FAQ

extra copy Typical Conversations

Home Search Dynamics – The Whole Process Simplified

Each of these has it’s own extensive etail that we discuss as they occur. The order below is somewhat interchangeable, but is most typical.

1. Explore for yourself online with Zillow or Trulia or Realtor (but know they are 2 days behind the database that I provide access to, when you are ready). Maybe attend some Open Houses.

2. Get a pre-approval letter for your mortgage if you need one (most buyers do). In downstate NY for example, you cannot offer on a home without it, and you do need a professional to evaluate your mortgage qualifications, up front, lest you waste lots of time in your search. We are licensed to do this for you if you don’t have an existing relationship with a lender.

3. Your top-quality Realtor briefs you on the Market and the Process, to moot stress, and enable decision - making, in advance. (Most don’t.)

4. Work online via screenshares with your Realtor and then go out and look at houses (or price/list your property).

5. Identify a home you want and the top-quality Realtor will get as much “intelligence” as possible from the other agent to best enable decisions. Many variables influence the amount of any offer and we review it all thoroughly.

6. Get an Accepted Offer.

7. Choose an inspector, do the inspection, evaluate any potential “asks”.

8. Careful, hold onto your AO by being a “good buyer” – 33% of AOs vanish due to unnecessary conflicts and mistakes. Sometimes someone does simply change their mind.

9. Choose a proper attorney. (No friends or relatives who think they can do it, unless they are a full-time real estate attorney.)

10. Work out deal problems final terms with the other party; your agent sends a “deal memo” to the lawyers who negotiate the formal contract, with your excellent Realtor mitigating the problems in that process.

11. Sign the contact, write a check, and formally apply for your mortgage.

12. Work out transactional problems that arise after contract signing. (There are always problems so it’s important your Realtor be smart and be a good problem-solver, negotiator, and communicator.)

13. Bank (i.e., “lender”) does an appraisal. If it comes in under the sale price, we often re-negotiate.

14. Mortgage is approved.

15. “Title” and “municipals” are declared “ok” or problems are addressed.

16. Bank’s attorney and buyer’s and seller’s schedule a closing date, time and location.

17. Receive a draft closing statement to review with your attorney and/or agent.

18. Finalize check amounts, get bank checks, go to the closing! Move in!!

Myths – Pulling It All Together

O the deal memo is written, only the attorneys matter.

A buyer cannot talk to the seller or the seller’s agent.

A pre-approval means you are approved in advance.

The highest offer will win a bidding war.

If there’s no bidding war, we’ve time and leverage.

We can never win a bidding war.

All agents are the same.

Credit score is all that matters since it captures everything.

If you are rejected for your mortgage, that’s that.

Typical Dialog Between Opposing Agents

Typical Dialog Between Realtor and Attorney

Typical Dialog Between Realtor and Lender

Typical Dialog Between You and Your Attorney, You and Your Realtor, You and Your Lender

What Do Real Estate People Really Do?

We Take the Mystery Out of It - The first thing we do is screen-share so you can see how the professionals search, and we set it all up for ongoing results, together!