USING A WINDERMERE AGENT TO HELP YOU FIND A HOME
Whatever your reasons for buying, finding the right home in the perfect neighborhood, and at a cost that is within your budget, is no small task. That's why many buyers choose to work with a full-service, licensed real estate professional, like myself, to guide them through the process. I have detailed information about properties for sale by every company, and can make appointments to see any home that you're interested in.
AS YOUR AGENT:
- 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.
- 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.
- I will make appointments, preview homes with you and help you determine the pros and cons of each home.
- I can help you maximize online home search tools available to you on Windermere.com.
- I can provide information and make appointments to see almost any property listed for sale. A home does not have to be listed by a Windermere agent in order for me to get detailed information or an appointment to view.
- Once you find the home you want to buy, I will guide you through the negotiation, legalities and details of purchasing a home.
BEGINNING THE PROCESS
Organization is the key to finding the home you want while spending the least amount of time and energy.
It’s always best to find out how much house you can afford before you go house-hunting. I can refer you to a loan officer who can assist you with determining how much of a down payment you can afford, along with a monthly payment you can handle.
Make a list of everything you want in a home. Is a master suite important? How many bathrooms? What about closet space? Do you need a yard for the kids and pets to play in? How about a fireplace or a bay window? Do you prefer a rambler or a multiple-story house? Are schools or access to public transportation important?
Separate the essentials from the items you could do without and put them on the “A” list. Prioritize the rest of the items into a second and third list in order of importance. We’ll then go over the lists so that I’m very clear on what you want and need in your home.
Keep good notes as we look at homes. After a while, it becomes difficult to remember which features belong to which home. I can provide you with a form and rating system to help you compare homes.
When selecting a home, look beyond cosmetics. Make sure the home is in good physical condition and that you understand the cost of repairs. For more information on how to assess the home’s condition, refer to “Home Inspections” on page 10 of this booklet.
Look at additional homes, even if you love the first one you see. Many times, it takes looking at several homes before you find the one that is really right for you.
As your Windermere agent, I’ll check with you regularly, even if you haven’t yet found the home that’s right for you. Keeping in contact allows us to establish a good rapport, and helps me learn how to help you effectively. I’ll continue to be on the lookout for homes that suit your needs.
Find Listings in Popular Neighborhoods
University/ Fairmount
South Hills
Ferry Street Bridge
West Jefferson/ Downtown
College Hill
Whiteaker
HOW MUCH HOME CAN YOU AFFORD?
Before you start looking at homes, it’s a good idea to find a target price range that you can afford. A mortgage lender will want to make sure you can handle the down payment, plus a monthly mortgage payment made up of principal, interest, taxes and insurance (PITI).
Interest rates and your personal finances will influence the amount of house you can afford. That’s why it’s always good to talk to a lender before you start shopping for a home. I can refer you to lenders suited to your specific financial needs. There are a wide variety of loan programs available to buyers. I can give you the names of several mortgage specialists who can review all of your options with you.
In order to plan properly, you need to understand what lenders are looking for from a borrower. There are three factors that help determine if you qualify for home financing:
YOUR INCOME
YOUR ASSETS
YOUR CREDIT HISTORY
Most loan programs require you to verify all of your income sources. Your mortgage consultant will let you know what documentation is needed. Typically, you will need to provide pay stubs and your W-2, and if you are self-employed, you may need to provide copies of your tax returns.
The required down payment varies according to the loan program. There are several affordable options for borrowers. Closing costs are associated with finalizing the transaction and include the appraisal fee, loan origination fee, title insurance, escrow services and legal recording of documents. Each loan is different, so it is important to discuss these fees with a mortgage expert.
All lenders review a borrower’s credit history to determine the type of credit used, the amount owed and the borrower’s history of repaying debt.
When you speak with your mortgage professional to figure out how much home you can afford, it’s also a good idea to get pre-approved for a mortgage before we start your home search. This will help us narrow your home search to a price range that’s comfortable for you, and being pre-approved also makes for a stronger offer in the eyes of sellers.
Once you’ve found the home you want to buy, together we’ll complete a purchase and sale agreement. This is the contract in which you and the seller outline the details of the property transfer. The purchase and sale agreement usually consists of the following pages:
- Earnest money receipt
- Financing addendum
- Inspection addendum
- Conditions/disclosure addendum
- Contingency addendum, when appropriate
- Addendum outlining special conditions
- Lead-based paint notification, when appropriate
In selected areas, the following forms will also be part of your agreement:
- Agency disclosure form
- Property disclosure form completed by the property seller
- Local area disclosures
SETTLEMENT AND CLOSING
During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. “Closing” is when you and the seller sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Settlement obligations vary widely due to specific contract language, local laws and customs. Prior to closing, the closing agent (usually an escrow or title company or attorney) will complete a detailed settlement statement for both buyer and seller. As your Windermere agent, I can help you understand which of the following typical settlement fees apply to you.
THE BUYER RECEIVES:
- Credit toward buyer closing costs or the purchase price for any earnest money deposited
THE BUYER PAYS:
- One-half of escrow or legal fees paid to the attorney or escrow company for preparing the closing (in California, the party paying escrow fees varies from county to county)
- Document preparation fees, if applicable
- Recording and notary fees, if applicable
- Title search and title insurance*
- Local transfer taxes*
- Loan fees
- Appraisal fees
- Credit report fees
- Home Owners Association fees, if applicable*
*Paid by either the seller or the buyer
Angela Cherbas
Oregon Licensed Broker
1600 Oak Street
Eugene, OR 97401
