Buyers

Pre Qualification

Sellers are often more receptive to individuals who have been pre-approved for a mortgage. By pursuing pre-approval, home buyers are able to avoid the disappointment of pursuing properties that fall outside their financial means. Pre-approval involves a buyer formally applying for a mortgage and receiving a written commitment from a lender.

This provides assurance to the seller that the buyer is a serious contender for the property, assuming the home's cost aligns with the pre-approved amount. The expenses associated with pre-approval are typically minimal, and lenders may even permit payment to be deferred until the loan is closed.

List of Wants and Needs

Consider creating two separate lists. The first should outline essential criteria, such as the number of bedrooms needed to accommodate your family size, or a single-story property if accessibility is a concern. The second list can include your wish list - features that are not necessarily essential but are desired, such as a swimming pool or a den.

As a buyer, it is important to keep in mind that it may be challenging to find a property that includes everything on your wish list. However, creating these lists can help to prioritize your search and guide you towards properties that align with your desires and requirements.

Strength in Numbers

With nearly $150 million in sales over the past four years, Jack has established himself as leading professional in the luxury residential market. His extensive network and ties to legacy international resort properties throughout the United States and beyond have enabled him to achieve unparalleled success.

Backed by their brokerage's reputation as a lpowerhouse, Legacy Sedona's team of experts provides the best service possible to every client. Their commitment to excellence, industry knowledge, and drive set them apart as leaders in the industry.

STEP 1: DEFINING YOUR OBJECTIVES

Objectives

Define your motivation for purchasing a property
Determine your price range
Establish your timeline for moving
Identify your must-have features and deal breakers
Consider your desired neighborhood

Preparation and Planning

Discuss the buying process and objectives with your Realtor®
Obtain a loan approval letter
Sign an exclusive buyer-broker agreement with your Realtor®
Research your target neighborhood with your Realtor®

Understanding the Market

Analyze active, pending, and sold transactions
Review contracts and timelines
Consider personal timing and seasonal factors
Evaluate market including supply and demand, economic conditions
Develop a Profile-Based Buyer Attraction Strategy

STEP 2: FINDING YOUR IDEAL HOME

The Search

Search online listings with your Realtor®
Receive notifications for new and off-market properties
Virtually tour listings from the comfort of your own home
Select your desired location and home

Negotiation Strategies and Offers

Familiarize yourself with the Purchase Contract with the help of your Realtor®
Discuss multiple offer strategies, if necessary
Craft and present your offer, emphasizing your unique buyer strategies
Negotiate to maximize favorable pricing and terms
Accept or counter offers accordingly.

STEP 3: ESCROW/UNDER CONTRACT

Escrow Process

Inform escrow of acceptance and provide the fully executed contract
Submit initial deposit to escrow according to the agreement's terms
Notify your lender to initiate the loan process and schedule an appraisal
Review and sign the opening package of escrow instructions
Contact your insurance agent to obtain homeowner coverage
Provide escrow with vesting or title information

Inspection and Disclosures

Arrange for all desired home inspections, such as a home inspection
Approve or negotiate repairs based on the inspection reports
Review and approve all required disclosures from the seller and the state
Review and approve the preliminary title report
Adhere to deadlines and remove contractual contingencies
Schedule a final walk-through before the close of escrow.

STEP 4: CLOSING

Your New Home

Review the closing statement provided by escrow
Arrange for a virtual meeting with escrow to sign loan documents
Wire the down payment and closing costs as agreed
Arrange to transfer utilities to the new location
Closing, Key Delivery, and Celebration
Complete a move-in checklist to ensure a smooth transition

Future Work

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