Thank you for visiting my website. I am an Accredited Buyer’s Representative (ABR®) which means I focus on working directly with buyer-clients like you. The ABR designation is the benchmark of excellence in buyer representation. In most cases I represent home buyers at no cost to the buyer-client. I have years of experience buying and selling homes here on the Virginia Peninsula. Let me work for you. Please give me a call at 757-329-4714.
Step 1 – Loan Pre-approval
You may be thinking ‘I know I can get the money’ and want to skip this step, but this is actually the most crucial step of all. Not knowing how much money the bank will lend you and how much it’s going to cost to get that financing, you’ll just be setting yourself up for disappointment later on. Lending guidelines change on a daily basis, one loan program that is available today, could be unattainable for someone who qualified for it the previous day. In addition to the loan amount your payment will be affected by your credit score, how much money you make, how much debt you have, and your debt to income ratio.
This is critical information to know to know before you start looking at homes. Not only will this help you narrow your search, but it also puts you in a better position to negotiate the best deal on your new home. It usually takes two days to a week for a lender to get you a pre-approval letter. To get started now and find out how much the bank is willing to lend you, click here for my recommended mortgage professionals
Step 2 – Begin Searching For and Previewing Homes
Congratulations on completing Step 1. By taking the time to go through the pre-approval process, you are now in a stronger bidding positions and know what price range of homes you qualify for. Now is the fun part, we start searching for homes. But before we do, I like to sit down with you and ask you a few questions about what your needs are so I can start searching for the right type of home in the right area. Hampton Roads real estate agents have a database that we share real estate listings with each other; this gives real estate agents the ability to search for every single property in Hampton Roads based on the criteria you’re looking for in a home.
This database of homes is called the Multiple Listing Service or MLS for short. You can find a basic version here on my website. It is a good way to watch everything on the market. I have the Hampton Roads MLS available to you to search for homes for sale, view pictures, virtual tours, property descriptions, room sizes, save your favorite properties. You can even send yourself newly listed homes for sale directly to your email. All of this is available to you at no cost or obligation.
Whatever method you should choose to search for homes, the best idea is to review the listing information and choose several homes you’re interested in and then drive by them to take a look at the exterior and the neighborhood. If you’re still interested in seeing them, contact me and I’ll set up an appointment with the seller for you to view the homes you’re interested in.
Step 3 – Write an Offer and Negotiate the Best Price and Terms
Now that you’ve found the perfect home, it’s time to make an offer to purchase. Before you get started with the offer though, I will search and prepare a Comparative Market Analysis (CMA) which compares the home you’re interested in to comparable homes nearby. I will help guide you in determining the best price to offer. Now you’re ready to write-up the offer! As soon as your offer to purchase has been completed, I will present it to the sellers. One of three things can happen. They can accept your offer, counter your offer or reject your offer.
It’s my job to convince the sellers to accept your offer the way it is, but more times than not, the seller counters your offer. If this is the case, we go back and forth until everyone agrees on terms and price. Once your offer is accepted we will open an escrow account and coordinate with service providers, keeping you informed all along the way until the closing on your new home.