BUYERS: I will guide you throughout the home buying process with honesty. I will respect your budget and listen carefully to what your needs are. I work diligently to find the home that is perfect for you. I will Negotiate the best possible price and terms. I keep a close eye on the market on a daily basis for my buyers to help identify the best opportunities.
7 Reasons to Own A Home
- Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
- Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
- Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
- Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
- Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
- Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
- Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.
Choosing Lana Henriques a Coldwell Banker agent, you will have a professionally trained, experienced agent to offer you agency representation options and full service.
A pre-approval is not a final loan commitment, the pre-approval letter will demonstrate your financial strength and ability to go through with the purchase when you are ready to make an offer on a home.
I can provide detailed information on almost any property currently listed for sale. This includes Coldwell Banker listings as well as all other real estate broker listings on the Multiple Listing Service (MLS). I can also provide information on homes that you see advertised for sale in the newspaper or online, such as properties that are advertised “For Sale by Owner.” Your Coldwell Banker agent is the only resource you’ll need. I also have plenty of advice to help you choose the right home and the right neighborhood.
During this initial phase, you may also wish to begin the process of selecting a local real estate attorney to represent you once you have an accepted offer on a home. If needed, I can provide you with a list of local attorneys that specialize in real estate.
Making an Offer on a Home
Once you’ve found a home you’re interested in buying, then I will prepare all paperwork for your review and signature to make an offer. Typically, you will provide the following information to relay to the seller or their representative:
The amount you are willing to pay
Closing and occupancy dates
Personal property included or excluded (appliances, lighting fixtures, etc.)
Contingencies, such as obtaining a mortgage, building inspections and pest inspections, including (where appropriate): termite, pest, radon, water quality, well, lead, septic, oil tank, etc.
If the offer is not acceptable to the seller, further negotiations may be necessary to reach terms that are agreeable to both buyer and seller. Counter-offers are common, so it is important that you remain in close contact, during the negotiation process to quickly review and respond to proposed changes. Your Offer Has Been Accepted!
The contract writing procedure, required down payments, building inspection contingency dates, etc. vary between regions. Timing is critical!
Between Contract and Closing
There are a number of details to see to at this stage, and Coldwell Banker is here to help. Our exclusive Concierge Program is designed to assist you with the services you need before, during and after your move. From moving companies and new community information to home improvement services, we’re here every step of the way.
What to Expect at the Closing
Closing is a formal process where all parties sign the necessary paperwork to complete the transaction and transfer the property’s title from the seller to you. The seller receives payment for the home, and you receive the house keys! From the amount credited to the seller, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers and other documents are prepared, signed, and ultimately filed with local property record office.