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Buying Your Home

Buying Your Home

Listed below are steps typically taken by ABQ Realty during the various stages of a successful residential real estate transaction. Depending on the transaction, some steps may take minutes, hours or even days to complete, while others may not be needed.

More importantly, these services reflect the level of skill, years of knowledge & attention to detail required in today’s real estate transaction, underscoring the importance of receiving help & guidance from someone who understands the process.

*** Listed in Red are extra steps provided by ABQ Realty that may not to offer by other agents.

PRE-HOUSE HUNTING
  • Help Buyer determine wants & needs for database search
  • Convert database to automated search engine on MLS
  • Confirm set-up & discuss automatic e-mail sent by database
  • Upon Buyer’s request, e-mail additional property information (ie Seller’s Disclosure, etc.)
  • Upon Buyer’s request, e-mail basic CMA including Current Listings, Pending Sales & Sales
  • Suggest Buyer interview at least three different Lenders
  • Follow-up weekly to ensure wants & needs are met
HOME TOURS (SHOWINGS)
  • Map out showings to shorten drive time
  • Schedule appointment with Sellers before showings
  • Meet Buyer at each home & answer questions
  • Follow-up on information and questions unable at time of showings
  • Discuss Buyer’s Agreement & how Buyer agents usually get paid
THE OFFER AND CONTRACT
  • Research sales activity for past 12 months from MLS
  • Research “Average Days on Market” for properties of this type, price range and location
  • Prepare detail “Comparable Market Analysis” (CMA) to establish fair market value
  • Prepare presentation package with above materials
  • Email CMA results to Buyer, including Broker’s Price Opinion (BPO)
  • Review & explain clauses in Purchase Contract & Addends
  • Explain Earnest Money Deposits, Escrow & Default
  • Counsel Buyer on making the offer. Explain merits & weakness of their offer
  • Obtain Buyer’s Pre-Qualified Letter by calling Loan Officer
  • Negotiate offer on Buyer’s behalf
  • Prepare & convey any Counteroffer(s) to Seller’s agent
  • When Offer to Purchase contract is accepted & signed by Buyer, deliver to Seller’s agent
  • Deliver copies of fully signed Offer to Purchase contract to Buyer
TRACKING THE LOAN PROCESS
  • Follow loan processing through to the underwriter
  • Contact lender weekly to ensure processing is on track
HOME INSPECTIONS
  • Schedule inspections in Buyer’s availability timeframe
  • Coordinate Buyer’s inspections with Seller’s agent
  • Attend inspections
  • Review inspector’s reports
  • Counsel Buyer on repair request & negotiate all repairs on Buyer’s behalf
TRACKING THE PURCHASE AGREEMENT PROCESS
  • Record and promptly deposit buyer’s earnest money in escrow account
  • Deliver copies of Offer to Purchase contract to lender
  • Ensure contract deadlines are met
  • Prepare and convey any Amendments to Seller’s agent
  • Coordinate closing process with Buyer
  • Work with Buyer in scheduling & conducting the final walk-through prior to closing
  • Attempt to clarify and resolve any conflicts about repairs if Buyer is not satisfied
  • Request final closing figures from closing agent (Attorney or Title Company)
  • Receive & carefully review closing figures to ensure accuracy of preparation
  • Forward verified closing figures to Buyer
  • Attend closing at Title Company
FOLLOW-UP AFTER CLOSING
  • Respond to any follow-on calls & provide any additional information
  • E-mail survey request
  • Organize documents & download Closing documents
  • Leave secure online access to documents (Transaction Room) open for at a year

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