Buying

Information for Buyers

Bradley Real Estate buyers come from near and far. They are your friends with growing families that need a bigger home, or your older neighbors that need to down-size so there is not so much to take care of.

Bradley Real Estate buyers move across the county, state and country to relocate to our beautiful area. Buyers purchase more homes here because of job changes, city attractions, child rearing, or just to fulfill their dreams of returning to the place they once called home.

Bradley Real Estate agents are trained experts in their field. They know how to steer you in the right direction with each and every move. We pride ourselves on quality customer service, first-hand industry education and more sold homes than the local competition.

Let's begin the home buying process so that you can understand how easy and hassle-free Bradley Real Estate agents make it for you, our valued client.

#2 Finding a Real Estate Agent

Before you choose a real estate agent, it is important to do your homework on the real estate companies in your area.

1. Search the Internet for local real estate companies.
2. Review local publications for agent advertisements.
3. Call each company to compare commission fees, marketing campaigns and yearly sales volume.
4. Talk to your friends and neighbors. 9 times out of 10, someone you know has sold their home and can provide a credible recommendation to point you in the right direction.

When choosing a real estate agent, do not be afraid to meet with many different agents. They are, after all, competing for your business. This competition is what makes the real estate industry successful.

#3 Starting the Loan Process

It is important as a buyer that you establish some kind of financing before you make any serious home offer. The "pre-approval" process allows lenders to take a look at your finances and credit history in order to make a general assumption about your loan amount.

The pre-approval process is when a lender looks at all of your finances and determines the amount of money you could afford for a mortgage.

In order to get pre-approved for a loan, you need to contact a lender. Your Bradley Real Estate agent can help you help you find a lender that you feel comfortable with, and that offers programs best-suited to your needs.

#5 Finding Your New Home

Beginning the search for your new home can be a great feeling. It is important that you directly communicate what you desires in a home are to your real estate agent.

You may want to first begin by making a list of the features and benefits that are most important in your pursuit of finding a home. These could be:

• Location
• Affordability
• Size
• Style
• Design
• Amenities

Looking for a home in an area where you feel comfortable is key. If appropriate, instruct your real estate agent to look for homes in the specific areas you have designated.

#7 Financing

Doing you homework about loans will save you both time and money. There are thousands of loans out there to choose from, but it is important to keep in mind several key factors that will help you along the way:

• How much money should I put down?
• How is my credit?
• Is this my first home?

Receiving a loan requires completion of a loan application and specific financial documents including pay stubs, rental checks and/or tax returns. You can receive a loan from a number of different financial institutions, namely: commercial banks, credit unions, mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks and insurance companies.

#9 Closing Procedures

The closing process is always changing. It is even referred to as "settlement" or "escrow" in different parts of the country. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.

Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).

The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes, and any additional closing costs. All legal papers are filed with the local record office.

It is this step where the buyers and sellers do very little. It is important as the seller to take a final walk through the property to make sure the property's condition as not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.