All about BUYING Real Estate

Tips on Buying

Over the years we've discovered that most people let their heart find the home they love and then try to justify their purchase afterward. Our goal is to help you find a property that not only wins your heart, but makes good investment sense as well. When you call The Susan Horak Group Re/Max Boone Realty, you'll be tapping into a wealth of information and market experience. We are accustomed to working with a variety of clients - from the first-time Buyer to veterans of multi-million dollar real estate transactions. Regardless of the level of experience of our client, we answer questions with straight talk and facts. No jargon or hype. No song and dance. Just the plain old truth. Here's where you start.

1. Survey the Landscape
Drive around and get a feeling for Columbia and its many neighborhoods. Then, meet with us for your fist showing appointment where we will discuss your plans, time frame, "wish" list and "have to have" list. At that meeting we will also discuss how we will be working together, what options you have as a Buyer for real estate representation, and how an agency works in Missouri.

2. Search For Your Dream Home
After our first meeting and a review of our "game plan", we'll go out again and view some more properties. We will have done our homework and have selected the most likely candidates based on our conversation and your reactions to the homes we showed you before. We won't waste your valuable time looking at homes that are not suitable. It's likely that if you've shared with us all of your requirements and we've listened carefully, we will find you the right home in an afternoon. Occasionally the first day becomes a familiarization tour and it takes another day to narrow down choices. Once you've fallen in love with a home, we'll help you make a decision, write up the contract on a State of Missouri approved form, negotiate the purchase, and you'll be on your way.

3. Take Advantage of a Personal Shopper
You will have the advantage of working with one of our Buyer Specialists (Susan, Molly and Jan all work with buyers), which is like having your own personal shopper! Our professional team of Buyer Specialists focuses solely on Buyers and makes it their full time priority to know all of the listed properties in the Columbia Area. 

4. Negotiating Your Best Deal
In spite of the recent economic climate, ours is not a market where you can steal property. The market is back! Not as fantastic as it was in 2005 by any means but property values are increasing.  There has also been a shortage of homes on the market for the past two years. This means there are more homes then buyers to buy them.  Most properties in the Columbia Area sell within 96%-99% of their listed price. We'll provide the facts about recent sales. If we are representing you, we can help you determine the best offer to make which has a realistic chance of succeeding. Our specific advice will be based on years of experience and thousands of  successful transactions. But here are some general tips:

* Make your offers clean and simple, with the fewest contingencies possible.

* Have "vision" beyond the obvious - many Buyers can't see potential in a property that doesn't present itself well -if you can, there may be an opportunity for you.

* If you are not paying cash, pre-qualify with a local lender like Vickie Burks at Landmark Bank and submit the letter of approval with your offer. This shows the seller you are a serious buyer and not just wasting their time. 

6. Financing, Title Work and Other Details
Most Columbia Area Buyers secure financing through locally based mortgage brokers. Most homes under $1 million can be financed at 75-100% of value. Terms for loans over $1 million are determined individually, as are loans for construction and vacant land.
Upon sale, Missouri requires the closing agent to withhold 2% of proceeds from non-resident Sellers and to ensure the Seller files a tax return reporting the gain the next year. Excess funds are returned. In Missouri, the Seller pays for title insurance fees. Escrow fees typically total less than $250. You can review financing costs with your lender.

7. Long Distance Closings
Thanks to the convenience of technology and overnight delivery, many of our closings are handled long distance. We will oversee completion of inspections and appraisals, maintain day-to-day communications between Seller and Buyer, the lender and the title company. We commit to remaining your primary source of information and assistance, even months or years after closing. We don't believe our relationship is a fleeting one, but rather an opportunity to establish a lasting friendship. We know that the greatest praise we can receive for a job well done is the referral of your friends and family. We look forward to meeting them!

For more helpful information on buying a home visit our buyer's page: http://www.susanhorak.com/buyers.html