• A new home
    Real Estate in Kansas,  Real Estate in Missouri

    The Steps to Buying a Home

    The Buying Process.

             

    • Start looking for a Home 

     Often this begins on line looking through sites like :

                                                Trulia

                                                Zillow

                                                Realtor.com

     Or A local Real Estate company website like ours at :

     ( click on the red wording)  Wingman Real Estate Associates KW Partners Inc

     Shortly after you start this process your phone is likely to start ringing with offers from agents wanting to act for you.

    • It’s now time to Engage a Licensed Realtor to represent your interests.

     Currently it is a very wise decision to select your own licensed agent to represent you with your home purchase. 

     The Selected Agent will want to have a Signed Buyers Agency Agreement with you, this doesn’t usually involve you in any costs at this stage.

    • Establish financing method

     Your new agent will begin by discussing finances with you. They will help you understand the many and  varied options available to you.

      Then they will suggest you contact a mortgage specialist who will work with you to select the best option for you.

    • Selecting a Property

     Your agent will then start looking at the properties that interested you on the various web based sites – it is possible that some of these properties are no longer available.

     The agent through his MLS site will be able to check.

     They will also be able to complete a thorough search for properties that meet your criteria.

    • Visiting Properties

     Now comes the fun, visiting and comparing properties, some people know immediately what they are looking for.

     Others want to visit a number of properties and yet more have a hard time making up their minds.

     Keep looking until you find what you are really looking for.

     I’ve found a helpful aid is a check sheet for each property.

     I find having a sheet for each property we visit. It has a few items listed:

     

    • Style of Home
    • Location, area of city, school district etc
    • Aspect – often overlooked – is the home North/South/East/West facing..
    • Number of Bedrooms
    • Number of Living Rooms  
    • Condition of Surroundings is the property nicely landscaped
    • Bathrooms
    • Toilets
    • Basement is the basement dry and finished
    • Garages for how many cars
    • Off street parking

            Closeness to

    • Schools  
    • Shops
    • Airport
    • Transport         
    • Libraries
    • Hospitals    
    •    
    • An area to write notes on each room etc.,
    • Number of power outlets
    • Is painting required
    • Condition of floor or carpets
    • Window types and styles etc.,

    The idea is to enable you to remember what you saw and compare as you evaluate the most appropriate property for your needs.

    It helps with the pictures you may take with your phone.

    They will also help with your own gut feeling for value.

    The next part can become stressful.

        Making an Offer.

    This is where your agent really starts to become important. 

    Remember if you have signed an exclusive buyers agency agreement your agent has a fiduciary duty to represent you.

    The seller by virtue of having an agent listing his property has someone representing him.

    By now the number of forms has been steadily building.

    Once you make an offer you will see a regular deluge of paper – well perhaps not if you use ‘Dotloop’ to process your forms.

    It is important though to spend sometime reading each document.

    I will go over each in detail with you as well. -do  ask for clarification if you are not sure why you are being asked to sign something.

    • Accepting an Offer.

    • Once an offer has been accepted in writing ( often through dotloop or a similar electronic system) you will have set time limits on a number of important activities.
    • Inspections these are important activities to help protect you.
    • The first is a Property inspection often added is a Termite inspection
    • Next comes optional inspections or surveys for Radon, Septic if needed, Structural,
    • There is a strict time limit to completing these, reviewing them with your agent, then requesting repairs from the seller.
    • Earnest money deposit – usually required at the sellers title company within a few business days – I like to personally deliver the deposit to the sellers title company.
    •  

     

    The Selling Process 

    Styles of Homes

     

    Establish Property Value

    This is helped by looking at local recently sold, similar properties – Comps – which assist in deciding a listing figure to ask for.

    Decide on Selling Method

    Start Selling Property

    Usually there is a need to declutter a home, make a few minor repairs, tidy the garden. Then perform a deep clean of the whole house.

    Finding a Buyer

    Today finding a buyer is much easier, although recent interest rate changes have started to slow the process.

    List of things to do before you move.

    I have a moving list of to do’s that I share with my clients.

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    • Real Estate,  Real Estate in Kansas,  Real Estate in Missouri

      Looking to own your first home?

      Buying your first home is one of those life changing moments.  

       .. Just want to know what properties are currently available ?   

       Call or text me at 816 813 0729 I’m here to help you.

      My own experience of buying our first home was probably no different to many.

      I left school, at the age of 18, worked for an Estate Agency in Reading. It was quite a large firm with six locations and five partners (owners). There was no way I could afford to buy anything on my starting salary, which was 1 guinea a week !

      It wasn’t until after I went to college for four years, obtained my second job that I could afford to buy. My girlfriend (later my first wife) and I rented a two bedroom apartment in Croydon, Surrey. Our rent was a whopping $200 a month in 1975.

      About six months after renting we happened to walk past an Wates estate agents in Crystal Palace. In the window was a superb luxury one bedroom flat in a block of twelve, complete with parking, a garage and an outside storage room, inside each apartment there was a drying cupboard, and even a bidet in the bathroom. It was for sale at $18000.

      We went in and spoke to the agent, who explained these luxury flats were few and far between. We soon discovered we could purchase it with our joint incomes, and a 10% deposit. In fact our monthly expenses went down by $30, and we collected tax relief on the payments another $30 saving. We also were able to purchase a with profits life insurance policy that would pay out at the end of our mortgage ( it did very well ). Today such policies have not been so good.

      The other thing we were able to do was to create a fully transferable mortgage, which meant that as we moved so the mortgage moved with us and all we needed to do was take out an additional top up one to cover any price difference.  This saved quite a lot of money.

      We decided to purchase the apartment, it was on a 125 year lease, with a $50 ground rent and a very low maintenance upkeep fee.

      We moved after two years, the very first person to view bought, and we made $24000 profit.  So after agents fees, solicitor fees, moving expenses our two-year stay resulted in a substantial profit. Our next house had a mortgage that was much lower percentage wise than this our first purchase.

      We learned a very valuable lesson, thanks to the agent the first rule of buying is :-

      Location, Location, Location.

      He did add that we should develop a wish list. It’s something I have always recommended the thousands of clients I have worked for over the years.

      • if you would like a wish list template just send me an email   chris@chriscoope.com seems there is no right way to create a list, although I might suggest that each couple produce their own ‘first list’.

      Another helpful aid is to develop a box to store newspaper clippings, magazines pictures, computer print outs of all the things you would like to include in your home. It’s surprising how many things will be saved, some may be color schemes, others more practical like bedroom sizes. Of course your final list will usually be a compromise gleaned from both of your final lists.

      • if you would like me to see what’s currently available in Missouri or Kansas and you haven’t signed  a contract with another licensed agent give me a call on 816 813 0729
      • I work in the Wingman Real Estate team at
      • KW Partners Inc  6850 College Blvd, Overland Park, Ks 913 906 5400

         

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