Buyers

If you’re considering an investment in real estate, we’re here to provide you with the latest market trends and identify your unique home-buying needs.  Michelle’s expertise and long-standing devotion to the community gives you access to comprehensive and up-to-the-minute knowledge of the local property market.

Knowing the latest real estate trends is vital to taking advantage of the latest opportunities and options available in our area.  Contact Michelle Tucker today to learn more about your current and future real estate options, and develop a plan of action customized for your individual household’s needs.

Buyer Checklist

  • Evaluate your budget – know what you want to spend for a down payment & closing costs as well as monthly expenditures (i.e.; maintenance, insurance, real estate taxes, monthly mortgage payment, utilities, parking, etc). Down payments can range from $500.00 to 20% or more of purchase price and closing costs can range from 2.5% to 5% of your final loan amount.
  • Obtain mortgage pre-approval from your lender and/or bank.
  • Identify your timeline for moving & explore different neighborhoods to identify your preferred needs such as location, space, schools, amenities, features, restrictions etc…

Purchasing Process

  • If you are financing you must 1st seek pre-approval for a mortgage: Typical time frame 1 to 2 days. You must know how much you can spend before you spend it. A pre-approval will require your credit to be pulled and for you to verbally supply details about your income and assets so that a Mortgage Loan Originator can determine how much you can qualify for and provide you with a pre-approval letter with preliminary terms of specific loan programs (FHA, Conventional, Portfolio, Jumbo, etc…)
  • If you are buying CASH you can easily bypass step #1 but must be prepared to provide Proof of Funds to show you have enough liquid assets to purchase w/o obtaining a mortgage.
  • Find a property: Typical time frame can range from 1 week to 2 months. Depending on what you are looking for, the length of your search will vary. The average person sees 10-15 properties before deciding on one. Internet-savvy buyers save time by doing their ‘homework’ before their search. The average number of properties viewed before buying by our internet buyers is 4-5.

  • What You Can Expect

    • An assessment to determine your current real estate needs
    • Market tools to best determine your options
    • Consistent communication and regular updates
    • Respect for your time and schedule
    • Access to up-to-date market reports and listings
    • Professional representation in negotiations and throughout the purchasing process
  • Make an offer on a Property and Negotiate Terms: Typical time frame 1 day to 1 week. This is where we will determine price, terms, and certain contingencies such as inspections, financing, appraisal, HOA etc… Everything is negotiable so inquire about assessments, fixtures, window replacements, air conditioners, rugs, floors, curtains, appliances, working fireplaces, washer dryers, etc…
  • Execute a Contract and Open Escrow with Deposit: Typical time frame 1 day to 1 week. Once the contract has been executed buyer makes a deposit to open escrow depending on the agreed upon term in the contract. The deposit amount can range from $500 to 20% down for deposit. All Escrow Deposit Funds are held by the Real Estate Company, Title Company, Escrow Company, or an Attorney and those funds are applied towards the closing on the designated closing date.
  • Apply for a Mortgage and Receive Commitment Letter from Lender: Typical time frame 1 to 3 weeks. Mortgage Loan Applications cannot be processed without a fully executed purchase contract.
  • Satisfy Conditions on Mortgage Commitment Letter from Lender: The lender will have specific conditions that must be met before they will finance your purchase. These conditions can be appraisal, certain financial info, personal info etc… Once you and your mortgage loan officer have satisfied these conditions you are then issued a CLEAR-TO-CLOSE.
  • Schedule a Closing: Typically the closing date will already be agreed upon on the purchase contract but there are instances that allow for a buyer to close prior to the agreed upon closing date or extend the closing date if need be.