Pre-approved home buyers get preferential treatment when negotiating home purchases. Why? Because pre-approved buyers are financially qualified to purchase the home and are considered more serious than buyers who are not.

2. Select a Realtor

This is one of the most important steps in the process. You will, for all intents and purposes, be in partnership with me throughout the entire home buying process.   You will be confiding in me on a business level and often on a personal level.  I will be the one dealing with any problems that crop up along the way.  I will also be finding what you want, in the area you want, and for the price you want.  It is very important that you know that I will be representing you exclusively and that I am someone you can trust.

3. Meet or Talk on the Phone with Me for a Home-Buyer Consultation

This is where you and I prepare each other for exactly what to expect along the way. The following points should be covered during our conversation:

• Exactly what your needs are (# of bedrooms, baths, etc.), in which areas your looking, what price range you are comfortable with, and what your timeline is. It takes generally 30-60 days from purchase to closing.
• How often you are available to look and what you expect from your agent in terms of availability and communication (email, phone, updates either daily or weekly).
• I will discuss the paperwork you will be expected to sign throughout the process and I will briefly explain what each form is for. I will also give you a general idea of the costs involved in closing the purchase of a home.
• I will explain to you buyer brokerage vs. seller's representation, and you will then understand how my services are paid for (which is not your responsibility).

4.  Look at Homes                         

This is the fun part. It is important to limit the # of homes you look at in a day (5-8 max).  If you look at too many homes they begin to run together, and you can't remember one from another.  I will provide you with a binder with property details inside which should help you keep track of properties you have seen. It is also helpful to narrow down the properties after each visit.  Comunication with me is vital! It is very important to let me know which houses you like and why, as well as which houses you don't like and why.

5. Select a Home

Once you narrowed your search down to one or two homes that you like, I will do whatever research necessary to help you make your decision, but the decision will ultimately be yours.  Once you have selected one home to focus on, I can do a comparative market analysis on that property.  This involves determining "fair market value" by looking at what other buyers were willing to pay for properties similar to yours in the same neighborhood.

6. Make an Offer and Handle Negotiations

When making an offer on a property, it is important to decide ahead of time how much you are willing to pay at what terms for the house.  I will have provided you with data about the fair market value of the property but in the end, it is up to you to decide what you want to offer, how much deposit you will offer, what personal property you wish to have convey (everything is negotiable), when you plan to close, and what inspections you plan to have conducted.   You will also want to decide how much earnest money you will want to include in your offer.  Earnest money is money (typically 2% to 3% offering price) that you will deposit into escrow at the time the offer is accepted.  Your earnest money deposit shows your good faith towards completing the purchase with-in terms specified in your offer. 

When negotiating with a seller it is important not to take anything personally.  Also try to put yourself in the seller's shoes.  Figure out what's not negotiable to you, and be willing to give a little on things that are negotiable.  I will help structure your offer.  Once I have presented your offer, the seller will accept your offer outright, reject your offer outright, or counter your offer.  The counter process can go back and forth many times.  

7. Get Inspections and Remove Conditions

If, as part of your offer, you asked for time to be allowed to have inspections conducted on the property, we will have written what is called a contingency offer.   Offers can be contingent upon financing, inspections, the receipt of acceptable condo documents, the sale of your current property, and other conditions.  It is important that all deadlines be met and that all conditions are removed exactly the way the contract describes.  I will make sure that this is done correctly and file for extensions when needed.

8.  The Final Walk-through

This is your chance to find any problems and have the seller correct them.  You are also checking for any other items the seller previously agreed to fix.  If anything is found to be defective or missing, you have several options: the seller can remedy the problem prior to closing; the seller can credit you the amount of money it would take to hire someone to remedy the problem; or the seller can promise to correct the problem and place it into escrow with the amount of money you will need to pay someone else if the seller does not performed as promised. 

9.  Close on your New Home

On the closing day, you will be signing all the mortgage documents.  You will have to present whatever down payment and closing costs funds you are expected to pay.  This check must be certified.

10.  Moving Day

This is the last step in the home buying process.  You will want to make arrangements with a moving company as soon as you can.  I can help you with this.  You will also want to make sure you change your address with the post office, your banks, and all creditors at least 30 days in advance.  Call to order your utility hook-ups approximately 10 days prior to your move.  I will provide you with all the important information and phone #'s to help make this process go as smooth as possible.

1. I know the local market and can quickly narrow it down to a few areas where you are likely to find your home at the price you want.
   
2. I can save you time by doing a lot of the legwork.  By knowing your needs, I can eliminate homes that do not meet your criteria.
   
3. I will make appointments, preview homes with you and help you determine the pros and cons of each one.
   
4. In have access to the Multiple Listing Service (MLS), a service that provides access to thousands of homes for sale.
   
5. I can provide information on almost any property listed for sale. A home doesn’t have to be listed by a Windermere agent in order for me to get detailed information or an appointment to view.
   
6. Once you find a home you want to buy, I will guide you through the negotiations, legalities and details of purchasing a home.
   
7. I can provide you with referrals to many professional resources that you may need during  the negotiations and purchase of your new home.

Tips on Shopping for a Home- 7 things you may want to think about when your in the market for a new home.

Oregon Property Buyer's Advisory- I advise all perspective buyers to read this very imformative pamphlet.

Appraisal Fee- average of $400 for conventional loans.  Appraisals for duplexes and triplexes can run $650 or higher

Credit Report- average of $65 for each individual or married couple: spate charge for non-married co-barrowers.

Delivery/Mail Charge- average $15 for overnight service

Discount Points- as per lock negotiated between barrower and lender; discount points are figured on the entire loan amount, including mortgage insurance premiums.

Document preparation fee- averages $75-$250

Escrow Fee- about $275 plus $1 per thousand.

Fire Insurance Premium- averages $4 per $1000 depending on amount of coverage, age and condition of home.

Government Report fees- averages $20

Lenders Inspection fees-  averages $45 for each inspection, including re-inspection after repairs completed.

Mortgage Insurance Premium- conventional loans depends on the loan-to-value ratio (about .5% for 90%; 1% for 95% loan)

Origination Fee-  average of 1% of loan amount for conventional loans.

Prepaid Interest- charged from date of recording and disbursement of lender’s funds until first month prior to due date of first mortgage payment, figured at principal balance of new loan, times interest rate, divided by 365 days per year.

Processing fee- Averages $100-$250.

Recording fees-
Multnomah County- $5 per page plus $3 per document
Washington County- $5 per page plus $8 per document
Clackamas County-$5 per page
Yamhill County- $5 per page plus $10 per document
All deeds, easements, contracts and assignments of contract require an additional $20

Reserves- generally 2 months for fire insurance and taxes.

Sales commission- as per terms of earnest Money agreement.  Seller pays buyers agent.

Tax service- averages $54-$69

Title Insurance Premium- Owner’s Policy-  $100,000-$300,000 = $455 plus $2,000 above $100,000

ALTA Policy- 25-30% of owner’s rate plus $50

Underwriting fee- averages $50-$250