Buying 101

The Buying Process has several different steps. It is usually not as simple as finding a house, writing an offer, taking money to closing, and moving in. Finding the right home, in the right area, at a price within your budget is not necessarily easy, but the agents at Urban Pacific Real Estate are up to the challenge! Although there are many different steps and each agent will handle each step differently, below is a general outline of the buyer process.

  • Discuss your needs in a new home: During this interview process your agent will discuss the items that are on your “must-have” list that are priorities and are not things that can easily be changed on a property (such as location). Your agent will want to know why are you moving in the event your current home no longer meets your needs. Do you need more bedrooms to accommodate your growing family? Do you want a master bath suite to allow you to unwind after a long day? What are your priorities and what can you live without?
  • Determine your financing plan: See the Lending 101 <link> for additional information on lending. There are several options available when it comes to financing your home. You may have the option of paying cash out of your assets, creative financing or use traditional lending. There are a variety of lending programs available if you need a loan but it is important to take this step so we can know your home budget.
  • Finding homes: Your agent will check the MLS close to daily for new homes that come on the market. It is likely you will be doing the same thing. When properties that fit your criteria become available, your agent will coordinate seeing the home in-person with you until you find the right home at the right price.
  • Writing an Offer:Once you have chosen your next home, your agent will write up the paperwork and work with you to write an offer to the homeowner. Make sure your agent provides research and a Comparative Market Analysis so you are confident in knowing a fair asking price for the home.
  • Negotiations: In the event the seller does not accept your offer right away, your agent should be your strong advocate and negotiate for your interests, while keeping your real estate investment goals in mind.

Once you have an accepted offer, your agent will guide you through the transaction, the legal process, and the details that follow, keeping you completely up-to-date during the pending to close period.