MONDAY MOMENTS WITH MICHELLE – The BUYING Process: Finding a Home

Welcome to Episode 12!

 

This week I’d like to dive into the process of home BUYING. Whether it’s your first home, an investment property or you are upsizing or downsizing, it is pretty much the same process. Where do you begin?

 

Most people look at real estate from time to time on the internet, either to figure out what they want or to find out the current prices of homes in their area ultimately to determine whether it is feasible for them to buy. Some people drive around the neighborhoods that they would like to live in and call the agents on the lawn signs. Either way, both methods will eventually lead you to a real estate agent.

 

When a BUYER calls me to view a home, I like to schedule a face to face meeting first, before I set up a showing. This way I can get to know the BUYER, establish a rapport and determine his/her needs, financial capability and must-haves. I prefer having a relational connection to my BUYER as opposed to a transactional one. This means asking a lot of questions to form my next action steps towards helping a BUYER through the maze of home purchasing and building a lasting relationship.

 

Before we even begin looking at homes, I absolutely need to know:

 

#1 - “Do you need a mortgage to pay for your home?”

 

If the answer is “YES” my second question will be,

 

#2 - “Have you spoken to your bank/mortgage broker to find out how much you qualify for?”

 

If the answer is “YES”, we go on to the next step.

 

If the answer is “NO”, there is no point in moving forward since we don’t know the target we are shooting for. There is nothing more disappointing for all parties involved when you find a home that you absolutely LOVE, and you can’t afford to buy it, not to mention how much time was wasted. One of my non-negotiables is that my BUYERS MUST be pre-qualified before we even step foot in a listing. I do have close ties to mortgage brokers that I trust and can steer you in the right direction to getting pre-qualified. I am here to help all along the way!

 

Let’s say that you are pre-qualified and good to go. I immediately set you up with an auto-listing email (with your permission of course). I load your criteria into my system and generate an automatic email that sends you listings as soon as they come out. This way you know what’s available as soon as I know. You then call me to arrange for viewing your favorites.

 

In our first meeting, out of the many questions that I asked, we established a list of your NEEDS and WANTS and your MUST-HAVES in the home. In any home purchase, you will never get ALL of your boxes checked off. There will always be some trade-offs or concessions to the “perfect home” so keep an open mind. For example: If one of your MUST-HAVES is a triple car garage, will a double garage work if all the other criteria are met? You want 5 acres but will 2 acres do?

 

Let’s go looking! We can either take my car or I can meet you at the first listing scheduled. I don’t usually like to show more that 5 listings in one tour as I feel that they all seem to blur together at the end of the day. It’s nice to have each home viewed fresh in your mind. Generally, a BUYER knows within the first 8 seconds after entering a home whether they are interested in it or not.

 

Of the many BUYERS I have worked with, some have wanted only to look at “move-in” ready homes. They don’t want to have to do updates, renos, etc. From experience I have learned that there is no such thing as a home that doesn’t need anything done to it once you move in, even brand-new builds. Every homeowner always does something in their new home to make it theirs.

 

These are just the first steps in being a BUYER. Next week, let’s discuss what happens next when you find “the one”. I will walk you through the OFFER process step by step.

 

Feel free to reach out to me regarding this content or to suggest subjects you would like to learn about.

 

Oh, by the way! I am NEVER too busy for your Referrals, either! Tell your friends!

 

Have a great week! Definitely call me if you want exceptional real estate service!