Buyers' Checklist and Information

Use this as a guide to keep track of critical steps along the way to acquiring Mobile Al real estate, Daphne real estate and your Spanish Fort new home.

Create your wish list.
We've included one that can help define which features are must haves. And which ones are icings on the cake, and which ones don't really matter to you.

Find a Real Estate professional.
If you are not already working with another real estate professional, check out our"How to Select a Real Estate Professional" tip sheet.

Real Estate Agent:
Name        ______________________________________________
Company   ______________________________________________
Telephone  ______________________________________________
E-mail        _____________________________________________

Figure out what range you want to be in and get pre-approved.

Start shopping around.
Make sure you use our "Home Comparison Checklist" to record the pertinent details of your favorite houses in Mobile Al homes for sale, Daphne real estate and Spanish Fort, Alabama real estate listings. Then compare that list with your wish list to help with the decision making process.

Make an offer.
Be sure to have your agent check your local market to see how much over and under bidding has recently occurred for your chosen neighborhood. In addition, your agent can provide comparison houses and range of prices that you will be comfortable with. Barbara S. Reeves will be your best source to provide you with this comparative information.

Finish the loan process with the lender who pre-approved you.
Experienced loan processors are your best source to help select the program that best suits your needs and will lock in your rate. Barbara will guide you as to the companies with the best programs for you particular needs.

Lender:
Name       _________________________________________________
Company  _________________________________________________
Telephone _________________________________________________
E-mail      _________________________________________________

Order a home inspection.
When you are ready to make your offer, make sure it is contingent upon a home inspection that is conducted by a qualified professional.

Inspector:
Name       ____________________________________________________
Company  ____________________________________________________
Telephone ____________________________________________________
E-mail      ____________________________________________________

Have your home appraised.
This is required in order to proceed with your loan, normally your lender will order the appraisal.

Appraiser:
Name       ____________________________________________________
Company  ____________________________________________________
Telephone ____________________________________________________
E-mail      ____________________________________________________

Get Homeowner's insurance.
You will be required to show evidence of insurance prior to closing. Your Real Estate agent will give you the name and number of your closing agent at the title company to send your insurance binder.

Insurance Agent:
Name       ____________________________________________________
Company  ____________________________________________________
Telephone ____________________________________________________
E-mail      ____________________________________________________

Set up your utilities.
This can include telephone, gas, water, electricity, garbage/sewer and cable/satellite.

Prepare for and attend your closing.
Barbara S. Reeves will tell you well in advance exactly what is needed to close on time. Let that be your guide from here on out. The seller will determine your title company and where your home will be closed.

How to find your Realtor and Questions to ask when you do.
Ask others for a recommendation or go to a professional referral source.
Often, the best tips come from friends, family and co-workers. If you have unique needs (for example, first time home buyer, vacation home buyer, real estate investment property buyer), be sure to find an agent who specializes in and has recently closed sales specific to the needs you have. And if someone you know has had a positive buying or selling experience with a Real Estate professional, you definitely want that agent's name. The name Barbara S. Reeves will come up constantly.

Check out an agent's background.
A good agent will be willing to provide you with his or her resume and a list of references you can contact. Find out what their success rate is as well as the firm they represent and how long the firm has been in business. Also call the local Board of Realtor to see if there has been any problems or complaints registered on this agent, then call Barbara Reeves to help you find your Gulf Coast of Alabama home.

Continue to review your working relationship.
Once you have selected and agent, make sure you continue to receive the level of service you want. Barbara S. Reeves will constantly strive to meet your Real Estate needs with first class service.

Questions to ask yourself about Your Real Estate Professional

Is my agent accessible?
It's important that your Realtor regularly answers your calls or returns them in a timely manner, and is prompt when you have an appointment. Barbara will always return your calls, if for some reason she does not it is a fair assumption that she did not get them, so call back.

Is my agent organized and informative?
You need someone who can be a ready resource, providing you with answers that aren't vague or evasive, and is able to explain contracts and industry practices in a way you can understand. Barbara has the education and experience to be your first source of information.

Is my agent really listening to me?
If you are sure you're communicating your wishes and your agent continues to show you houses in the wrong neighborhood, price range, or style, it's time to look for a new agent. Barbara will show you exactly what you want to see, however if she feels a certain area or home is not in your best interest she will tell you from an objective view how she sees the home and you will be armed with all the information to make an informed decision.

Does my agent ask about my finances?
You want someone sharp enough to ask you the tough questions. Only by asking them will you and your agent be able to determine an appropriate price range for you. A good agent is one who is bold enough to talk straight with you instead of simply telling you what you want to hear. If you have financial challenges Barbara will be happy to work through them with you so the end goal will be home ownership.

Does my agent know the area well?
It's helpful if your agent demonstrates a ready knowledge of homes available within the area you're searching. This shows that he or she has actually been out previewing homes and is familiar with the area's community and property taxes, and not simply showing homes listed with their firm. Barbara puts your needs first and will show and sell her listings, her companies listings, other companies listings or a "for sale by owner" (please call Barbara for important advice before you contact a for sale by owner). The bottom line I want you to "Love" your home!

Document Checklist

Recent pay stubs.
Most lenders ask that all wage earners that will be on the mortgage submit two or three of their most recent pay stubs.

Last two years W-2's.
If you can not find these contact your employer for a replacement.

Last two years tax returns.
You should have these in your personal records. If not contact the IRS for the proper forms, probably a 4506 or 4506-T.

Credit Authorization and Release.
A form you complete that gives your mortgage company the go-ahead to obtain information about your credit history, employment history, and other related information.

Pre-Approval Certificate.
This specifies what size loan you have been approved for, before you choose a house.

Good Faith Estimate.
This document will list all settlement charges you are expected to pay at closing. This document is supposed to be given to you with in three days of applying for a loan.

Truth in Lending Disclosure.
This document list loan information required by Federal Law, including credit terms and conditions, annual percentage rate, and other mortgage financing charges. You will receive this document within three days of applying for a loan.

Rate Lock Agreement.
Protects you against a rise in interest rates between the time you lock in your loan rate and the time the loan closes.

Appraisal.
A written estimate of a homes current market value. It is completed by a licensed appraiser. You will receive it during the loan process or at closing.

Flood Certification.
States whethera home is or is not located in a Flood Hazard Area. It is used to determine if you must purchase flood insurance under the National Flood Insurance Program if your property is in a recognized flood zone.

Hazard/Homeowners Insurance.
Insurance you must purchase to protect your property against fire and other hazards.

Deed of Trust.
Agreement to pledge property as security for a loan, used in many states in place of a mortgage. In such an arrangement, the borrower transfers legal title to a trustee (often Title Company or Bank) who holds the property in trust as security for the repayment of the debt.

Find the Perfect Home

Home #1 address_____________________________________________________________
Home #2 address_____________________________________________________________
Home #3 address_____________________________________________________________

If you are a buyer looking for check list to help with your home search please feel free to cut and paste this page on to your own "Note pad" or "Word Document". I am happy to help you in your search for your dream home, please contact me at the link below or call me in my home office
888-489-8001. Mailto:BarbaraReevesRealtor@tds.net