Want to know more? Contact Leonard Rosen

VISUALIZE YOUR DREAM HOME
The best way to save time and energy is to write down everything you are looking for in a new home. Let your imagination go. Then, call me to discuss your goals.

PRIORITIZE YOUR NEEDS
After you create your "wish list," prioritize each item. Picture your family's everyday activities and habits. This will give you a clearer picture of the home that best suits your needs.

PUT THE PIECES TOGETHER
Analyze the locations you are considering. I can provide information on school systems, taxes, shopping centres, and cultural activities.

PRE-QUALIFY
To save yourself time and possible disappointment, contact a mortgage loan officer to pre-qualify your buying power. Find out your mortgage limit and your down payment requirements.

PRE-APPROVAL
Your mortgage loan officer can pre-approve your mortgage before you start house hunting. A pre-approval is a guarantee that you can qualify for financing to a maximum purchase price and loan amount.

START SHOPPING
Now it is time to start viewing homes with me. Make notes as you tour each property, because your memory can be unreliable after you have seen several homes in a short period of time.

DETERMINING THE PURCHASE PRICE
How much to pay for a home is inevitably the big question on all buyers’ minds. The answer depends on a myriad of factors, which singly or combined, affect market pricing. Some of these factors include:

• Current Local Competition
• Supply
• Depreciation
• Political Climate
• Changing Demand
• Inflation
• Consumer Confidence
• Employment Market
• Changing Tastes
• Most Recent Sales
• Mortgage Rates
• Cost Replacement Factor

I find that conducting a Comparative Market Analysis of a property eliminates much of the guesswork involved in establishing a fair market value and purchase price. Through an analysis of similar properties recently sold in the area, I determine the most viable price range that you should pay for any given property. I provide this service at no charge or obligation, because I understand your need to have qualified information to make your decision.

MAKING AN OFFER
Once you have found the home that is right for you, it is time to write a “Promise to Purchase.” Writing the offer is an exciting, emotional, and complicated experience. You will be glad you have an experienced sales associate at your side to help you through the process.

I will draft the offer and deliver it to the listing associate (who meets with the seller of the home). They will discuss the offer, and the seller will either accept it as written, make a counter offer, or reject it. The Promise to Purchase becomes a contract only when accepted copies have been signed and delivered to all parties.

MAKING A DEPOSIT
When you submit an offer, be prepared to make a deposit to indicate that you are serious about your offer. When the sale goes through, your deposit will be applied to the purchase price.

ORDERING A HOME INSPECTION
A professional home inspection is an essential step in the home buying process. Home inspectors see beyond the "cosmetics" and survey all parts of the house, including the structure, roof, exterior and major systems (electrical, plumbing, heating, cooling, and ventilation).

Your Promise to Purchase should include a clause stating that the sale is contingent upon a home inspection. This contingency is meant to protect you against major structural flaws, but not the everyday "wear-and-tear" of a home.

APPLYING FOR A HOME LOAN
When you apply for your loan, your lender will give you a good faith estimate of your closing costs. This document estimates the amount of money you need for closing. The lender will also order an appraisal of the property to confirm it is adequate security for your mortgage.

After the lender has verified the information, reviewed your credit history, and analyzed the appraisal, a commitment letter will be prepared. This document is a promise from the lender to give you a loan.

CLOSING DAY
Today, you become a homeowner.
Remember that my service continues right through the closing day when you will settle the financial details, convey the title to your home, and receive the keys to your new home.

Want to know more? Contact Leonard Rosen