Information for:  Buyers | Sellers

Get Your Finances in Order
Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage.  The reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.

Get Familiar with the Mortgage Industry
Finding the right loan and lender is crucial to your home buying success. It’s up to you to determine which lender is best for your needs.  However, I can help you by giving you access to full service lenders with a variety of programs so that you get the best financing for your situation.

Get Pre-Approved for a Mortgage
Do you know how much house you can afford? Probably not, unless you’ve talked with a lender.   Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer’s bank that states they are pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first? 

Determine Your Wants and Needs
Buying a home isn’t as difficult as you might think, even if you’re short on funds, but the process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.  I will give you a Free Consultation to help you get started. 

Work with a Real Estate Agent
Real estate agents represent buyers, sellers, or both.  But I will represent your interests only.

Start Searching for a Home
I will give you multiple listing sheets to study and I’m sure you’ll also pick up House For Sale magazines and read classified ads in your local newspapers. You’ll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. Those are all excellent ways to see what’s available.

Make an Offer
There’s no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location.  I am an expert in Northern Virginia.

Home Inspections and Other Tests
In Virginia, inspections take place after an offer is finalized. It’s critical to decide which inspections and tests you want to perform. Talk with me to find out when inspections should be handled and if additional types of testing are important for your specific area.

You’re on the Way to Closing
Most of your home buying processes is behind you now and you’re on your way to closing, also called settlement, the event that transfers ownership of the property to you.  I will walk you through the process and keep you informed each step of the way.  And, I will attend closing with you.

Check your Mortgage Payoff
Call your lender to check the payoff for your current home mortgage.

Determine How Much Your House Is Worth
Determine your home's fair market value. I can help you determine value as a courtesy, but you might want take it a step further and order an appraisal.

Estimate Your Costs to Sell
The Real estate commission if you use an agency to sell, advertising costs, signs, other fees if you plan to sell by owner, attorney, closing agent and other professional fees, excise tax for the sale, prorated costs for your share of annual expenses, such as property taxes, and home owner association fees, any other fees typically paid by the seller in your area (surveys, inspections, etc.).  I deal with transactions every day and can give you a very close estimate of seller closing costs.

Estimate Cost to Buy a New Home
Calculate moving expenses, loan costs, down payment, home inspections, title work and title policy, paying for a new hazard insurance policy — all expenses related to buying a home. Your lender should give you a disclosure of estimated costs when you apply for loan pre-approval.

Calculate Your Estimated Proceeds
Deduct your mortgage payoff from your home's fair market value and deduct your costs to sell from the remainder to get an estimate of the proceeds you will be paid at closing.  Will your closing proceeds cover your costs to buy a new home? If not, do you have cash or other funding to make up the difference?

Make the Necessary Repairs
Make all needed repairs unless you want the house to be regarded as a fixer-upper. I'm not referring to cosmetic updates — just items in need of repair. Anything that's obviously broken gives potential buyers a reason to offer you a lower price.

Get the House Ready to Show
Most houses need at least a little spiffing up before they are shown to potential buyers. Great curb appeal, fresh paint indoors (and sometimes out), organized closets and cabinets, sparkling clean windows and appliances and a clutter-free look are essential if you want the house to appeal to buyers.

Get Psyched Up to Let People In
When you list your house, I will ask you to leave when the house is shown. Why? Because lurking sellers make buyers nervous — they don't feel comfortable inspecting the house when they feel they are intruding in your personal space.  Make the house accessible. That means it should always be ready to show. Many agents won't bother showing a house that takes 24 hours to get into.