Whether you are buying a home for the first time or hundredth , there are critical things you need to know about the purchasing process. When you work with Daane Properties, you’ll have a trusted real estate advisor on your side. We’ll help you understand the entire process and ensure a smooth closing. Our goal is to make sure that your home buying experience is as stress-free as possible.
the FOLLOWING ARE steps to buying a home, WHETHER AS A PRIMARY OR INVESTMENT PROPERTY:
1. Initial Advising Meeting
Having realistic expectations about the current real estate market, what you can afford, and your timeline to close are critical to your success. We’ll start with an initial consultation, where we will learn about your property needs and break down what the entire process will look like. We’ll understand your timeframe, budget and if you need to sell a current property before purchasing, we will advise on the best approaches to do so. At the end of our initial consultation, we’ll have a realistic plan for moving forward and ensure a mutually satisfying outcome.
2. Determining Your Wants + Needs
Your needs are the things you absolutely cannot live without – you won’t even look at a property unless it has every single one of them. Your wants are the things you’d really like, but can live without. Once we fully understand what you are looking for, we’ll talk about the right Naples neighborhoods for you to consider and the average home prices in these communities.
3. Financing + Budget
If you’ll need a loan to aid you in the purchase of your home, we can help connect you to a trusted lender or mortgage broker – we have partnered with many excellent lenders in the past, and we can find the right one for your needs. We can also introduce you to tax and financial professionals who can help you understand the benefits and ramifications of your prospective purchase.
4. Finding The Perfect Home
We always keep current with the Naples real estate market, so we often know about new properties before they are announced on the MLS. We understand that your time is valuable, so we will do all of the legwork for you. We will only tour properties that match your needs.
5. Making An Offer
You’ve found the perfect home and want to put in an offer. We’ll review comparable sales and discuss appropriate offer strategies. If the home you desire is not fairly priced for the current market, we will be 100% honest with you. If you decide to make an offer, we’ll review and sign all available paperwork and prepare a detailed offer package. We will present the offer package and purchase contract in person. Then, we will help you negotiate the best possible price for your new home!
6. Managing The Purchase
We will manage all of the details necessary for escrow, to meet your lender’s requirements and for the listing agent, including: setting up an escrow account to pay your property taxes and insurance premiums, ordering the preliminary title report from the title company, submitting the purchase contract to the lender for processing, and ensuring the lender has scheduled an appraisal so that we can receive financing approval.
7. Inspections
We will work with you to set up all of the necessary home inspections: property, pest, roof, etc. We will review the seller’s disclosures and the homeowner’s association documents, if any. If new critical issues are discovered during the inspections, we will help you negotiate the necessary repairs or renegotiate the sales price.
After we have completed the property inspections and have confirmation of the loan document approval, contingencies will be removed.
8. Closing
We will do a final walkthrough of the home together to confirm its condition and the completion of any requested repairs. We will review your closing and transaction costs. You will need to sign the loan documents, and provide a cashier’s check or send a wire for the down payment and closing costs. The lender will send the balance of the funding to the title company. We will ensure that the title company representative records the deed at the county recorder’s office.
You will receive a copy of the HUD/Settlement statement – you’ll need it next year when you prepare your taxes.
9. Congratulations! You’ll receive the keys to your new home!
10. Moving In
We can help you with any of the details of your move and settling in. We have a large network of trusted experts we can bring in, including: movers, home designers, remodelers, electricians, etc.
You will want to set up all of the necessary utilities: electricity, water, garbage, phone, Internet, alarm, etc. You may need to contact the HOA office as well. You’ll need to change all the locks on your doors and update the security system. We can provide phone numbers and contact information, wherever needed.