The 8 Step Buying Process

 

1. Choose Nate As Your Agent

-The seller has hired an agent that represents their best interests. As an ABR (Accredited Buyers Representative), and a CNE (Certified Negotiation Expert), I'm here to represent yours.  

2. Getting Pre-Approved for a Mortgage

-Why is this important? A pre-approval lets you know EXACTLY what you can afford to buy. Speaking to a lender first will educate you about different programs and rates and will help you figure how much money you will need to put down. It also demonstrates to the seller that you are a willing and able buyer.  

3. Creating a Wish List

-What does your ideal home look like? Is it a condo overlooking Navy Pier? Is it a single family home in Roscoe Village with a yard? What are your must haves? What's most important to you (price, location, amenities, etc.)? 

4. Finding Your Home

-Once you have determined the type of home you are looking for, the physical search begins. If you see anything on my website that you'd like to schedule a showing for, just click the 'schedule showing' button and I'll make that happen. Typically, I will set up very specific searches for my clients and they will pick out 6-8 properties at a time that they would like to view. If you see 8 properties or you see 1 property that you want to schedule a showing for, please allow at least 24 hours for scheduling and I'll make it happen. In today's market, if a property is priced right, it won't sit on the market very long and you'll want to get in to view it as soon as possible.  

5. Making An Offer

-Chances are, when you find a home you absolutely love, someone else may love it too. So it's important to act quickly and make an educated offer. Buyers often focus on price, but there are other important terms to a real estate contract. You can include any terms you like, but the more you add, the more likely the seller is to object. Here are the most common elements of a real estate contract: price, mortgage contigency, home inspection contingency, attorney approval, earnest money, and closing date.  

6. Negotiating Counteroffers

-In many transactions, there is a fair amount of negotiation - offers and counteroffers - before both parties are satisfied. Negotiating for a home can be a highly charged and emotional process. Most agents don't take the time or spend the money to further their education. I understand that in order to provide my clients with the best possible service, and get them their home at the BEST possible price, I HAVE to be a skilled negoitator. That's why I went out to get my CNE (Certified Negotiation Expert) designation, so that you will get what is most important to you in your new home.

7. Contract to Closing

-This is where my attention to detail really comes into play in which I coordinate and oversee the following steps: 

  • Deliver earnest money to the sellers agent
  • Recommend and schedule a home inspector and accompany you on the inspection
  • Recommend a real estate attorney
  • Obtain important documents, such as property disclosure forms and condominium documents (budget, declaration, condo association minutes) and deliver them to you and your attorney
  • Help expedite the loan application process
  • Monitor all contingencies to be sure they have been met
  • Maintain communication between all parties
  • Recommend service providers for moving, home improvement, and repairs
  • Schedule the final walk-through
  • Coordinate and attend your closing. (Note: there might be champagne there)  

8. Closing

-I will work closely with you, your lender, your attorney, and the seller’s agent to make sure everything is in place for a smooth and efficient closing. Typically, a day or two prior to the closing, your lender will forward all loan documentation to the title company and let you know the amount required to close. You will be responsible for bringing the balance of your down payment and closing costs (such as lender fees, title company fees, and state and city transfer taxes) to the closing in the form of a cashier’s check. At the closing, your attorney will guide you through the many documents you need to sign, including the bill of sale, the deed and the affidavit of title.