Buyers

Check out my Buyers online movie clip @ http://www.exite-listings.com/movieclip.html/MLS/ChaundraJohnson/AID/825/AGENTID/6746

   I’ve spent the last year in Real Estate, learning a market that displays you have to “work your ass off” in order to make it. I wouldn’t have it any other way.  I thoroughly enjoy what I do and it’s incredibly fulfilling when you walk away from selling the dream home to your friends, not just your clients. It’s even more accomplishing when you know you’ve done the work and not just “sat back” and let it close. Even if I had to show over 50 houses to a few of my clients;  it’s satisfying when that couple jumps for joy at the end of escrow.  I wanted to show buyers just how simple the process should be as well as ease their mind of any concerns.

Buying Outline:

1. Preapproval through a lending institution. *unless of course you’ve been blessed with magical money* (I have a preferred mortgage broker i send all my clients to because he’s shown me that he will always give my clients the best deal possible)

2. Start you on an automatic list of homes within your search criteria that will be emailed directly to you. (You will be updated as soon as any new listing is saved to the Multiple Listing System. (Multiple Listing System: Where All agents list their houses))

3. Find your dream home (This can be a very long process, but i want you to find the perfect house!)

4. Decide you want to make an offer. (You and I will sit down and go over each part of the offer paperwork, i will work up a comparable for the area to see if you’re getting a good deal and i will then submit the offer, after i have your signatures.

5. Wait for acceptance. (Usually we give the seller a time frame of 3-5 days to get back to us with a counter, rejection or acceptance of our offer)

6. Open Escrow (Listing Agent will typically open escrow and then your earnest money check will be deposited into an escrow account)

7. Inspections (After the agreed upon offer, we hire a licensed inspector to give us the complete details of the house. Usually less then $300 and is out of pocket. You’re welcome to be there with the inspector to go over any questions you have, but a whole home inspection usually takes a few hours.)

8. Acceptance of Contingency (After the inspection report is emailed to us, we can negotiate repairs with the seller or just accept the inspection and do the repairs yourself after closing.)

9. Appraisal (Lending Institutions need to make sure that property they are lending against is worth the amount there are lending you. This process can take up to 2 weeks and it’s just a waiting period) *During this time you can pick out splotches of paint or have the carpets measured for new carpets if desired*

10. Appraisal contingency (If the appraisal comes back higher than the accepted price, then we’re on track. If not, then we will need to renegotiate a new sales price with the seller. The appraisal HAS to be higher or equal to the sales price)

11. Underwriting (After the appraisal, usually all your information is submitted to the banks underwriter. They will typically require updated bank statements, pay stubs, etc.)

12. Loan docs and signing (Loan docs will be ordered and delivered to the escrow company. Escrow will call me and set up a signing time.)

13. Closing (When the docs are completely signed by buyer and seller, recorded by the escrow agent and the loan is funded, we are then closed.)

14. Keys and celebrate =)

Some further questions:

Escrow=A company or entity holding documents and funds in a transfer of real property, acting for both parties pursuant to instructions.

Earnest money= A sum of money paid by a buyer at the time of writing an offer to indicate the intention and ability of the buyer to carry out the contract. Normally such earnest money is applied against the purchase price.

     If you have questions, please don’t hesitate to contact me at all! Thanks and I look forward to working with you in the near future!                       

                              Cheers, Chaundra Johnson          cjrealestate@johnsonliving.net

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