Buyers

Welcome to the RE-Assurance buyer’s page! Our ambition is simple; to help make the process of buying a home easily understood -and to assist you with the transaction. We want everyone to be able to go forward with a purchase with no fear, whether a first-time, move-up or investment buyer. If you already know you would like us to contact you regarding help with a purchase, please go to the bottom of the page and e-mail us directly. Otherwise, please continue reading the description of the sale process for further information. Thank you!

The Purchase Process

The easiest way to begin to understand the purchase process is to take a look at the steps involved. There are fewer than you may think, and hiring a good agent is more than half the battle, as we manage many of the pieces- so you don’t have to worry about them. And please remember- hiring us as your agent is paid for by the listing agent and/or seller! So you can rest easy in knowing you can afford great representation.

1st- Loan pre-approval- The most important step in becoming a ready, able and willing buyer is to get mortgage pre-approval. This is handled through a mortgage broker or banker, who takes a look at your financial picture, takes necessary documentation from you, and can tell you exactly what you’ll be able to borrow and therefore what price range you should look in. (Please send us an e-mail and we can quickly get you in touch with a qualified lender.)


2nd- Finding a property- Now we’re ready to locate just the right property. Given your search criteria and price range, we carefully scour the market and help select the property that best suits your needs.


3rd- Offer, Negotiation, and Acceptance- Making an offer and negotiating the best price is the next step, once we’ve done a thorough analysis of the property and the area. This is one of the steps in the process where you really count on your agent to handle the details for you. An earnest money deposit of typically 1-2% of the purchase price is required at this stage, and is paid by the buyer with a personal check (Just send us an e-mail if you’d like more information on creative ways of reducing the amount of out-of-pocket costs- and low to no money down purchase options!) This earnest money is protected by the contract, and should you choose not to buy after the inspection, or if there is a problem with title or appraisal your earnest money is not at risk.


4th- Inspection- Once the property is under contract it’s time for a physical inspection. The buyer is responsible for hiring and paying an inspector to take a detailed look at the properties’ structure and systems. (This is not required, although highly recommended.) There is a given time period in the purchase contract for the buyer to object to the condition of the property or to cancel the offer. The buyer’s agent will handle the negotiations related to inspection issues.


5th- Appraisal- Once inspection issues have been resolved, the mortgage lender will get the go-ahead to have the property appraised. This is done to ensure the collateral for the loan is adequate, and is a cost ultimately paid for by the buyer. (Typically it can be financed in with closing costs.)


6th- Loan finalization, Closing! - Once the appraised value is received and accepted by the lender-then the rest of the necessary documentation will be completed and a loan commitment will be issued. All that’s left is taking title to the property at closing, and the transaction is complete! (Do prepare for some serious writer’s cramp!)


Please contact us so we can get started with helping you acquire just the right property! And don’t hesitate to ask any questions you may have- we’ll respond to you promptly.