How can I manage risk and protect myself in the home buying process?
Like any investment, the purchase of real estate involves the potential for risk.
Each of us has our own tolerance for risk, and part of my job is to help you investigate and have a strategy to mitigate it.
Knowledge is power.
The State of Oregon legislates consumer protection for buyers and sellers of real estate, and the Oregon Association of Realtors supports this mission by providing a detailed real estate buyers advisory on their website.
The best thing you can do to inform yourself of potential risks and issues in buying your home is to study this buyer advisory information.
How does the buying process work?
How can I choose my Realtor?
Where can I search for homes?
How can I avoid paying too much?
Can I protect myself in the process?
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How does the buying process work?
How can I choose my Realtor?
Where can I search for homes?
How can I avoid paying too much?
Can I protect myself in the process?
How should you select the best Realtor to represent and guide you in buying your home?
The choice is yours, and here are some things to consider:
The typical real estate transaction is stressful for most people at some point in the process.
Buying your home and moving your life is a big deal. Challenges often appear.
So follow your head, and your heart. Get recommendations from friends and family. Ask how their experience went - especially the stressful parts. Read reviews and testimonials on real estate websites. Interview realtors and ask as many questions as you need to feel confident. Then select the person you trust—a professional who can demonstrate positive results helping people buy the right home, at a good value, with minimal stress and risk.
You deserve a trusted adviser who is present for you, acting professionaly on your behalf, and taking a personal interest in your success.
Because after all, your success is what the process is all about.
How to
buy your home.
Pride of ownership.
It's a real thing. It's part of the "American Dream". It feels good.
And like anything worth having, home ownership comes with risks and responsibilities.
The information on this page was written and compiled for people who I represent or are considering having me represent them in the purchase of residential real estate - a single family home, condo, or small multi-family property, in town, or in the country. It is based on best practices for buyer representation and fine tuned by my 10 years experience helping all kinds of people buy all kinds of properties.
Please click the links above or scroll the page to learn about the process and get an idea of how I work. If what you learn inspires confidence, please get in touch with me for more information. I'm here to help.
How does the home buying process work?
Here are the main steps in a typical home purchase process:
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Determine what you need and want in a realtor - your adviser and representative in the process. Interview as many as you need and select the agent you feel you can trust.
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Determine what you need and want in a mortgage professional, interview and select a loan officer you feel good about.
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Consult with mortgage broker and obtain funding pre-qualification letter. If purchasing with cash, have your banker or financial adviser prepare a proof of funds statement.
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Make a game plan with your realtor:
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Set criteria for home search: number of beds and baths, neighborhoods, etc.
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Describe the less tangible criteria, e.g. “what your home should feel like”.
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Learn the process for finding and buying your home efficiently, safely, and enjoyably.
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Review the "Agency Disclosure Pamphlet", provided by the State of Oregon to inform real estate buyers and sellers about the types of agency and your agents duties and responsibilities to you.
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Ask lots of questions along the way - your needs are at the center of the process.
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Review MLS and other available property search data, and re-define needs and search criteria as necessary.
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Select subject properties, request more information and schedule showings.
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Select home, develop offer strategy, write offer, negotiate agreements and open escrow.
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Deposit earnest money and make a formal loan application within 3 days of your offer being accepted.
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Order professional inspections, review seller disclosures and title documents, additional due diligence as needed for confidence in purchase.
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Negotiate repairs or remedies.
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After final review of all reports, release contingencies on purchase, sign at escrow, attend final walkthrough prior to recording.
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Take possession of your home and move in!
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Provide feedback and a testimonial for your agent. Consider referring them to your friends and family.
How can I avoid paying too much for my home? How much should I offer?
These are two of the most common questions I hear and there are two methods for getting the information you need to make a wise decision. 1. Math, 2. Gut feeling.
The math approach is something I do almost every day. It involves a process known as a CMA, short for "Comparative Market Analysis", or as I like to call it "Competitive Market Analysis". It involves searching for recently sold homes that are similar to the subject property (the home you are considering making an offer on). The search criteria usually involves location, style, floor plan, features, square footage, year of construction, and of course, price range. Once my search has returned a selection of homes I carefully review the data and photos. The results often include homes I viewed in person while they were available for sale. I select the homes that are the closest match to the subject property and then share a detailed report and and my informed opinion of value with you. Then it's your turn to ask me questions and if necessary we can refine the data and review a final analysis.
Data is analyzed and understood, but depending on current market conditions, supply and demand, and your particular needs, it often comes down to what feels right for you. Only you can decide the price that makes a particular home a good value.
How to
buy your home.
How can I select the best Realtor to represent and guide me in buying my home?
The choice is yours, and here are some things to consider:
The typical real estate transaction is stressful for most people at some point in the process.
Buying your home and moving your life is a big deal. Challenges often appear.
So follow your head, and your heart. Get recommendations from friends and family. Ask how their experience went - especially the stressful parts. Read reviews and testimonials on real estate websites. Interview realtors and ask as many questions as you need to feel confident. Then select the person you trust—a professional who can demonstrate positive results helping people buy the right home, at a good value, with minimal stress and risk.
You deserve a trusted adviser who is present for you, acting professionaly on your behalf, and taking a personal interest in your success.
Because after all, your success is what the process is all about.
What is the best way to find homes to look at?
I don't have a real estate search interface on this website. In my experience working with hundreds of home buyers over the past 10 years it seems most of them are looking everywhere. All the time.
I find that I provide the best value by listening carefully to your criteria and setting up a custom search for you directly on the Multiple Listing Service (MLS) website. This website provides hundreds of specific parameters and I can quickly adjust those parameters for you as needed. The MLS is swept for updates 24 hours a day and new listings and existing listings with price changes are emailed to you throughout the day.
But I don't suggest you stop there. Many other real estate listing portals exist, each with their own particular strengths and unique features. Many of my clients search the following sites and then ask me to research information that is not typically displayed on consumer portals:
Zillow
Redfin
Realtor.com
RMLS
So cast a wide net. Explore all your options and rely on me to fill in the blanks so you can choose the homes to put on your private tour.
