Saint Clair Homes

Whenever buying real estate you have the option of having an inspection done on the piece of property that you wish to purchase. Even though this is an option that you will have to pay for; it is strongly recommended. Inspectors can spot things that we as “laymen” cannot. The purpose of an inspection is twofold. First: it is to alert you to any “problems” that may exist or potential problems and therefore, there won’t be any surprises once you move in.

Negotiations

Very seldom will an initial contract be accepted by the sellers. There is almost always something that they like and don't like about your offer. The purpose of negotiation is to establish a contract that is acceptable to both parties. If it isn't, there will most certainly be problems later. The following is a list of things to keep in mind while we negotiate back and forth with the sellers:

• Never accept ANY proposal immediately, no matter how good it may sound!

This is the document that is used throughout the negotiation process. Every time there is a change made during the negotiations, it is recorded on the contract and signed by both parties (buyers and sellers). Most negotiations are fairly easy going; however there are some exceptions, ex: inspections, FSBO's, etc... Once an agreement, that is acceptable to both parties, is negotiated a copy will be given to those involved. See:
http://www.realestateabc.com/homeguide/buying8.htm

This step is the most fun but, also the most important. Once you’ve decided where you want to live, now you get to pick out the actual houses you like. To tour/view the homes that interest you, appointments need to be made.

When actually touring the homes, this is when you want to take a good look at the features within the home that are important to you. Most appointments will be made so that the present owners will not be there, so be honest about your feelings and concerns.

Now that you have your financing is squared away, it’s time to start actually looking for a home. There are many different ways to go about this process. There is no right or wrong way; it’s what works best for YOU.

Securing your financing is a very important step towards your real estate purchase. Timing can mean buying the home that you really want or losing it to someone who already has their financing in order. Also, knowing how much you can spend on home, can save you a lot of time and disappointment. Looking at homes that are within your financial means, only makes sense. This way when you find a home that you like, you know you can make a reasonable offer.

First of all, you want to establish your goals concerning real estate. Most importantly what are your needs? The process of purchasing real estate involves some timing issues, ex: When do you want buy?, When do you apply for financing?, When do you lock in your financing?

Other things to consider are some of the more obvious decisions, like: Where do you want to live?, What type of house do you want?, How big of a house do you want?, Bedrooms?, Bathrooms?, etc…

Property taxes are usually handled during escrow. There are instructions provided as to how they will be handled. If they are handled during escrow they will show up on the closing statement as a credit or a debit. If for some reason they are being addressed at escrow, it is the buyers obligation to obtain a tax statement and pay as necessary. Buyers are also responsible for the Supplemental Property Taxes. To learn more about Escrow and Property Taxes: What About Property Taxes?

When entering into escrow, you aren’t planning on a cancellation. However, it can happen. If there is a cancellation, Escrow companies will hold onto any monies until there is a mutual cancellation by both parties involved. If for some reason the parties cannot mutually agree, the Escrow company may have to have the court decide. Most likely there will also be a cancellation fee charged by the escrow company for services provided up until the cancellation occurred.

This is a debit/credit/balance sheet of all of the funds related to your real estate transaction. You should go over this and if there is anything that you do not understand or is in question, have your escrow officer explain it to you.