LET US ASSIST YOU IN MAKING AN INTELLIGENT AND
INFORMED BUYING DECISION
Chances are this will be the most significant investment in your life. We will prepare you and help to make it less stressful and less overwhelming by following this plan. |
FIRST MEETING
We must first discuss your overall objectives in purchasing a new home. What do you want in your new home? What is your time frame? What about neighborhoods, number of bedrooms, garage parking…..then we can start to search. |
LENDER APPROVAL LETTER
In order to write a contract, you must have lender approval. It also makes sense to know what price range you can comfortable afford. The lender will review your income, asset and credit information and then provide a pre-approval letter. You can visit as many lenders as you like (credit reports within a 30 day period will not affect your credit) we have many lenders we work with and will be happy to assist you in this process. |
SEARCHES
We will begin by searching the MLS for properties that fit your criteria based on our discussion. We will set up an automatic e-mail to you that will keep you up to date on what is on the market and what comes on the market every day. This listing will give you property details and photos or tours. |
TOURING
Once we have looked at the properties that are of interest on the internet, we will schedule a time to tour these homes. We will try to visit as many homes as possible before our tour to determine if the properties should be ruled out or added to our list. |
WRITING A CONTRACT
We will decide on the price you would like to offer and the contingencies you
want to write into the contract. The components of an offer are:
• The price you are offering
• The date you would like to settle |
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| • The earnest money deposit (typically 2-5% of the offered |
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price held in escrow with
the selling broker or title company) |
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• Financing Contingencies ( 7-12 business days)
• Appraisal Contingency ( 7- 12 business days)
• Inspection Contingency (3-5 business days). Buyer generally pays.
• Other Contingencies (sale of current residence, gift letter, etc.)
• Choice of Settlement Company ( buyer selects) |
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The Seller then has the option of accepting, rejecting or countering your offer. As
an experienced Realtor, we am aware of home values and the market that will help influence the sale and will negotiate objectively on your behalf
Once an offer is accepted it is delivered to all parties and once it has been delivered with initials and signatures it is considered “ratified”. |
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REMOVING THE CONTINGENCIES
We will assist you in setting up and attend the home inspection*. We will look for items that do not work or have major defects that need to be addressed with the Seller. They will either do the work or may offer a closing credit.
Review the Condo docs or Homeowner Assoc. docs. You have 3 days to review
re-sales and 15 days for new developments.
As soon as the contract is ratified you will contact your lender* to begin the full loan application process and they will order an appraisal immediately.
You have 7 days to apply for home owners insurance*. There is no cost in applying.
Arrange to connect all utilities* *and hire a moving company*.
* Long and Foster has many partners in these business’s that we recommend.
** Long and Foster Home Service Connections (www.longandfoster.com) can
help you do this online. |
CLOSING ON YOUR NEW HOME
From 5 days prior up until the day of closing we will conduct a walk through of the property.
We will review the HUD-1 prior to closing (many times the HUD is not available until just a few hours before closing.) This will let you know how much money you need to bring to the closing. |
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| Jayne Ehrens |
telephone
202.364.5200 |
mobile
240.401.7025 |
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| Emily Ehrens |
telephone
202.364.5200 |
mobile
202-380-8125 |
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