Buying

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Text Box: Masako Takahashi Your Real Estate Professional

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Property Search

Buying

Text Box:

Masako Takahashi

815-823-2336

tmasako@comcast.net

www.MasakoHomes.com

Real Estate Agent

Specialized in:

Residential, Commercial,

Investment

Buying (Purchasing Process)

Text Box: If you are a first-time home buyer, the process of finding the right home and getting through the process can be daunting. But with a good real estate agent, a good lender, and good organization on your part, things will go much smoother. This section will help you stay on top of the details each step of the way.

Meeting with your real estate agent

Can you picture your dream house? Does it have a huge backyard? Lots of land to play with your children or little yard to save your yard work? A good school system nearby? Do you want to live by a lake, a river, or a town? Take a few minutes to analyze the things that are most important to you in a home and share them with your realtor. Internet Search may offer great convenience to you, but it can be very complicated. By having an skillful agent on your side, you would definitely save a lot of time and stress on your part. Agent can explain each step toward your goal and help you understand the process.

Determine what you can afford

Before you actually begin to search for a new home, you need to know your budget and estimate how much you can afford. One of the most important factors in figuring out your financial budget is getting pre-qualification or approval for a mortgage. Without this, a lot of owners quite often decline to show their homes. You can think of pre-qualification as not only your guideline for your search but also your key to see the house. If you do not know any banks or mortgage companies, I can recommend well established companies.

Let’s decide locations for your search

Based on your needs for you and hour family such as schools, commuting route, shopping, hobbies, churches, other clubs or activities, you need to narrow your search to several areas. You can also narrow your search by eliminating areas that would not meet your needs.

Decide style of your houses

In general, housing can be categorized into Single Family Home, Condominium, and Townhouse. Do you mind mowing the lawn? Do you mind shoveling snow? Or do you rather have home associations take care of the maintenance and have more free time after you come home? Do you need a basement? How about a garage? By reviewing your lifestyle & preferences, you should be able to narrow your search.

Let’s visit and see the houses

Now you have a pre-qualification and know your budget. You selected areas and know your requirements. I will make showing arrangements for the houses that would meet your needs and preferences. I will work diligently until you will find a house you like.

Making an offer

You found a house that would meet your requirements such as budge, location, conditions of house, layout, floor plan, etc. The next step is to make an offer. I will prepare a written offer including purchase price and other purchasing conditions. If Seller agrees with your offer, the contract will be signed by Seller and you are very close to owning the house.

If Seller does not agree with your offer, there will be a counteroffer from Seller. This negotiation will go through many going back-and-forth and continue until both you and Seller agree. This requires a lot of energy, mentally & emotionally on both sides. But if you have your own agent, he/she is the one taking this burden for you. Your case, I will be at the frontline working for you with all my energy, knowledge & negotiation skills, so you can continue your normal daily routines.

Attorney Check

Once the purchasing contract is executed (signed by both parties), have your attorney review the contents. If there are any inconsistencies or issues, your attorney will advise you and make adjustments based on your directions. He/she will be making sure all the legal issues with the contract and the property and preparing all the legal documentation for title, loans, survey, etc. Your attorney will be present at closing for the transaction. If you already have your own attorney, check if he/she handles real estate transaction and check the availability for you in the near future. If you need one, I can recommend a few attorneys for you to choose from.

Apply for mortgage

Call your bank or mortgage company you selected, meet with the lender and fill out their application form. Make sure to bring all the necessary documents you were asked to submit for the application. Your lender will order appraisal of the house as well. It would probably take 3 to 6 weeks to get a loan commitment, so keep in touch with your lender until then.

Inspection of the house

You will be going back to the house with your home inspector. He/she will point out the conditions of the house and make a report for you and your attorney. If any defects or undesirable conditions were found, your attorney will submit a letter to Seller’s attorney requesting solutions. You will be inspecting the house again before closing to make sure the condition. This is called final walk through.

Closing

This is the meeting where the sale transaction is finalized. During the closing, settlement procedures take place. The Disclosure Statement is released, money is exchanged, all paperwork and agreements are signed, and the title of property is transferred. Seller’s and Buyer’s attorneys are present to make sure the transaction. This is the last step before you can call your property your home. At the end of the closing, the moment you receive a house key (plus a garage opener), the house is yours. Now you can start moving to your own house.

Please note that all the processes described above would normally take 2 to 3 months including searching and visiting houses. But it is still possible to own a house in a month if all the pieces fit right.

Need help after moving in?

Any house you move in, old or newly constructed, it needs maintenance like your car needs a regular maintenance.

Unique Realty | 250 Parkway Drive, Suite 150, Lincolnshire, IL 60069
Office: 847-255-8810 Direct: 815-823-2336 Fax: 847-255-8873

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