- Before deciding to purchase a property, it's essential to understand how you will finance the investment. If you plan to use a mortgage, you will need to obtain a pre-approval from a lender. In our area, most sellers require a pre-approval letter before considering an offer. Alternatively, if you intend to purchase the property with cash, sellers typically request proof of cash funds. I can explain the details of these further during a zoom or phone meeting.
- Guidance through the process includes the initial search to the closing table guiding you through each step of the home-buying process, helping you to avoid pitfalls and ensuring ALL LEGAL AND PROCEDURAL ASPECTS are correctly handled.
Definitions:
- Earnest Funds: The Earnest Funds are good faith money, they are negotiable and once agreed to in a fully executed contract must be deposited into the escrow account of the buyer’s closing attorney within 5 days. EM funds are refundable if the sale is canceled by the buyer within the due diligence period. NOTE If the buyer decides not to buy the home after the due diligence period and before closing, the Earnest money is forfeited to the seller. The Earnest Money is a credit to the buyer at closing towards the purchase of the property.
- Due Diligence Money: Is fully negotiable and paid directly to the seller (in Their Name), These funds Are A NON REFUNDABLE fee that gives the buyer the exclusive right to inspect the home and close on the contract. These DD funds are NOT refundable even if buyer’s find a problem with the house before, during or after inspections!! DD money is a credit to the buyer at closing.
- Due Diligence Time Period: The amount of time the sellers agreed to allow buyer to inspect the property, negotiate repairs, and or obtain confirmation of a loan. This time period is negotiated in the offer to purchase contract.
- Per NAR settlement The NC Buyer Agency Agreement needs to be completed, discussed and signed by prospective buyers before showings can begin.
Contract Through Due Diligence Period :
1. Send fully executed contract to buyers attorney and seller’s agent.
2. Buyer sends Due Diligence Non refundable check to seller immediately upon fully executed contact.
3. Order Home Inspection, Optional, Pest, Radon, Well, Water, Septic.
4. Ask buyer if they want a survey completed. (can take up to 4-8 weeks)
5. After Home Inspection is completed get quotes on repairs/negotiate repairs/create due diligence repair request.
6. From my vast network of professionals such as mortgage brokers, inspectors, attorneys, and home repair specialists I can provide additional support and services needed during this process.
7. Buyer sends (wires) Earnest Money to closing attorney made out to closing attorney’s trust account within 5 days of fully executed contract.
8. Email pest inspection to attorney if buyer is obtaining a loan.
9. Make sure appraisal is scheduled before DD ends. (for loan)
10. Due Diligence Repair list must be signed by both parties, this needs to be negotiated before THE END of the due diligence period.
End Of Due Diligence Period Through Closing:
1. Buyer needs to purchase home Owners Insurance, I can recommend a number of agents.
2. I'll obtain list of all providers, electric, water, wifi, garbage, etc.
3. Buyer needs to Open up or transfer utilities which include or may include, electric, water, trash, natural gas, propane, cable, etc…
4. I'LL Confirm repairs from due diligence repair list are completed and reinspected if necessary.
5. I'll make sure all funds are ready for transfer to attorney
6. Confirm loan details with mortgage broker.
7. Confirm and schedule walkthrough of property one day before or day of closing.
8. All closing costs should arrive 2-3 days before closing.
9. Buyer should have locksmith ready day of closing or afterwards to change locks.
CONGRATULATIONS YOU’VE CLOSED!
Working With Buyers
Not all real estate agents are created equal, there are discount agents who have very limited duties to the buyer and seller, they may not even live in or near our community so have limited knowledge of the neighborhoods and local changes affecting real estate. Discount brokers also give you little of their time as they need more and more clients to keep their income flowing.
-I am a full service agent here for you and in support of your real estate needs from the moment we meet, from introducing you to different "area's", recommending financing options, understanding property investment goals, finding properties that match your criteria then guiding you every step of the way from negotiations, inspections, repairs to closing.
-I strongly believe listening and being available to my buyers are initially the two most important qualities of a buyer and sellers agent.
-I like to sit down in person or schedule a call to best determine what buyers are looking for, this comes with strategic questioning and a lot of listening to you.
-Out of town buyers usually need more of my time since I'll be introducing them to all that Asheville and its surrounding areas have to offer, which is extensive and detailed.
-Most out of town buyers also need recommendations for medical services, dental, alternative health practitioners, education, outdoor activities, restaurants, country clubs, the list goes on.
-As an immersive member of the Asheville community I'm able to guide buyers in the direction that suits their needs and preferences.
-I'll explain thoroughly to buyers the process of Due Diligence which is very different in North Carolina compared to other states; this is one of the most misunderstood and misrepresented details of buying property in North Carolina.
-Negotiating an offer in this market takes considerable skill, care and diligence, my proven track record speaks for itself.
- Once in contract I recommend closing attorneys, home inspectors, land surveyors, pest inspectors, well/water, and radon specialists . Myself or an associate will be onsite during inspections to ascertain all the inspection details in person including any defects or problems that may need to be addressed.
-Once an inspection report is complete I will help you contact contractors and repair specialists to address any issues and offer quotes for remedies.
- Negotiating for repairs after an inspection.
-Staying regularly in touch with you, your closing attorney and your mortgage broker if obtaining a mortgage. I am working for you and with you every step of the way.
Working With Sellers
- I live here in this community so you can count on boots on the ground knowledge, someone to be here answering your questions quickly, someone who knows the ever shifting local and up to the moment market conditions.
- I am a listener, I listen to your needs and wants, evaluating your real estate goals.
- I create a Comparative Market Analysis that allows us to analyze your home, land, its features, the community, area amenities and price your property according to this information.
- I advise sellers through my years of design expertise on how best to prepare their property for photos, videos and showings.
- With my photographic and marketing expertise I'm able to work closely with my photographer and videographer to create modern visuals with up to date language that will appeal to what buyers are looking for in the current market.
- I market your property to all of the current online outlets including my large international and national sphere, accordingly I market Luxury properties with our in-house Premier Sothebys International Realty Luxury Property Marketing Specialist.
-I create wonderful Open Houses to the public advertising on all real estate online platforms and local newspapers, plus I hold Broker Open Houses for realtors only to introduce area agents to your property so they in turn can bring their qualified buyers.
-I am a seasoned negotiator, a seller does not want to leave money on the table, so negotiations are critical to the home selling process and only come from experience, knowledge, and know how.
- I am dedicated to being on the pulse of the ever changing real estate and financial market trends.