The Buyer Who Is Downsizing

At this point in your life you are most likely re-evaluating your home requirements. Perhaps the kids are now grown and you find yourself with more house than you need, or you may be restructuring your finances to increase that nest egg. Let us assist, by identifying the many options available to you, and we will work hard to help you to find that perfect new home.

Please be sure to ask about the discount we offer to you, the seller, when we represent you in both selling and buying a home.

When you bought your current home you may have worked with, or been referred to, an agent who practices real estate part time. It might have been a good experience or it might not have been. But among the many things you have learned, having been a homeowner, buying a home is a major financial commitment that is complicated and time consuming. This time you want a professional Realtor® at your side, providing you the benefit of exclusive representation.

Keep in mind; unless you will be building a new home or buying a builder's inventory home, it usually is best to have a contract on your current home, before you begin seriously shopping for your next home.

There is, in the meantime, a number of things you can do to prepare for your next home purchase.

As with all successful endeavors in life, the first step is to formulate a plan, the second step is to take action and the third step is to implement your plan.

Step One:

Review the home buying information provided in the links below and for your own benefit, determine and outline in writing;

• Your minimum requirements in a new home
• Decide what you are willing to compromise on, e.g., lot size, square feet, features
• How much you wish to spend on a new home
• What town, city or general area you would like to live
• What you are looking for in a community or neighborhood
• What requirements you may have regarding schools, if any
• Other location requirements you may have, e.g., shopping, gyms, lifestyle
• How far you are willing to commute, if this remains a factor

Step Two:

You now have good idea of what you are looking for in a home and neighborhood. Now call the team at Lone Real Estate Group™ and let us get busy helping you make your dream a reality.

Step Three:

Even though you have done this before, there may be some things you don’t remember, because you don’t do this everyday. We do. Let us guide, advise and assist you throughout the entire home buying experience. We will personalize our efforts and service to meet your specific needs, we will assist in streamlining the pre-qualification process and…

We will work hard to keep your home buying experience fun and exciting.

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The Process

Task 1 – Proof of Funds or A Mortgage?

Determine if you will be using cash or acquiring a mortgage for this transaction.

If this will be a cash transaction or a substantial cash down payment, the following will be required;

• Proof of funds prepared by your bank or financial institution, with a copy on file and readily accessible

Should you wish to utilize a mortgage for any part of this transaction, we would be happy to put you in touch with lenders who we have worked with and trust. They are respected and professional lenders who have access to a wide variety of programs suited to the affluent home buyer. But we also encourage you to shop and compare.

With their assistance you will be able to determine;

• The amount of the down payment (if applicable)
• An estimate of the closing costs
• The projected monthly payment, if applicable

Task 2 – Meet with a Lone Star Real Estate Group™ team member

There are a lot of steps in the process between making the decision to buy a home and moving day. We have found our clients enjoy the home buying experience much more when they understand the process, the flow of things and what it takes to get from point A to point B.

We will schedule an appointment to discuss;

• Your home buying goals
• The aspects of house hunting and viewing properties
• What happens when you find “the one”
• A review of the steps in the home buying process
• The benefits of a home inspection
• A review of the closing process
• Specific expectations you may have for the team at Lone Star Real Estate Group™
• Answer any and all questions you might have

For your convenience, we will gladly meet with you at your home or office.

Task 3 – The Hunt Begins

You have now determined your home buying criteria and we have reviewed the processes. The search for the ideal home now begins.

The next steps are;

• Viewing homes
• Modifying criteria as warranted
• Finding “the one”
• Reviewing area comps
• Deciding on an offer
• Making the offer
• Negotiating the offer
• Obtaining a home inspection
• Negotiating repairs
• Completing the lender requirements (if applicable)
• Obtain loan approval (if applicable)
• Final walk-through of property
• Closing the transaction
• Moving into your new home

Information for the First Time Home Buyer

Information about Pre-Qualification and Home Mortgages