Home Buying Process
Let’s run through the 10 step home buying process and what to expect as we go. Here we will cover everything from searching for the right home all the way to what to expect at the closing table.
1. Pre-Qualification
The first step in the home buying process is to determine your pre-qualification status with a reputable lender. If you are purchasing a home with cash then you can skip right down to Step 2. During this process, the loan officer will discuss your target budget, your credit, your current debt obligations, current income and a number of other key items to determine what your maximum purchase price should be, including closing costs. I partner with a few amazing lenders I can recommend, who are great at creating a personalize game plan for smooth sailing financing. Beware, not all lending companies are created equal.
2. Home Search & Portal Setup
Some buyers start searching for homes during the pre-qualification process, or shortly thereafter. The most efficient way to do this, and one of the benefits to working with me, is gaining access to the Multiple Listing Service (MLS) portal. The MLS portal is your ticket to quickest and most comprehensive way to see everything that’s available on the market, which may not ever hit Zillow, Realtor.com or other home search sites. When we set up your MLS Portal, we will capture all your must-have criteria in a home, and you will begin receiving email notifications the moment a house that meets your criteria hits the market.
3. Showings
Now that you have access to the MLS portal, you will be able to favorite houses, make notes for yourself or for me, and ask questions about listings you’re interested in. In the background, I will also be sending you listings I think you may like, which may meet most of your criteria, but not all. Keep an eye on your emails and reach out the second you find something you are interested in seeing. We will set up a showing, ideally the same day, and if the home is a good fit, we will start talking strategy and writing an offer.
4. Submitting an Offer
You have found the perfect home and want to submit an offer. At this point, there are a few things that need to happen. First, I will check with the listing agent to determine if they have any offers currently on the table, determine what may make our offer especially attractive to the seller, and complete our due diligence to make sure we are not over-paying for the home. We will work together to write an offer that you’re comfortable with, balancing factors such as purchase price, closing cost assistance, tax prorations, closing date, earnest money and a bunch of other fun stuff. The key here is to have a perfect blend of give and take to create the winning offer.
5. Offer Acceptance
During this phase, there may be some back and forth negotiations or simply an acceptance of what we offered. Since we did the right things and got all of the information necessary to write the best offer, the sellers have accepted our offer as is and we are now considered “Under Contract” and the home will be moved to pending. But this is still just the beginning of the home buying process and where a lot of the work starts for myself, the lender and the title company. During this phase I will also collect Earnest Money and deposit that into the escrow account. If you would like to read more about earnest money, Click Here
6. Post-Acceptance
As soon as we get under contract there are a few things that need to be done very fast in order to stay within our contractual obligations. The first is to start the loan application with your lender. We will notify them that you are under contract for a house and the official loan application process will start. Next we will schedule inspections. Typically, the “inspection period” means that you have a 14 day window to schedule and complete the inspection, as well as wrap up negotiations on any requested repairs or other findings.
7. Inspections
The inspection is your chance to have a professional whole house inspector come in and dig through all aspects of the home and will work to uncover defects in the home. Scheduling inspections is an easy process but you will want to compare at least three different inspection companies and pay attention to their reviews and ratings. I have a list of trusted companies I use frequently, but you are free to choose whomever you want. Once you have selected an inspection company, give them a call and schedule the inspection. The home inspection can range anywhere from 1.5 hours to 5 hours depending on home size and condition. You only need to be there for the tail end of the inspection so the inspector can walk you through all of the findings in person, but you are more than welcome to stay for the whole inspection or not go at all. I will always be present at inspections.
8. Post-Inspection
After the inspection is complete, the inspector will email a detailed report of all findings. We will review these findings together and determine what we would like to have repaired prior to closing. The key here is to focus on property defects. For example, maintenance items such as wearing paint, an unstained deck, or dinged up trim are not considered defects. Once we have determined which defects we are okay with and which we would like to have repaired, we will request quotes for the repairs, and send a post-inspection agreement over to the sellers to review. Similar to the offer, this may include some back and forth, which is not uncommon. Once an agreement has been met, all parties will sign the post-inspection agreement and the seller will get to work making repairs.
9. Appraisal
Once you get through the Post-Inspection phase, the next major step is the appraisal. As soon as you are under contract, your lender will schedule a third-party appraiser to take a look at the property and provide them with an appraisal report. The report will estimate the value of the home based on comparable homes both on the market and that have recently sold. This is to ensure that the buyer is not overpaying and also to ensure that the home condition is as advertised.
10. The Home Stretch
This can sometimes feel like an eternity, but once we are through the appraisal process, the lender, title company and Realtor(s) will be working behind the scenes to get everything prepared for closing. During this period, you may be asked to verify information or collect additional documentation for your lender. The final milestone is getting the “Clear to Close” from your lender. As soon as this happens, we can schedule the closing date, time and location. The last step is to wire any funds necessary for closing, secure any checks or cashiers checks, and attend closing. You will leave a proud homeowner! Congrats!
My 10 Commandments
- I will always return your phone calls, emails and text messages with urgency
- I will always give you the truth no matter the situation
- I will always provide you with expert advice and consultation so that you’re able to make an informed decision
- I will fight to ensure you get the best deal possible for your home
- I will always communicate with you proactively
- I will always do what is right and in your best interest
- I will always use the most innovative and effective strategies to market your home
- I will do what I say
- I will proactively search for and seek out the perfect home
- A referral is by far the best compliment, and because my goal is to build my business 100% by referral, I’m committed to providing you an experience that makes you excited to refer me to your friends and family
Who am I?
BEWARE: If you are looking for a lazy, passive, slow to respond Realtor who never likes to smile or have fun, please do not contact me. I like to have a good time while I work with my clients and I would love for you to enjoy your home buying or selling experience like you would a snow day. This process can be very stressful at times, especially for first time buyers, but it doesn’t have to be! I will do everything in my power to exceed your expectations, make the buying and/or selling process as smooth as possible, and deliver the results you expect. We will celebrate the wins, fight through any obstacles together, and have some laughs along the way. **I cannot actually guarantee your happiness, I am only a Realtor after all.
I currently reside in Springboro, OH, with my wife Jessica and our miniature Dachshund, Charlotte, who competes in the annual Springboro Oktoberfest Weiner Race. I grew up in north Dayton but migrated south for easier access to both Dayton and Cincinnati. This relocation, coupled with my unparalleled interest in the southern Ohio real estate market, has given me the opportunity to really get to know many of the Dayton and Cincinnati suburbs.
I have been unusually passionate about all aspects of Real Estate for the past 15 years. In fact, I first became a licensed Realtor immediately after high school, and have been involved in one way or another, personally or professionally, ever since. Real Estate isn’t generally a hot topic for many young adults, but for me, it was. I strive not only to be the best Realtor in the Dayton and Cincinnati markets but I also actively invest in these very same markets, as well. I have done everything from flipping and rehabbing my own properties, to buying and holding apartment buildings. It’s safe to say, with my wildly diverse background, I am also investor friendly, and would love to help you find your first, or next investment property.
Racing Champion
