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School Notebook_edited_edited_edited_edi

Step 1

Get pre-approved

Rainbeaux Realty does not show houses unless there is a pre-approval or prequalification letter by reputable lender or proof of funds

By getting pre-approved you are letting yourself  know (now realistically) what you can afford and should look at.    It is also the  polite thing to do before going into private properties that are for sale.    Sellers put time and energy into making sure the house is ready to be seen.   Many times they have to leave the house so you can see it or take the pets out.     My guess is if it were the other way around you would only want serious committed buyers trapsing through your home too.  

Step 2

Fist Bump

Buyer's Agency Agreement

This is the agreement between you and I that spells out what kinds of properties you are looking for, how I am going to get paid, cancellation fees, and my responsibilities to you.

Sign Buyers Agency Agreement

You don't work for free and neither do I.   I do not like the percentage based system so lets talk about what will work for both of us with the goal to get you in a property that is just what you need/want.

While we are at it lets go over some of the most common forms will see during a transaction so we wont be signing just anything when the pressure is on.    We can do this paragraph by paragraph if you'd like.  We will go over the time frames in the contracts as well.  

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National Association Of REALTORS®

Effective August 17th  Written buyer agreements are required before a buyer tours a home for sale listed on the MLS.   (source NAR settlement FAQ dated 5/5/24)

Step  3

Finally the fun starts

Let's start looking at homes.   We will sit down and discuss needs vs wants as well as location limits and start our search from there.   We can adjust needs, wants and locations as we go.

Step 4

Offer

Once we found a house to make an offer on.   We will go over all the details and negotiation tactics to get an offer you're comfortable with  written up, signed and sent over to the listing agent.

Step 5

Accepted/Countered Offer/Rejection

Now you have a list of things you have to do with in a small window and we will go over each one again.  If rejected we keep on looking.

Step 6

Under Contract

It's a roller coaster but once we get our list of items done and we wait until closing,  Be very careful on what you purchase during this time.  Best to refrain from making any large purchases or doing anything that requires financing. 

Step 7

Closing

We made it to closing.  Your lender will do final checks and provide closing instructions to the title company.    This can be a rough day, the roller coaster is in full force.    So many things can still happen.    Be weary of any wire transfer scams especially 3-4 days before closing.    We will have a final walk through before you sit down at the title company and get a hand cramp from all the signing and initialing.    Do not wait until today to ask questions.   But by all means if you have questions on closing day ASK them! 

 Congrats you own a home!

Now time to move in.

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