Buyers

Whether it’s your first or your fifth real estate purchase, buying real estate can be daunting!  In order to make the best decision possible, it’s important to research the market and consider all your options.  But navigating the real estate world without help is nearly impossible – you need someone you can trust who can answer your questions. Below are some links that will help make your search easier – if you have ANY questions about a property or the area in general, please don’t hesitate to ask.

Buying Tips

Looking for a new home is one of the most exciting and challenging experiences.  Having a real estate professional that takes the time to understand your unique needs and lifestyle is important.  Dana Ward and her team work hard to not only find the perfect home for you, but also to handle every last detail of the purchase process, from negotiating the terms of sale to making recommendations for the best moving company in the Greater Miami Valley area.

Deciding to Buy

A home is the largest investment most people will ever make. So, how do you know if it’s the right time for you to buy your first home?

• There is never a wrong time to buy the right home. The key is finding the right home and taking the time to carefully evaluate your finances.
• A home purchase is an important investment in the path to long-term wealth.  Purchasing your own home is a great investment that can provide specific financial advantages: equity buildup, value appreciation, and tax benefits.  It’s also an automatic savings plan that renting does not provide.

Hiring the Best Agent

When you’re looking for a real estate professional to help you, know that above all else, the best agents put their clients first.  This is your dream, and your agent is your advocate to help you make sure that dream comes true.

Dana Ward and her Team will:

• Educate you about the current conditions of the market.
• Analyze what you want and what you need in your next home.
• Guide you to homes that fit your criteria.
• Coordinate the work of other needed professionals throughout the process.
• Negotiate with the seller on your behalf.
• Check and double-check paperwork and deadlines.
• Solve any problems that may arise

Securing Financing

Ultimately, your lender will pre-approve you for a certain amount, but YOU will decide what you’re comfortable paying every month.  Remember, your lender only sees your finances on paper.  It’s up to you to decide how much you’re willing spend and your budget for purchasing a home.

Be sure to follow these six steps to financing your home:

1. Choose a loan officer.
2. Make a loan application and get pre-approved.
3. Determine what you want to pay and select the best loan option.
4. Submit to the lender an accepted purchase offer contract.
5. Get an appraisal and title commitment.
6. Obtain funding at closing

There are many different ways to finance a home. Choosing what’s best for your home purchase is important.

Making an Offer

Once you’ve found a home that you love, the next step is making an offer.  This is an exciting step and emotions are in high gear once you’ve found that home you love, it’s important to remember that a home is an investment.  We will research similar properties in the neighborhood to assist you in determining the market value and fair price for your home.

The three basic components of your purchase offer are price, terms and contingencies.

1. Price is the dollar amount you are approved for, willing and able to pay.
2. Terms cover the other financial and timing factors that will be included in the offer.
3. Contingencies are clauses that let you out of the deal if the house has a problem that didn’t exist or which you weren’t aware of when you went under contract.  They specify any event that will need to take place in order for you to fulfill the contract.

Due Diligence

Just because you love a particular property doesn’t mean that it’s perfect.  In fact, this is where emotion has to deal with reason.  You’ll need a property inspection that will expose all the hidden issues.  Dana and her team make sure you know everything about a property before you sign closing papers.

• Your main concern is the possibility of structural damage.  This can come from water damage, shifting ground, or poor construction when the home was built.
• It’s the inspector’s job to mark everything that’s discovered no matter how big or small.  The inspector’s report may be long, but, things that are easily fixed can be overlooked for the time being.
• If you have a big problem show up on the inspection report, your agent will advise you to bring in a specialist.  If the specialist finds the problem to be too big, you might want to walk away from the purchase.
• Even if your home passes inspection, you’ll still need to buy a home owner’s
  insurance policy that protects you against loss or damage to the property itself and against liability.

Closing

You’ve made your offer and completed the inspection process, you’re headed to Closing!  But, in order to ensure that you don’t put your closing date, or your mortgage at risk, you have a few pre-closing details that you’ll need to be mindful of.

• Staying in control of your credit and finances.  If you are tempted to make any large purchases during this time, it’s best to talk to your lender first.
• Keeping in touch with your agent and lender, returning all phone calls and completing paperwork promptly.
• Communicating with your agent at least once or twice a week, and verifying with your lender that all mortgage funding steps are completed.
• Conducting a final walk-through of the home with your agent.
• Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.

Protecting Your Investment

Congratulations, on your new home!  The home-buying process is complete.  It’s now your responsibility, and in your best financial interest, to protect your investment for years to come. Taking time to perform routine maintenance on your home’s systems is always more affordable than having to fix big problems later.  And if you are going to make improvements don’t forget to obtain permits where required.  Not only will permits provide an assurance that the work was done right but it will also give future buyers of your home more confidence in making an offer at your asking price.

And remember, just because the sale is complete, your relationship with your Real Estate agent isn’t over.  After closing, your agent can still help you – finding contractors and repair services, and even tracking your home’s current market value.  The greatest compliment you can give your agent is the referral of friends and family.