BUYER INFORMATION
Buying a home is an exciting time, whether you’re entering the market for the first time or searching for a dream property where you can retire. The Hinds Team are experts on Seattle’s many neighborhoods, and can help you keep the search focused and productive.
SCHEDULE A MEETING
The Hinds Team will schedule a meeting with you to go over the home buying process.
In this meeting, they will go over the following:
○ Review a sample offer
○ Review Buyer Agency Agreement
○ Ideal timeline to buy
○ Financing
○ Answer questions
They will also discuss what you are looking for in your perfect home. Consider some of the questions below as you start your search.
○ What neighborhood do you want to live in?
○ How many bedrooms and bathrooms do I need?
○ What features would be nice to have (a fireplace, modern kitchen, big yard, etc.) that I could possibly live without?
○ What kind of commute will I have to work?
DEFINE YOUR BUDGET
Next, outline your budget for your new home.
If obtaining financing, the Hinds Team will recommend trusted local lenders for you to consult. Make sure you get pre-approved for a loan, as this will make you a more qualified buyer down the line when you’re ready to make an offer.
HOUSE HUNTING
Now comes the fun part! It’s time to begin your search. The Hinds Team will begin to schedule private tours at homes you’d like to see. Here are some of the ways the Hinds Team will help you search for a home.
○ The Northwest Multiple Listing Service (NWMLS)
○ Reaching out to their colleagues and other trusted real estate agents they’ve built connections with over the past 41+ years for any off-market opportunities.
○ Previewing homes in your desired neighborhoods.
Remember, there’s no right or wrong number of listings to visit before making an offer on a home. You don’t have to rush this part!
MAKE AN OFFER
In our competitive market, it’s possible that you’ll have to put in offers on a few home before you find the right one.
The Hinds Team will work with you to decide the best approach, based on your finances, competition, neighborhood and unique positioning of the listing you’re bidding on. With that in mind, here are some elements of the offer process to consider.
○ Initial offer amount (are you offering above the asking price?)
○ Earnest money
○ Escalator clause
○ Closing date
○ Contingencies
○ Pre-approval letter from your mortgage lender
GOING UNDER CONTACT
If your offer is accepted, the Hinds Team will do their due diligence to ensure the terms of the sale are executed. They will create a timeline of important dates to keep in mind during the transaction period.
Examples of next steps include:
○ Deposit your earnest money into escrow
○ If obtaining financing, the Hinds Team will send the mutual contract to your lender so they can get started on your file and order the appraisal.
○ Execute any contingencies (inspection, appraisal, title, etc.)
○ Any further negotiations between the buyer and seller
INSPECTION AND NEGOTIATION
Your interests will be represented and protected as the Hinds Team works out any contingencies with the seller’s broker.
○ Broker Presence at Inspection
○ Vendor Bids and Project Valuation
○ Negotiation with Selling Broker
○ Scheduling Repairs and Walkthrough
HOME APPRAISAL
Your lender will order an appraisal at the home. A home appraisal is a professional assessment of the value of a residential property. It is typically conducted by a certified appraiser who specializes in determining the fair market value of real estate. The primary purpose of a home appraisal is to provide an unbiased and expert opinion on how much a property is worth.
FINAL WALKTHROUGH
Three to five days prior to closing day, the Hinds Team will perform a final walkthrough of the home to make sure all agreed upon repairs are completed and that the home is in the same condition as it was when the original offer was made. This serves as the last chance to highlight any issues discovered with the property before the closing.
CLOSING
You won’t have to worry too much about the details, as the Hinds Team will shift into project management mode to make sure all the paperwork is completed on time.
○ After documents are signed and the sale is recorded with the county, the house is yours!