You begin with a vision, we facilitate the dream.
Buying a home can often be seen as both complex and intimidating, with confusing jargon and a multitude of intricate stages that might seem overwhelming even to the most seasoned of buyers.
Nevertheless, the longing to settle into a home and transform it into your personal haven is an immensely powerful motivator.
You deserve a transparent and effective process. By simplifying the home buying journey into easily digestible steps, we can ensure that your home buying experience will be marked by smooth transitions, minimal stress, and an experience you can genuinely enjoy!
The key to success is to partner with the right professional for the job.
Step 1
Intake
In our initial meeting, whether it's face-to-face or conducted virtually, we will dedicate the time to get toknow you and what your ideal home looks like. If you find it challenging to visualize, don’t worry – our approach will include a comprehensive brainstorming session where we will dive deep into your wants, needs, must-haves, and non-negotiables. Armed with a crystal-clear picture of your ideal home may look like, we will craft a personalized action plan to guide you on the path to achieving your goals.
Step 2
Financing
Reviewing your loan options and securing a loan prior to touring homes is critical. This not only helps define your search criteria, but it also sends a strong signal to sellers that you're committed and well-prepared to embark on your home-buying journey. If you're still in the process of finding a lender, we’d be delighted to connect you with a group of trusted lenders we have a strong working relationship with. In any case, we recommend selecting a local mortgage lender who comes highly recommended by someone you trust. Having an experienced financial advocate by your side ensures a smooth and worry-free transaction every step of the way.
Step 3
Education day
Now, the fun begins! Utilizing the insights we gathered during our Intake session, we’ll curate a thoughtfully crafted list of homes for us to tour together. This list will encompass properties that could be strong contenders, some potential options, and even a few that might not have crossed your mind before. Throughout our 2-4 hour tour, we’ll be asking plenty of questions to gain insights into your preferences, so don’t hesitate to be open and honest – we genuinely want to understand what captivates you and what doesn't. By the end of our tour, we'll have a clearer vision of what constitutes your perfect home.
Step 4
The offer
Once we've found "the one," we'll work closely together to craft a compelling offer. To kick things off, we’ll furnish you with a comprehensive market analysis of the property, helping us arrive at a fair and well-informed offer price. Following that, we'll take you through the contract, meticulously discussing the different contingencies available to you. Our primary objectives during the offer writing process are to ensure you have a thorough grasp of the contract language and your responsibilities as a buyer, strategize for the most favorable price and terms, and put in place safeguards to protect your earnest money.
Step 5
Mutual acceptance
Our ultimate goal is to achieve mutual acceptance, the point at which all terms are not only agreed upon but also formally documented. After submitting your offer, we'll handle negotiations and strive to secure an agreement that satisfies both parties. Upon reaching this mutual acceptance milestone, we'll furnish you with a detailed Buyer Transaction Summary. This summary will map out our closing timeline as well as tasks and deadlines that must be completed before each contingency expiration.
Step 6
Inspection
To carry out the home inspection, you'll enlist the services of a skilled home inspector who will meticulously assess the property, uncovering any potential concerns. The resulting report will categorize findings into different levels of importance, spanning from items requiring immediate attention to those necessitating ongoing monitoring. Armed with this valuable information, we can explore the possibility of revisiting the seller to discuss funding for essential repairs or, in some cases, consider bringing in specialists to dive deeper into specific issues that warrant further investigation. This step ensures that you make informed decisions and feel confident in the condition of your future home.
The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.
- MAYA ANGELOU
Step 7
Escrow
An escrow officer serves as a neutral third-party with a pivotal role in overseeing your transaction. Their primary responsibility is to ensure that all parties involved adhere to their financial commitments as specified in the contract. They also play a central role in receiving and disbursing funds, as well as handling the essential documents required to transfer ownership of your new home.Once your loan documents are sent to escrow, you can anticipate a meeting with the escrow officer a few days before the closing date to complete the necessary signings. Then, on the actual day of closing, we will receive confirmation that the ownership documents, notably the deed, have been officially recorded. This significant milestone marks the moment when we can joyfully hand over the keys to your new home, completing the exciting journey to home ownership.
Step 8
Moving day
When the day you've been waiting for finally arrives, we’re here to assist you in orchestrating a successful transition. Typically, you can begin moving into your new home the day after closing. Whether you're considering some updates before settling in or simply need a reliable mover recommendation, we are well-equipped with valuable resources to support you throughout the entire process. Your seamless move and the enjoyment of your new home are our top priorities.
The Buyer 10 Commandments
During the home purchase process, your lender will be closely monitoring for any red flags that could pose a concern when approving your loan. To ensure a successful transaction, it's crucial to maintain conservative financial behavior until the day after closing. Engaging in any of the activities listed below could put your home purchase and loan approval in jeopardy. Therefore, it's important to avoid taking on new debt, opening or closing credit accounts, making large purchases, or transferring large sums of money without consulting with your lender first.
Thou Shall Not...
Change jobs, become self-employed or quit yourjob.
Buy a car, truck, van or boat.
Spend money you have set aside for closing.
Omit debts orliabilities from yourloan application.
Use credit cards excessively orlet current accounts fall behind.
Buy furniture on credit.
Originate any inquiries into your credit.
Change bank accounts.
Co-sign a loan for anyone.
Make large deposits without checking with yourloan officer.
UNDERSTANDING
The cost of purchasing a home
As you navigate the journey of purchasing a new home, you'll come to understand that the expenses involved extend beyond the down payment and mortgage. In fact, as you approach the closing phase of your purchase, your dedicated escrow officer will provide you with a comprehensive settlement statement for your review. This statement will detail an itemized list of various fees, accompanied by their respective amounts that you'll be responsible for. Rest assured, we will review this statement as well to ensure complete transparency and eliminate any unexpected surprises before the closing date.
| EXPENSE: | AMOUNT: | WHEN TO PAY: |
|---|---|---|
| Earnest money | Typically 3 - 5% of purchase price | 1-3 days after mutual acceptance |
| Home inspection | $500 - $850 | On inspection day |
| Appraisal | $800 - $1200 | Within 1st week of mutual acceptance |
| Credit report | $30 - $50 | Paid at closing |
| Listing broker compensation | 2.5 - 3% of the sales price* | Paid at closing |
| Loan origination (points) | Typically 0.50 - 1.5% of loan amount | Paid at closing |
| Down payment | Typically 3-20% of purchase price | 24 hours prior to closing |
| Title insurance | $1400 - $3000 | Paid at closing |
| Escrow services | $1500 - $1800 | Paid at closing |
| Loan processing fee | Variable | Paid at closing |
| Underwriting fee | Variable | Paid at closing |
| Recording fee | $400 - $700 | Paid at closing |
| Courier & notary fees | $50 - $250 | Paid at closing |
| Flood certification fee | $8 - $10 | Paid at closing |
| Broker compensation** | Variable | Paid at closing |
| Property taxes | Pro-rated based on closing date | Paid at closing |
| Prepaid interest | Pro-rated based on closing date | Paid at closing |
| Homeowner's insurance | Pro-rated based on closing date | Paid at closing |
| Propane/oil fuel tank | Pro-rated based on closing date | Paid at closing |
*Rates and fees quoted are estimated and are variable dependent upon purchase price and loan amount.
**Buyer broker compensation is typically paid by the seller at closing. However, if the rate of compensation is less than what is agreed to your Buyer Broker Services Agreement, buyer may be asked to pay the balance of the compensation rate due to the buyer broker at closing.
THERESE BIANCHI
Therese Bianchi is a dedicated and passionate Real Estate Broker who strives to achieve exceptional client results. As a native of the Greater Puget Sound region, she has an intimate understanding of the local Real Estate market and is always eager to share her insights with her clients. Her love and enthusiasm for the region are apparent in her work, and she takes great pride in helping her clients find the perfect home in one of the area's many charming communities.
Therese is known for her high energy, tenacity, and determination which she brings to every aspect of her work. Her clients appreciate her dedication and commitment to serving them with true advocacy and a compassionate, impactful approach. With her background as a personal trainer, she is always up for an adventure or a challenge, and she brings that same level of enthusiasm to every real estate transaction.
Contact Therese Bianchi today if you're looking for a real estate broker who will go above and beyond to help you achieve your personal real estate goals. With her insightful perspective, impeccable service, and warm, authentic attributes, she will surely provide you with a truly impressive real estate experience.
Ready to find out more?
Let's make your dream home a reality!