hatever your reason for buying, know that finding the right home, in the perfect neighborhood and at a cost that is within your budget, is no small task. That's why many buyers enlist the help of a Windermere agent.
Windermere sales associates are licensed professionals with specialized skills. There are many benefits you receive from working with our professionals.

As your Windermere agent --




Beginning the Process

Organization is the key to finding the home you want while spending the least amount of time and energy.

Find out how much house you can afford. Do this before you go house-hunting. I can refer you to a loan officer who can help you determine how much of a down payment you can afford, along with a monthly payment you can handle.

Make a list of everything you want in a home. Is a master suite important? How many bathrooms? What about closet space? Do you need a yard for the kids and pets to play in? How about a fireplace or a bay window? Do you prefer a rambler or multiple-story house? Are schools or access to transportation important?

Separate the essentials from the items you could do without and put them on the "A" list. Prioritize the rest of the items into a second and third list in order of importance. We'll then go over the lists so that I'm very clear on what you want and need in your home.

Keep good notes as we look at homes. After a while, it becomes difficult to remember which features belong to what home. I can provide you with a form and rating system to help you compare homes. Some buyers make audio tapes as they go along.

When selecting a home, look beyond cosmetics. Make sure the home is in good physical condition and that you understand the cost of repairs. For more information on how to assess the home's condition, refer to the "Home inspections" information in this booklet.

Look at additional homes, even if you love the first one you see. Many times, it takes looking at several homes before you find the one that is really right for you.

As your Windermere agent, I'll check with you regularly, even if you haven't found a house that suits your needs. Keeping in contact with you allows us to establish a good rapport, and helps me learn how to help you effectively I'll continue to be on the lookout for homes that suit your needs.

How much home can you afford?

Before you start looking at homes, it's a good idea co find a target price range that you can afford. A mortgage lender will want to make sure you can handle the down payment, plus a monthly mortgage payment made up of principal, interest, taxes and insurance (PITI).

Interest rates and your personal finances will influence the amount of house you can afford. For a quick estimate of a monthly mortgage payment for which you may qualify, use the following worksheet. You can also find a mortgage calculator for any home posted on the Windermere Web site at www.windermere.com. But remember, it's always good to talk to a lender before you start shopping for a home. I can refer you to lenders suited to your specific financial needs.

Purchase and Sale Agreement

Once you've found the home you want to buy, together we'll complete a purchase and sale agreement. This is the contract in which you and the seller outline the details of your property transfer. The purchase and sale agreement usually consists of the following pages:

Frequently Asked Questions

What is the difference between prequalified and preapproved? These terms refer to your status in the loan approval process. Prequalification is a determination of your probable ability to obtain a loan. To become prequalified, meet with a loan officer or mortgage company. They will help you determine the price you can afford, based on your monthly income and your current debts, as well as the cash you have for a down payment.

Preapproval means that the mortgage lender has already verified and approved your credit and employment. Obtaining preapproval early in the process will make your offer more attractive to the seller.
 
What is earnest money? Earnest money is a "good faith" deposit submitted with your offer to show the sellers that you are serious about purchasing their home. Earnest money is a required part of an offer. There is no set amount that is required, but the amount sometimes makes a difference in the negotiation process. Earnest money eventually becomes part of the purchase, and will show as a credit to the buyers on the settlement statement drawn up by the escrow company.
What are closing costs? Closing costs are charges paid to various entities during the real estate transaction. They can include escrow fees, document preparation fees, cost of an inspection and lender fees.
What is a point? A point is equal to one percent of the loan principal. Some lenders charge points, in addition to interest and fees, at closing.
What is title insurance? Title insurance protects against loss from any defects in the legal title, liens against the property or other adverse claims. The lender usually requires title insurance.

Home Inspections

When you're ready to complete a purchase and sale agreement on a home, your offer wili generally be contingent on a professional inspection of the entire property-including improvements. The home inspector looks beyond the cosmetics to make sure that the home's general systems operate properly. The inspector will also look for large repairs that are needed and report on the condition of the home.

The standard home inspector's report will review the conditions of the home's heating and cooling system; interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; foundation, basement and visible structure. The inspector will also look for cracks in cement walls, water stains that indicate leakage and any indication of wood rot.

A home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape.

As your Windermere agent, I'm familiar with home inspection services and can provide you with a list of names from which to choose. Another good way to find a home inspector is to ask a friend, or perhaps a business acquaintance, who has had a home inspection and can recommend a home inspector they were satisfied with.

Remember, no home is perfect. If problems are found, I will help you negotiate through the process.

Settlement - who pays what

During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. "Closing" is when you and the seller sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Settlement obligations vary widely due to specific contract language, local laws and customs. Prior to closing, the closing agent (usually an escrow or title company or attorney) will complete a detailed settlement statement for both buyer and seller. As your Windermere agent, I can help you understand which of the following typical settlement fees apply to you.