Whether you are a first-time home buyer or a seasoned expert, purchasing a home can be a complex process. For this very reason, Laura Powers Property Group is here to assist you each step of the way. Throughout each important stage, I will help you navigate the ever-changing housing market and lead you to your dream home. Not sure what youre looking for? My detailed understanding of market trends, local neighborhoods, and financial tidbits allows me to give sound, proven advice to match you with your ideal house.
To begin with, I believe that the more informed you are, the better your experience will be. I have the resources to guide you through the home finding process, providing you with everything from detailed property searches to neighborhood information. Below, I have included a general step-by-step list to help explain the home buying process. Some of these stages may seem confusing, but, remember, I am here to answer any questions.
We would be honored to help you! Understanding the details and priorities that you’ve set forth is the first step in a new home search. Please take a moment to complete the Buyer Profile Form that will help us match your priorities with the inventory in this market. Select the “Complete Buyer Profile”and let’s get started!
get pre-approved for a loan.
First, meet with a loan officer. Sharing income and financial information will give you a price range for which you are qualified.
• Get Pre-qualified
• Obtain a pre-approval letter
• Obtain a “Truth in Lending” letter explaining the costs of borrowing money
• Learn about the many loans available to buyers in today’s market
• Learn about closing costs
determine your wish list and budget.
Before the search begins, its a good idea to define what type of house, neighborhood, and location best suits your needs and lifestyle. Have fun with this! Have you always wanted a wood fireplace? Is a large yard important to you? I recommend imagining your dream home, while also taking into account your financial considerations. Once you share these details with me, I can offer feedback and advice to help develop a plan and goal moving forward. You may want to prioritize what specifications you are looking for in a new home to offer some flexibility when scouting for houses. Upon determining your finances for moving forward, the completion of a Buyer Profile worksheet refines your search criteria in terms of the specifications you’re looking for in your next home. The Buyer Profile should be submitted to our office even before our first meeting.
With your specifications in mind, I will use my resources to scout the marketplace on your behalf. When I find houses that meet your criteria, we can review them and schedule a tour at your convenience.
prepare the offer & make your loan application.
Once we have found the home of your dreams, we will help you determine an appropriate offer price by reviewing market trends and similar home sales. With your input, we will draft a written offer that outlines the price as well as the responsibilities of both parties in preparation for the transaction. If the seller accepts the offer, it becomes a binding contract. It is imperative that you carefully review the contract and clarify any aspects that are not clear to you prior to offering.
• I will go through the contract with you and complete your offer
• If negotiations are necessary, I will work to ensure that you and the seller agree on all terms
• All documents will be sent to the title company where a file will be opened, and title commitment and property tax information ordered
• Give your loan officer a copy of the contract and apply for the loan
inspect the property.
In order to ensure your safety and the value of your investment, it is important to have the proper personnel thoroughly inspect the house after the offer and loan terms have been finalized. The inspection is critical in any buying situation. Evaluating the report and recognizing the possible repairs is when a quality agent will serve you well. Therefore, it’s our responsibility to understand the ins/outs of the inspection magnifying glass process and demonstrate proficient negotiating skills. We will be persistent in advocating your position!
• Select an inspector and arrange for both a general inspection and comprehensive pest inspection
• Depending on the property and location, I can also provide information about other environmental assessments
The transition period prior to closing is filled with details. My team and I will guide you through the maze to provide answers to your questions and facilitate tasks that are required during this time. From setting-up utilities to transferring pool or lawn service, our goal is to anticipate what services you might need along the way, and ensure you have the assistance you need in a timely manner.
appraisal and survey of property.
• The lender and title company will make arrangements for the property appraisal and survey
• Buyer will be provided a copy of the Title Commitment Letter
• Buyer will make arrangements for homeowner’s (hazard) insurance, and arrange for the insurance agent to talk with the closing officer at the title company
• Buyer receives a copy of the closing statement for review 3 days prior to closing
• Buyer does a final walk-through inspection of the property
• The REALTOR arranges a closing date and time with the buyer and title company. Seller’s closing is also arranged
• Buyer brings a cashiers check for all closing costs and the balance of the down payment – the closing day you will sign all documents. The seller will be paid and you will receive the keys.