As of 2017, according to the National Association of Realtors,
87% of home buyers purchased their home using a real estate professional.
Agents, like Karen and Mike, have the neighborhood expertise, network, and negotiating know-how buyers need to find the right home at the right price. Additionally, a seasoned realtor will pave the way to get you over the hurdles to a successful closing.
BEFORE THE SEARCH
There are a few decisions you’ll need to make before you begin your search.
First and foremost, sit down with our team to discuss what you’re looking for in a home, areas of interest and what you can afford. It’s a good idea to know your credit score and compile the necessary documents you will need for a lender. The Irace Group can put you in touch with one of the lenders on their team that will help you through the pre-approval process. Obtaining pre-approval prior to shopping helps buyers understand what they can afford and only see those properties that fall within their budget. Additionally, sellers look more favorably upon offers that include an up to date pre-approval letter as it shows the seller that the buyer can afford the property and they are in good standing with a lender.
Finding the home that’s right for you is a priority for The Irace Group. Searching communities of interest, working within the scope of what the buyer can afford and the criteria they desire is the basis for a successful property search. In addition to neighborhood, price, and room specifications, buyers need to be aware of property taxes, quality of schools and area amenities.
Once you start narrowing down your choices, it’s time to begin looking at properties. As you tour a property, providing feedback to your agent is essential. Your likes and dislikes will assist in narrowing down the search. The more your agent knows, the more they can work their own network and the MLS to find your new home. Karen and Mike will provide you with a showing packet containing information on each home you see, complete with photos that you can record impressions and details and keep as a reference.
When a property piques your interest, your agent can research the home and obtain crucial information regarding the age of major mechanicals and updates, as well as any issues found through disclosures.
MAKING AN OFFER
So, you have found THE ONE! In this competitive market, you may need to be prepared to react quickly. The benefits of working with a highly experienced team become very apparent when the time comes to make an offer. Karen and Mike will provide a detailed market analysis and specific property details to determine an appropriate offer. Your offer will include price, amount of earnest money, down payment and length of the loan, any sales contingencies and closing date. The Irace Group will keep you in the loop throughout the negotiation process, offering advice and guidance every step of the way.
Once your offer has been accepted and the contract has been fully executed, the clock starts ticking. Earnest money must be delivered in the proper form (often a certified check is required), the home inspection must be immediately scheduled and performed, your real estate attorney must be notified to begin attorney review, and your lender will begin the loan process including scheduling an appraisal. Through it all, Mike and Karen will remain at the helm to guide you along the route to a successful closing. You will also have close contact with your attorney and lender as the wheels turn.
Once all legal, loan and contingency requirements have been met, your lender will advise your team of a closing date. Your attorney will notify you of the arrangements including date, time, location and required documents. Your lender will provide a closing summary which includes all closing fees and expenses, as well as the amount you should bring to closing and in what form. Just prior to closing, your agent will schedule a final walk through of the property. This allows you the opportunity to verify the house is in the agreed upon condition. Your attorney should be notified immediately if anything is amiss.
At the actual closing, you can expect any number of participants including both attorneys, buyer and seller agents, the sellers, loan officer, and title coordinator. Be ready to sign your signature and initials; you’ll be doing a lot of it as your attorney summarizes the documents you will have to execute in order to close the deal and receive the keys to your new home!
It’s important to note that full service and conscientious realtors like Karen and Mike are always available to answer any questions or concerns you may have after the sale. With the Irace Group, you are a valued client for life.