section or contact us anytime to set up a free, no-obligation consultation, so you can meet us and learn more about how we can assist you in obtaining a great home and a great deal. Call toll free (1.877.529.7672) anytime to schedule a free consultation. You can immediately sign up to search homes for free and receive free property alerts by email. These property alerts only contain the types of property you want in the locations your interested in. Yes, it's absolutely free. |
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