mikehubrich@gmail.com or call 502 296 1815
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Steps we take to buy a home SEARCH for homes
1
Meet
to discuss your needs and explain what we do (day 1)
2
Discover
what you want and are willing to pay (loan officer) (1 day)
3
Send
you through email, listings that fit your needs (as long as needed)
4
Arrange
to see the homes you are most attracted to ( 1 week usual )
5
Offer
a contract on the home you want and negotiate (2-5 days)
6
Inspect
house (5-10 days after signatures)
7
Reject or accept
the house after inspection
8
Close
and move in (3+ weeks after contract signed)
Frequently Asked Questions
Q. Who pays your agent's fee?
A. Buyers working with us pay none of the commission we
receive because the seller of the home you purchase has agreed to pay their
Realtor's agency a commission. The buyer's agent receives a share of that
commission at closing. If you are selling, there is a listing contract between
you and the listing agency. Commission amount is described on the contract and
that is paid at closing. On the MLS, it states how much is shared with a buyer's
agent at closing.
Q. What are closing costs and how much will they be?
A. At closing, the attorneys charge a fee for
services rendered such as mailings, title searches and office expenses. Those
may be a few hundred dollars. What will drive the costs above those reasonable
fees are prepaid costs which are also listed on the
closing statement. Pre-paids are as the word describes. You must pre-pay your
first year taxes and homeowners insurance unless you are paying cash and there
is no loan company involved. Consult a real estate attorney for how you should handle those. Taxes are prorated for the remaining of the year you will own the home. If you close on July1, you are responsible for half of that year's taxes. Roughly figure ( .1%) or (.001) of the value of the home per month for property taxes.
Homeowner's insurance is more difficult to estimate because the premiums are
different from one company to another. Contact a reputable insurance agent and ask for a
free estimate based on the home you want to buy.
Q. How long will it take for me to find a home, then be able to move in?
A. Plan on at least 2 weeks of looking to decide on a
home. Shorter is OK, but typically longer is expected.
We guide and help you through every step
1. Meet with us and describe what you need
2. Obtain a prequalification letter from a loan officer (we can
assist you if you need to find a lender)
3. Receive MLS listings that fit your
criteria. We create a search/notification system for you.
4. Tell us which homes you'd like to visit for consideration.
5. Visit several homes for comparison.
This could take a few days or a couple of weeks.
We arrange several homes per day or just a few, depending on your need.
6. Re-visit the one(s) you wish to consider, decide, then make an offer.
(good faith deposit-$500-$2000) ______________________________1 - 2 weeks
7. Receive an offer response. Negotiate and come to an agreement.
8. Inspect the home (home inspector-$300-$350 or more for above average priced homes) (termite inspector- $45-or more)
9. Ask for repairs to be made at the seller's expense
10. Decide whether to buy the home based on the seller's response.
11. Obtain a target closing date __________________________________3rd week
12. Go to closing
and move in that day
or the day the contract agreement says.__________________additional 2 - 5 weeks
Q. Good faith deposit? What's that?
A. To bind a contract, there must be "consideration"
usually in the form of money. It is unusual to offer less than $500 because
less would show a low financial credibility. It is preferable to offer $1,000
or more. Whatever that amount is, your check is placed in an escrow account
until the closing day where it will be applied to the price of the home or
returned to you if the deal falls through for acceptable reasons. What are
those reasons? (1) your financing is refused for any reason. (2) the inspection
results are unacceptable to you. (3) Repairs you request to make the house
acceptable to you are refused by the seller.
Steps we take to buy a home SEARCH for homes
1
Meet
to discuss your needs and explain what we do (day 1)
2
Discover
what you want and are willing to pay (loan officer) (1 day)
3
Send
you through email, listings that fit your needs (as long as needed)
4
Arrange
to see the homes you are most attracted to ( 1 week usual )
5
Offer
a contract on the home you want and negotiate (2-5 days)
6
Inspect
house (5-10 days after signatures)
7
Reject or accept
the house after inspection
8
Close
and move in (3+ weeks after contract signed)
Frequently Asked Questions
Q. Who pays your agent's fee?
A. Buyers working with us pay none of the commission we
receive because the seller of the home you purchase has agreed to pay their
Realtor's agency a commission. The buyer's agent receives a share of that
commission at closing. If you are selling, there is a listing contract between
you and the listing agency. Commission amount is described on the contract and
that is paid at closing. On the MLS, it states how much is shared with a buyer's
agent at closing.
Q. What are closing costs and how much will they be?
A. At closing, the attorneys charge a fee for
services rendered such as mailings, title searches and office expenses. Those
may be a few hundred dollars. What will drive the costs above those reasonable
fees are prepaid costs which are also listed on the
closing statement. Pre-paids are as the word describes. You must pre-pay your
first year taxes and homeowners insurance unless you are paying cash and there
is no loan company involved. Consult a real estate attorney for how you should handle those. Taxes are prorated for the remaining of the year you will own the home. If you close on July1, you are responsible for half of that year's taxes. Roughly figure ( .1%) or (.001) of the value of the home per month for property taxes.
Homeowner's insurance is more difficult to estimate because the premiums are
different from one company to another. Contact a reputable insurance agent and ask for a
free estimate based on the home you want to buy.
Q. How long will it take for me to find a home, then be able to move in?
A. Plan on at least 2 weeks of looking to decide on a
home. Shorter is OK, but typically longer is expected.
We guide and help you through every step
1. Meet with us and describe what you need
2. Obtain a prequalification letter from a loan officer (we can
assist you if you need to find a lender)
3. Receive MLS listings that fit your
criteria. We create a search/notification system for you.
4. Tell us which homes you'd like to visit for consideration.
5. Visit several homes for comparison.
This could take a few days or a couple of weeks.
We arrange several homes per day or just a few, depending on your need.
6. Re-visit the one(s) you wish to consider, decide, then make an offer.
(good faith deposit-$500-$2000) ______________________________1 - 2 weeks
7. Receive an offer response. Negotiate and come to an agreement.
8. Inspect the home (home inspector-$300-$350 or more for above average priced homes) (termite inspector- $45-or more)
9. Ask for repairs to be made at the seller's expense
10. Decide whether to buy the home based on the seller's response.
11. Obtain a target closing date __________________________________3rd week
12. Go to closing
and move in that day
or the day the contract agreement says.__________________additional 2 - 5 weeks
Q. Good faith deposit? What's that?
A. To bind a contract, there must be "consideration"
usually in the form of money. It is unusual to offer less than $500 because
less would show a low financial credibility. It is preferable to offer $1,000
or more. Whatever that amount is, your check is placed in an escrow account
until the closing day where it will be applied to the price of the home or
returned to you if the deal falls through for acceptable reasons. What are
those reasons? (1) your financing is refused for any reason. (2) the inspection
results are unacceptable to you. (3) Repairs you request to make the house
acceptable to you are refused by the seller.