The steps in the home buying process are explained below and include helpful worksheets and tips. We look forward to working as a team with you to find your next home!

Consultation

Your first and most critical step is to decide what you are looking for, and to then meet with me to review those needs and wants. Of course, your list might change throughout your search and that is OK, but deciding your basic criteria is key.

Financing

It is a significant advantage if you are pre-approved for your financing before you make an offer to purchase a property. You may have your own financing sources, or we can help make arrangements for you.

Pre-approval will help in many ways including:

1) You may buy your home at a lower price, or sellers may choose your offer over another because they know you are able to perform financially. We have seen situations where a seller actually chooses a lower offer because that buyer was already approved.

2) Interest rates are usually locked in for a set period of time. You will know in advance exactly what your payments will be on offers you choose to make.

3) You won’t waste time considering homes you cannot afford.

4) You can select the best loan package without being under any pressure.

Property Location

One of the most enjoyable aspects of buying a home is looking at different properties. This gives you the opportunity to compare all sizes, conditions and styles of homes in your price range.

We will look at as many homes as you like until you are ready to make a good choice.

We will be constantly looking for homes that match your requirements. We will either notify you by e-mail, phone or fax almost daily as new homes come on the market. Remember, once you have taught us to see through your eyes, we will be looking every single day for you. Let us know if anything changes such as timing or specific needs and we will adjust accordingly.

If you see a property you like with a Realtor For Sale sign, a For Sale By Owner sign, or see an ad in the newspaper or on the Internet, just call and we will make an appointment to get us in. Sometimes a friend or associate may give you a lead that a particular property is going to be For Sale and we will follow up on your behalf.

Don’t be surprised if the first homes you see aren’t perfect for you, and don’t get discouraged. Here are a few tips and things to expect during the home search process.

1) Keep your original priorities top of mind when looking at each property. (School district, size, number of bedrooms, yard, area, view)
2) Keep a notebook with lists of likes and dislikes. It is easy to get overwhelmed after seeing many homes in a single week.
3) Consider the homes resale value as well as its appeal for you now.
4) Consider condition, floor plan, curb appeal, and overall amenities and special features.
5) Be patient.
6) Be ready to move quickly when the right house comes up.

Negotiation

In negotiating the purchase of a property, the first step will be to make a written offer. This is called a Purchase Agreement. Your offer will be accompanied by an earnest money check or what is sometimes referred to as “good faith deposit.”

When making an offer you will be considering the following items/questions:

1. Your proper/legal name(s)?
2. What is the offer amount?
3. How long would you like to wait to close?
4. Deposit amount? (earnest money)
5. Loan Amount you would like. How much cash will you be putting down?
6. Do you want a loan contingency? (Most Do)
7. Is your offer Contingent on the sale of another home?
8. Do you have a pre-approval letter?
9. Appraisal contingency? Yes or No?
10. Inspection & Pest Company?
11. Possession of home?
12. Home Protection Company? (A Home Warranty will be requested from the sellers)
13. Additional coverage for home protection insurance such as pool, spa, air conditioner, roof, septic?
14. Personal property to be included?
15. Affixed property to be excluded?
16. Timing to remove inspection contingencies?
17. Time you will allow for the seller to respond to your offer?

Your offer will be written on a RE/MAX Purchase Agreement form. If the initial offer is not accepted by the seller, further negotiations generally reach terms agreeable to both parties.

At the time a written offer on a property is accepted you will make an earnest money deposit in the form of a personal check. This check will not be handed to the seller, but rather made payable to a RE/MAX Central Group non-interest bearing trust account, for holding. This earnest money simply shows the seller that you are serious about the property. Your earnest money will be returned to you, in a check, at closing.

TIP: Don't Get Emotional. Too often we lie in bed at night and move our furniture into the home we are bidding on. Don't fall into this trap. Although it is good to be excited about a home you are about to purchase it is best to not get emotionally attached since that hinders your negotiation ability. Once you are past the inspection stages feel free to get as excited as you wish.

Escrow

Once you have an accepted offer and your deposit check is in Escrow, you have “Opened Escrow.”

Escrow is a neutral third party that handles all the document transfers. Examples of these are Grant Deeds, Trust Deeds, Escrow Instructions and Amendments.

We will assist you through the paperwork that it takes to get through the Escrow process. You will meet with us early on in the transaction and we will be with you throughout the process and paperwork to closing.

During the Escrow period, which is determined in the purchase contract, all conditions of the contract are met. You, the buyer, will complete all of the desired inspections and remove contingencies - with our help.

Inspections:

Pest/Bugs- This is an optional inspection for all homes sold in Ohio – however it may be required by your lender. It is usually paid for by the buyer. If required by the lender, the buyer must agree to the findings and the property must have a clear termite report before closing escrow.

Physical- This is optional, but highly recommended. We can suggest some respected Inspection Companies or you may use your own. This appointment takes several hours. It is important for you to be present. We can be there for you if you are relocating to the Toledo area and cannot be in town. You will receive a full written report with all the findings. You will have an opportunity to respond in writing to any item you feel is necessary to have repaired or replaced. The time frame is stated in the purchase contract and we will be there to help you prepare a response.

Other Inspections:

You may consider it important to have additional inspections such as Radon, Structural, Geological, Mold, Pool & Spa, or Roof. We can advise you on these particular inspections and recommend a list of professionals, or you may use your own. In most cases you will receive a written report. Prices for these vary.

After you are satisfied with all the inspections and agree to the findings, we will remove your inspection contingency. This is done by matter of written notification to the seller.

Loan Contingency:

Most likely you will be working with a loan officer. He/she will be in contact with us and your Escrow Officer (Title Company) keeping them informed of your loan progress. When you have locked into a loan and have been approved they will notify escrow and you will meet the loan contingency. If you are unable to get a loan you can exit the escrow without penalty of losing your deposit if you do so before the loan contingency expiration date, which is fixed, in your offer contract.

Closing

You have come to the end of the Escrow period and now it’s time to wrap up the final details.

We will be there for you to make the transition as smooth as possible. This is a time when everything comes together in a short amount of time and attention to detail is extremely important.

Below is a list of what to expect prior to closing and some of our special closing services:

The Final Walk Through:

Prior to the escrow closing, we will arrange a final walk through of the property. This gives you, the buyer, an opportunity to see that all repairs were done to your satisfaction. This is also a good time to have the seller explain anything unique or mechanical details about the house such as special lighting, sprinklers and pool equipment.

Utilities Transfer:

When a closing day is determined you will need to arrange to have the utilities transferred into your name. We will give you information that will help you switch all of your utilities.

Finalize Loan and Bring in Money:

Shortly before our closing, you will receive an estimated closing statement. The Escrow Officer will give you an exact dollar amount needed to bring into escrow in the form of a cashiers check. The cashiers check should be made out to your name.

Closing Day:

We will make arrangement to have the keys and any garage door openers for you on the day escrow closes.

Moving Day:

The day you record and close escrow may not always be your moving day. We will help you in any way to make arrangement for your move... all we ask is that you don't ask us to pack for you!