After we find the right home, how
do you make it your own?The home buying process involves important steps, many of which
happen quickly.
We will guide you through the process, explaining each
step, including:
- The seller's obligations
- Your obligations and choices
- The purchase agreement
- Offers and negotiations
- Home inspections
- Title and appraisal
- Home protection plan
The Seller's Disclosure Statement
reveals information that may affect your offer to purchase.Terry D Lynch and GMAC The Kee Group provide all buyers a Sellers Disclosure statement (now law in more than 20 states, including Michigan) that require sellers to disclose faults associated with the property they are selling.
We will thoroughly review the Seller's Disclosure Statement with you, and help you understand how it affects your offer to purchase the property.
Negotiating the purchase agreement
is part of every transaction. Preparation lets you negotiate the best price and
terms obtainable.Our
experience has
helped us develop negotiating strategies and techniques.
As your buyer agent, we will work with you to prepare an offer
for the home you have selected, leveraging the information gained from the Competitive
Market Analysis prepared earlier.
We will offer you our
advice on the
initial price and terms to offer, where permitted.
Your purchase offer should be
carefully prepared and presented, to generate the favorable response you want.We will prepare the written offer for your signature, with the terms and
conditions you approve.
We will present your
purchase offer
directly to the seller, if possible, in the presence of the listing agent.
We will communicate
to you the seller's response and, if necessary, your negotiating options.
An accepted offer leads to a
legally binding purchase contract.The contract is an agreement between the seller and the buyer to exchange the home for
the price specified, under any conditions specified and on a date specified.
Buyer and seller each sign the contract and then may have
a brief period for attorney review.
We will guide you through the process, and can provide you
with a list of attorneys if you do not know one.
Professional inspections are the
best way to avoid surprises that could be costly or even dangerous.The home should be inspected by a professional who is trained to
evaluate its systems (structural, plumbing, electrical, etc.), and detect the presence of
radon, lead, termites and other harmful insects or hazards.
As a preferred
customer, you can
take advantage of the inspection services available through GMAC The Kee Group.
The property title search traces the history of the property's
ownership.
Title insurance is issued to protect your interests, in
the event that someone claims to have rights to the property.
As a preferred
customer, you can
purchase title insurance through GMAC The Kee Group programs.
An appraisal provides independent
confirmation of the value of the home.Independent appraisals are often required by lenders. The appraisal report
compares the value of the home to others of similar size, features and location.
We will provide you
with the details of
appraisal services available through GMAC The Kee Group, if your mortgage lender allows you
to select your own appraiser.
A walk-through lets you confirm
the condition of the home before the closing takes place.We will accompany you on a thorough
walk-through (if
your contract allows it) prior to the closing.
Should a concern
arise during the
walk-through, we will assist you in resolving it.
We will monitor the entire
purchase process, and help you prepare for a smooth closing.We will track the satisfactory completion of all contingencies and conditions
required under your purchase agreement.
At the closing, documents will be signed and funds will
be exchanged to make the property yours.
The closing will be
held at either a
title office, an escrow office, or your lawyer's office, depending upon where you live.
A home protection plan can protect
you from unforeseen risks.A home warranty provides repair-or-replace coverage for most major home operating systems
and appliances, usually for one full year after closing.
This protection spells peace of mind and budget security
from unexpected repair bills.
We will provide you with details of home warranty coverage
available through GMAC The Kee Group.