Purchasing a home with Michael J. Roza - Compass
Buying a home is a stressful event for many people, however with a little planning ahead of time, it's not all that hard. So you'll understand exactly what to expect, I like to supply my buying clients with an overview of the entire process in advance. Below are the nine steps to buying a home.
When you're ready to get started, you can contact me here or send an e-mail
. Feel free to contact me if you have questions regarding this information.
Step 1 – Get ready to purchase
There are several things you should consider before starting your home search. When you start your search, you'll want to form an index of items you want to have, plan for what neighborhoods and school districts if applicable that you'd like to live in and establish your budget. A good rule to follow is that your mortgage payment should be no more than 30 percent of your net monthly income.
Step 2 – Contact a local Real Estate Professional – Pre-Approved for Financing
This is where I come in. Let’s set a time to get together to discuss your real estate needs and wants regarding the ideal house and location that would be an exciting place for you to call home!
I have seasoned connections to local reputable bankers, title companies, home inspectors and the like should you need referrals. Unless you’re paying cash, it’s a must that you get pre-approved for your financing as focusing in your pre-approved price range is in your best interest to save time and avoid being disappointed.
Getting pre-approved is not a condition for my taking the time to meet with you but it is a highly recommended task you should complete or at least get started with before looking at property listings.
Step 3 – Start looking for a home
When your price limit is established and the ideal home wish list is completed, I’ll set up property alert’s, so you are immediately notified about new listings that match your desired criteria. My buying clients typically contact me right away on receiving a listing alert that strikes their fancy for me to then go to work in finding out if there is a set offer date or if the seller is taking offers as they come.
If the home is of interest and the seller is taking offers as they come I will preview it for you right away or we can view it together ASAP.
You will quickly find out, I am on your side and have your back after we view listings together in that ;
“I sincerely care more about you being settled in the right home over my making a quick sale.”
Generally, buyers amend their wish list as I tour homes and some things become more crucial than others. If that's the case, I'll look through the listings again and narrow it down to the house of your dreams.
In looking at listings together, I will point out the good as well as the not so good features - conditions of each property and will encourage you to share with me what appeals to you and what you dislike.
Step 4 – Understand the market
An agent's awareness of the Bay Area/Peninsula market is a necessary component for today’s home buyer to succeed in buying a home. Most of newly listed homes when priced correctly are attracting multiple offers quickly in the $4 Million and under range.
I know the players meaning the other agents and how many of them operate and what it takes to submit a strong compelling offer to compete with other agents.
You can be assured I am well acquainted with neighborhoods throughout San Mateo County through my 20+ years in selling and in being a bay area native living here my entire life.
When I view homes, I’ll be sure to communicate if the asking price is set, "priced to sell and what I would personally offer if I were in your shoes. I may suggest you pass on a property to pursue a better one due to the asking price, condition, location or all three.
Step 5 – Found the right house!
Found the right house! Now it’s time to check in with your banker and gather the documents needed like your pre-approval letter and your checkbook!
Prior to writing your offer, I will gather all the sales data available for you to decide on price, carefully review the seller’s disclosures that include the homes inspections if we haven’t already.
I can near guarantee that you will succeed in getting your offer accepted if you follow my advice except for the price and down payment you submit. Offered purchase price and down payment stand on their own.
Many agents work hard in finding the right home for their clients but fail at the table. Failure is submitting a weak poorly written - incomplete purchase contract/offer especially when the house attracted multiple offers.
The offers I prepare and present are always complete and well organized.
Step 6 – Offer Time!
I will assemble a very organized compelling offer with you that is sure to impress the seller and his or her listing agent!
I prefer to present offers direct rather than emailing when possible. The trend now is to submit offers via email, but I can near promise your offer will be presented by me in person.
Step 7 – Offer Accepted!
Congratulations, no more open houses – meeting at odd hours to view listings!
I will first contact the title company to open a sale escrow, have them pick up your deposit check and provide a receipt or instruct them to contact you for a wire transfer if you prefer.
Next, I will go to work on processing the thick pile of sale documents and start the coordination of the sale process being available for you always as I work together to finalize your purchase.
Step 8 – Finalizing the Sale.
In Real Estate Sales I refer to” Closing Escrow “when finalizing a home purchase.
At this stage you will be in constant contact with your Banker, Escrow Officer and others while I process documents and make sure everyone is communicating so I can close your escrow on time.
As we approach the finish line I will turn in my final instructions on your behalf to our escrow officer and check in with your banker regarding the date loan documents will be at the title company, so I can schedule you for the formal signing.
If time permits, I will review and send you your actual final buyers cost statement, so you can review it in private days prior to your signing closing documents at the title company.
Step 9 – Move in
Success! Now you can move into your new house. Enjoy it! And know you will remain a high priority with me for life should you ever need my help in any aspect of home ownership. My goal with each and every client is to earn their future business and referrals by exceeding their expectations the first and every time!
Call 650-888-1778 or send me an e-mail.