ShareThisKnowledge Center
For Buyers
What is Takes to Buy a Home
With many important actions, deadlines, documents and players. The National Association of Realtors states it takes approximately 64 phone calls to complete a successful real estate transaction. When one considers the legal documents, negotiations and deadlines, buying a home requires a team of professionals who know what needs to be done at every stage of the process. Several of the more important aspects have been addressed below.
Real Estate Broker
There are likely more than 100 potential steps, processes, and actions in a successful home purchase transaction provided by Wade Perry and his team. While each transaction is different, some steps take minutes, hours or days to fully complete. The critical point is the focused attention to detail and skill required in a successful home purchase. For success, the Buyer needs a trusted advisor to lead them through the serious decisions and processes involved in one of their largest financial investments.
Wade meets with every Buyer to conduct an in-depth profiling session to help determine their needs and wants in their next home. This goes far beyond numbers of bedrooms and bathrooms. A discussion of neighborhoods, schools, commutes, location and sizes of bedrooms, HOAs and time table are just a few of the many items Wade reviews with each Buyer.
In addition to listening to his Buyers, Wade believes his coordination with other important parties; his
advanced credentials and his negotiation skills are critical elements in helping his Buyers achieve a
successful home purchase.
Lender
Unless a Buyer will be paying cash, the Lender will play a very significant role in the home buying process. It is imperative that the Buyer work with a financially strong Lender possessing a history and reputation for successful closings. A great Lender will check your credit score, and may be able to assist in strengthening it. The Lenders with whom Wade works invest the time and effort to educate his Buyers on the advantages and disadvantages of different types of loan programs. The peace of mind that comes with understanding your loan is priceless. It affords you the opportunity to pursue and purchase your home with confidence.
Property Search
The property search is where the Buyer will be most involved from a time perspective. While there may be dozens of homes in a Buyer’s price range, Wade is able to narrow the list down based on the feedback from his in-depth profiling session. It is important to visit homes at the low, middle, high and even above a comfort zone. This helps Buyers become educated on market realities or “what you get for the money.” Throughout the search process, active conversation regarding the relative importance of specific features will make it easier to select the best home.
Contract Negotiations
In choosing your real estate broker, there is one factor above all others you should consider: how well can your real estate broker negotiate on your behalf? Real estate negotiations include many different people and issues. It is always in your best interest to hire a broker specifically trained to handle the complexities normally associated with these types of transactions. As a Certified Negotiation Expert, Wade has been trained in advanced techniques and approaches. His training enables him to better help his clients achieve their goals.
Inspection
It is imperative, if at all possible, the Buyer be present for the Inspection. This is when the Buyer gets to learn how their future home works and more importantly its overall health. A high quality Inspector will take the time to educate the Buyer on how each of the systems operates. The heat, a/c, hot water, etc. are just a few of the systems they will cover. In addition, the Inspector will inform the Buyer about areas of concern. These are items needing to be addressed from a safety and maintenance standpoint. Finally, a thorough report will be prepared and delivered to the Buyer usually within 24 hours. Wade personally reads every Inspection Report and reviews it with his Buyers. It is important that Buyers know and understand exactly what they are buying in their next home.
Closing
Closing is the process by which title is transferred from Seller to Buyer. Before that can happen, however, there are many legal and financial details needing to be verified. While at a basic level, good funds must be delivered from the Buyer’s lender to the Seller’s bank; there are additional items to be covered. When the Buyer uses a strong lender, a reputable title company and a highly skilled real estate broker, the Closing
becomes a day of celebration.