The Buying Process

Critical Planning for Home Buyers

Buying a home is often the largest investment most people will make in a lifetime. The benefits you and your family can realize from home ownership in Silicon Valley can be tremendous. Home ownership, entered into correctly can offer significant financial benefits as well as offering many priceless benefits like security, community and family unity.

The home buying process entered into incorrectly can be confusing, frustrating and fraught with risk and disappointment.

How does one avoid the risks and reap the tremendous benefits home ownership offers? You start by working with an experienced local, real estate advisor that you can trust.

I believe in long term planning and long term relationships. I take the time to educate and prepare my clients on the processes and the strategies necessary to locate the perfect home, negotiate the best price and terms possible and navigate the home buying process to your advantage.

I like to work directly with my clients in all aspects of the home purchasing process. Unlike some others in the real estate industry, I do not hand you off to someone on their “team” to help you with the most important decision in your lifetime. I am highly experienced and dedicated to making your home buying process successful and enjoyable.

I am Colleen Rose and I would be honored to be your advisor and be by your side to guide you every step of the way to home ownership.

Getting to Know Each Other

I will meet with you personally to talk about your dreams, goals and requirements of home ownership. Every buyer is different and it is very important to me to understand everything I can about you;

- Where you want to live?
- Where you work?
- What you do on your free time?
- What amount are you comfortable spending?
- What are your long term and short term real estate goals?

It is through my getting to know you meeting that I will be able to find you the perfect home. During this meeting we will also discuss timeframes involved, getting pre-approved by a lender, how long it takes to find a home and once in contract, how long it takes to close escrow. This information will help us create your “Home Ownership Plan”, based on your specific needs and timeline that we will follow through the process.

Getting Pre-Approved

Pre-Approval is a very important early stage step. This step will identify and document the amount a lender will qualify you to borrow. In the past several years, the loan approval process has gotten more cumbersome and complex, requiring a significant amount of documentation. I am very experienced in this area and will walk you through this process so that you understand everything as you move forward. I can also provide you with referrals to trusted and experienced lenders that I have worked with for many years.

Starting the Search

Once we have received Pre-Approval from the lender, the search process can begin.

Based on your requirements that we have discussed, I will create a custom filtered and vetted search for you to review. You will receive a list of available properties via email as soon as they hit the market. I also have an extensive network of industry contacts and often know about properties before they go on the market. Think of this as behind the scenes information that will give you an edge over everyone else. Then the fun begins!

I prefer to show you the properties myself instead of you going out on your own. This way as we walk through the properties and discuss them, I can point out the positives and potential negatives and listen to your feedback and comments. It is by this communicative relationship that I can best advise you.

Making the Best Decision

Once you have identified a short list of properties, I will help you evaluate them in a step by step process so that you make the best decision possible. These steps include but are not limited to:

- Review the plan we developed in our first meeting to make sure the property meets your stated requirements.
- Understanding the condition and details of the property by reviewing any available disclosures and reports. If there are repair items needed or updating that is necessary, you want to make sure the price is reflective of those items.
- Reviewing and analyzing comparable sold properties in the neighborhood with you so you can better understand the value of the property and the best price to offer.
- Prepare and review an estimated buyer's net sheet. This will allow you to see what the closing costs would be for that specific property. I do this to make sure you are comfortable with the numbers and are not surprised come close of escrow.

Making an Offer

This is where my experience and expertise is invaluable to you. Our current market is very competitive for buyers and most properties receive multiple offers. For you to be successful and be the winning offer you have to stand out. To stand out can be a variety of things depending on the property and the seller. I will make sure that I get all the necessary information about the property and what the seller is looking for so that I can work with you and strategize about the best plan to help you win.

I have closed hundreds of transactions and know what it takes to make a winning offer. I have also seen hundreds of disappointed buyers that were not advised correctly and did not even know why they lost out. I will not let that happen to you.

Once Your Offer is Accepted

Congratulations! You are now in contract! What happens next? Remember I will be by your side every step of the way.

- A typical transaction will take about 30 days to close.
- I will provide you with a detailed calendar of what should be happening and when
- You will need to wire your 3% deposit
- Provide your lender with any additional paperwork needed
- Shop for fire insurance
- Do any inspections if needed
- Remove contingencies if applicable
- Sign loan documents and escrow paperwork
- Wire remaining down payment and closing costs
- Call utility companies to set up utilities
- Do walk through of property
- Escrow closes
- I give you the keys!! You get to move in

Welcome to Home Ownership

This will be the exciting part! You get to move in, unpack all your things and get settled into your new home. If there are any questions at this point or in the future I am just a phone call or email away. I will be there for you from now on as your trusted advisor.