What Home Buyers Can Expect From Pili...
 

• Provide on-going education and information for my client's protection

• Provide straightforward assessment of the current market

• Keep the client and myself knowledgeable of the market including new listings

• Use a systematic approach for the business of purchasing a home

• Review your financial position to determine the price most suited to your ability to pay and your comfort level

• Explain financing alternatives to help you select the one best suited for you

• Estimate purchase costs and explain them in detail

• Discuss home styles, availability, location, and specific features you desire

• Explain the purchase process in detail, including Purchase and Sale Agreement, how the Multiple Listing Service works, and what to expect from the current market conditions

• Prepare a market report, pricing recommendations and estimate of equity from the sale of your present home

• Provide you with information on properties for sale that meet your parameters

• Prepare an offer to purchase agreement and explain each in detail

• Provide you with copies of all the documents involved in the purchase agreement and financing

• Assist you in determining the appropriate financing and help you select the best financial institution to handle your mortgage

• Accompany you to the loan application if you so desire

• Provide you with a loan application checklist

• Provide you with an estimated cost of closing or settlement, including points, title insurance, appraisal, credit reports, etc., prior to the loan application

• Follow through with your loan officer to ensure the process is as smooth as possible

• Assist in securing interim financing if your present home has not yet sold

• Coordinate any necessary inspection of property to evaluate the major elements of the home such as: lead, asbestos, pests, basement, structural, subsoil, water, septic, chimney, code compliance, etc.

• Keep you informed on a regular basis

• Discuss the benefits and drawbacks of each home in relation to your specific needs

• Check the MLS data base and other brokers daily for new listings that meet your criteria

• Prepare a "tour map" and print out of all the homes meeting your criteria

• Keep you updated on changing financial conditions that may affect the housing market

• Discuss market trends and values relative to properties which may be of interest to you

• Introduce you to local builders if your desire is for new a new home

• And respond to your questions and offer assistance regarding your home purchase

Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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