Our outstanding work –
your outstanding home!
Buying a home is more than just driving around looking at homes with “For Sale” signs in the yard. Don’t wait until you’ve found your dream home before figuring out what you can afford. Even if you have owned a home in the past or own right now, unless you are paying cash, a lot has changed in the lending world. Here is a strategy to help you avoid stress and disappointment and make it easier to proceed toward your new home:
Since you will need a lot of documentation for your loan officer, start compiling your financial situation related documents now. These include bank statements, paycheck stubs, deeds for any property you own, credit card account balances, retirement accounts, two years of tax returns, etc. Put this information in a folder for the lender. It would also be a good idea to have a credit report on each buyer so that you will have time to clear up any discrepancies, errors or issues.
Determine How Much You Can Spend
Before you ever talk to a lender it is extremely helpful to figure out your net worth: your assets (cash, land, car, valuables, stocks, bonds, savings, and retirement accounts) minus any liabilities (loans, credit card debt, current monthly bills). Now ask yourself how much you have for a down payment. What kind of monthly payment can you handle/are you comfortable paying?
It’s time to talk to a lender. The loan officer will have you fill out an application and provide supporting documentation (this is that financial folder we talked about in item 1) to show the bank that you are a “good risk” for the loan. Even with the tighter lending guidelines, there are still a wide variety of loans available and your loan officer may have a lending solution that you had not thought about. We recommend talking to a couple of different lenders to compare products.
Sell Your Existing Home
It’s always better to sell your home, or at least have it “under contract” before shopping for another home. You will be in a much stronger negotiating position if you don’t have to include a contingency that you must sell your house before you can close on your new home. In today’s market, sellers are very uncomfortable with those contingencies. We can assist you in selling your current home if you are local or we can refer you to a well-qualified agent in your area.
We are very familiar with a lot of neighborhoods in different parts of town. We will discuss some or all of the following factors that determine if a neighborhood is right for you:
• Schools (if you have or plan to have children)
• Property Values and trends
• Proximity to shopping, recreation, places of worship
• Transportation Options
• Sense of Community
• Future Development
• Commuting time to work
• Aesthetic Qualities such as tree lined streets, sidewalks, parks, well-kept homes, etc.
Let Us Do The Work
We are dedicated to providing the best service to our clients. Our promise to you is to do the following:
• Provide you with a list of homes that may meet your needs
• Provide you with any new homes that meet your requirements that are added to the Listing Service as soon as they are entered
• Coordinate appointments with sellers to view homes that interest you
• Accompany buyers on tours of neighborhoods and specific homes
• Negotiate contracts and complete all necessary addendums on your behalf
• Assist in contacting a home inspector to insure your home and systems are sound
• Accompany buyer on home inspection (if schedule allows)
• Coordinate and provide access to your new home as often as you like (within the seller’s scheduling constraints)
• Be available for questions at any point during the process by fax, phone or email
• Provide representation at the closing table to ensure everything goes smoothly and all contract requirements have been met
We make it a point to always answer calls or return calls promptly if we are with a client and not able to take your call. The same holds true with any email you send. We understand there’s nothing more frustrating than to be excited about a property and no one bothers to call you back. You can reach any of The Hunton Group agents by phone or email.