Buyers Steps
1. Game Plan
- Initial meeting with a client
- Determine Buyer’s desires (needs/wants in a new home)
- Review duties/responsibilities of a Buyer’s Agent
- Provide Buyer Package with a sample of local Purchase Agreements (contracts)
- Ensure Buyer is pre-approved with a known lender
2. Property Search
- Set Buyer up on a listing alert service
- Preview properties on behalf of Buyer
- Show properties to Buyer
- Help Buyer select the ideal property
3. The Offer
- Validate what is included in the sale via me
- Obtain a copy of Title information to identify property owner(s)
- Contact Listing Agent to validate property is still available; confirm any special terms for the offer
- Prepare a Market Analysis in the area to determine the offer price
- Obtain and review available disclosures with Buyer
- Prepare Purchase Agreement (aka Purchase Contract) on behalf of Buyer
- Prepare a personal letter from Buyer to Seller
- Obtain Earnest Deposit for purchase of the home and proof of down payment, to be submitted with the offer
- Prepare package for Listing Agent, including cover letter
4. Negotiation
- Present Buyer offer to Listing Agent
- Ensure Buyer’s Lender available by phone in case finance questions are being asked by Listing Agent
- Respond/negotiate counter-offers and contract addendums
- Prepare new counter-offers / addendums on behalf of Buyer
- Acknowledge ratified contract on behalf of Buyer
5. In Contract
- Send a copy of ratified Purchase Agreement and Property Profile to Buyer’s Lender to start lender underwriting
- Open Escrow with local Title Company if not done by Listing Agent
- Send a copy of the ratified Purchase Agreement to Escrow Officer for closing instructions
- Order any secondary inspections requested by Buyer
- Be onsite for property inspections
- Be onsite to meet appraiser with copies of current comps to assure maximum value is received by Buyer
- Review new disclosures and inspections with Buyer
- Negotiate contract adjustments and credits if new defects are found as part of property inspections
- Assure loan underwriting moves forward on schedule
6. Close of Escrow
- Manage the timely release of contingencies on behalf of Buyer
- Ensure Buyer has Certified Funds for the amount due at closing
- Ensure Lender funds are received by Title in time for closing
- Arrange and attend Buyer final walk-through prior to the close of escrow
- Review “Closing Costs” on a Estimated Worksheet for accuracy
- Provide a list of potential qualified vendors (e.g. movers, attorneys, carpenters, painters, etc.) if these services are needed
- Validate house is clean and all of Seller’s possessions are removed prior to the close of escrow
- Monitor closing so the transfer of property occurs as planned
- Once property recording is complete, deliver keys to new Home Owner
- Validate MLS is updated denoting property sale is complete