What do I need prior to buying?
There are many advantages in being represented by a buyer’s agent or selling agent.
By being an agent, we are members of the Northwest Multiple Listing Association. This gives us access to information on all the properties offered for sale in the Puget Sound area. We will ensure that you are shown any homes that match the criteria you are looking for without regards of who the listing agent or brokers.
Lemuria Property Mgmt. and Sales Agents have experience and knowledge of the market and area you have an interest in and have a good grasp of the properties and their values and demands.
We know the best sources and marketing means to find the property that will fit your needs.
We are good negotiators and have a good idea on when and how to reach a satisfactory agreement. We will give you our best advice to accomplish this goal.
We will make sure that you are happy at the end of the process and that the home you have decided to purchase meets your requirements 100%, or at least that is our objective.
Getting Pre-approved to purchase a home is a requirement every buyer needs to look into prior to making an offer. Why is it important?
Having an offer with an actual pre-approval letter could mean that the buyer is not real serious about buying the home.
The seller may get the impression that the buyer does not really have the resources yet to purchase a home, which will make the transaction unreliable.
We can recommend a mortgage loan officer or assist you in locating one so you are ready when finding the ideal home! This also saves you the time and effort of looking at homes outside of your price range.
Why Pre-approved? Is Pre-qualified good enough?. Pre-Approval is an actual mortgage loan approval based upon your credit report, income and assets. A Pre-Qualification is an educated estimate of what you would qualify for based upon non-verified information supplied by you.
What to expect when buying?
Once you have searched for that home or property you’d like to invest in, you need to get familiar with that buying process that is ahead of you!
Here are some of the steps you will more than likely go through with every transaction to finalize the purchase of your home:
You have an agreement drafted by us which will be a legal contract once all parties have accepted its terms. There is no agreement until everyone is in acceptance of the different clauses. You may have to go through several negotiation points to finally reach an agreement.
A counter offer is an offer that is amended without reaching an agreement. Once a counteroffer is accepted, it becomes a Purchase and Sale Agreement. We will smoothly take you through this step to reach the best deal possible.
Purchase and Sale Agreement :
The Agreement should have as many clauses as necessary to assure you that in any unforeseen eventuality, your rights are protected. We have assisted many clients in purchasing properties and have not experienced any negative results by neglecting to present a complete offer that will culminate in a successful purchase.
An important part of the purchase process is a thorough inspection of the property. It is strongly recommended by us to hire an inspector, who is an independent and licensed individual who will give you the best opinion of the current quality and condition of the home. With an inspection you can have peace of mind that your property has been analyzed and searched for any defects or repairs that are not evident in a walk-through. We can help you find or recommend highly qualified inspectors in the area.
Title Insurance :
You'll receive a full report detailing the property history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.
An Escrow agent is chosen by mutual agreement of buyer and seller upon signing the offer to be the independent intermediary that will oversee the closing process. The escrow agent will assure that all parties adhere to the Purchase and Sale Agreement clauses. Escrow will receive the funds from buyer and make the final payment to seller once the agreement has been executed on closing date.
The closing agent will prepare the necessary legal documents, including the deed, and call you for an appointment to sign your closing papers. You will receive a HUD statement prior to closing which details all expenses and credits for each buyer and seller. You will know if you need to bring any cashier’s check at closing or if you will receive a final credit. Once you have signed your closing papers, deposited your funds and the deed is recorded in your name, we will have the satisfaction to present you with the keys to your new home!