Q: Do you work with investors?
A: Absolutely. Syndicates, sophisticated investors and high-net worth investors.
Q: Can you help me evaluate properties that would be good for renting/ cash flowing?
I love helping clients look at the current market, bank owned sales, sheriff sales, foreclosure auction, and more for investment opportunities. I will analyze data on many properties at a time and even represent clients at auction. I teach my clients about the current market value for the target property plus current, market rent for the property, just-in-case things don’t go to plan. This way you’re covered.
Q: Can you make sure the appraisal doesn’t come in low? What does this mean for our offer?
A: Yes, I have been taught current methods to value your property correctly. I start with the comparables method. I also produce a confidence score for you so that you know how dead accurate my evaluation is. I try to think through an appraisers perspective, and I’m always right on target.
Q: Should we look before we are qualified for a mortgage?
A: It is in everyone’s best interest to know what budget we are working with for your new home. This way you’re not taking precious time away from your work or schedule.
Q: What does the overall process look like from start to close on my next home purchase?
1) Come and talk to me about your needs, goals and dreams for a home, then I will connect you with a mortgage professional who will get you pre-approved for a mortgage.
I will have my clients sign a buyers representation agreement at this time so that I can legally represent you as your agent. You will also get an information about brokerage services document. This discloses necessary information about my brokerage.
2) Once you are pre-approved we can do the fun stuff! GO SHOPPING!
3) We will decide which home you would like to put an offer on and I will draft up a contract based on the type of property we are wanting to purchase. You will review these contracts for earnest money due, option fees, closing dates, option dates, and more. Once you are satisfied with the offer then you will sign and we will send over to the other party to review and sign or counteroffer.
4) Once we have acceptance and execution of the offer (both parties have signed off and a date is recorded) we then need to look at the option money and earnest money due dates. Option money is due in x calendar days from the day after we execute/sign contracts and earnest is due x business days from the day after execution date).
5) immediately we need to have the buyer (or seller if the contract so specifies) order an inspection. We only have the days in the option period to ask for repairs and adjustments from the seller.
option money is delivered and receipted by the seller/sellers agent and earnest money goes to the chosen title company.
6) the title company, buyers lender, and basically all parties involved are then sent a chain email that tells us all about important dates, what paperwork is still missing, what is due and any other details.
7) After contract, earnest, option are delivered the lender then usually goes to underwriting to make sure everything on the financial side checks out ( if they haven’t already). If any documents are missing they will ask for them.
8) Lender orders an inspection to verify the value of their loan based on the property value.
9) After all of the required documents are sent and received we wait till closing day if no other documentation is asked for.
10) You sign for your new home!
Q: How hard is it to get pre-approved for a mortgage?
A: Truly easier than you think. Takes 8 minutes for an application and costs you 2 credit points. If you really want to own your own home this is not a deal breaker.
Q: What if I’m not sure I want to make the plunge?
A: Ask me about a free home buyer class-I put these on with all of the different real estate professionals. They are experts in title, mortgage, insurance, moving, inspections and more.