Finding A New Home
GR Home Team will discuss your particular criteria for a house and neighborhood, and then search for properties that fit those specifications. GR Home Team will set appointments for showings and monitor the market as new listings become available.
Watch this 3 minute tutorial to see how to utilize portals that GR Home Team will create for you: Portal Tutorial
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- West Michigan School Information
Compete and WIN as a Buyer in today’s CRAZY market!
- Don’t become part of the crazy! This is a high-pace and competitive market. Be sure you really love the home and area before getting involved in an offer.
- Pre-APPROVAL letter - Partner with a reputable, local lender and get a loan pre-approval letter. This makes your offer stronger.
- Prepare to Show Proof – Plan on showing verification of funds if you have a large down-payment, are paying cash or offering an appraisal gap.
- Expect to Compete - If it’s a great house and area, you will be competing against other buyers. Be ready to act quickly when the right home comes up. Fast decisions are easier if you feel confident in your knowledge of the market, contract terms, and pricing.
- Less Requests are Better - The less requests for items in the offer (survey, home warranty, appliances) and less contingencies (inspections & appraisal) the better. Ask us about options for home inspections BEFORE you write an offer or fast inspections after. Some buyers waive inspections but this can be risky and depends on the price point, your cash reserves, your risk tolerance and the condition of the home.
- Allow the Seller to Stay. Offer the seller longer possession time after close at no charge.
- Highest Does Not Always Mean Best. The seller is not obligated to take the highest offer. The terms of the offer such as, inspections, type of financing, possession, closing date, personal property included, and length of contingency periods can mean more to the seller than price alone.
- Know Your Numbers. Ask for a detailed Loan Cost Estimate from your lender. Know your cash reserves, down payment, and closing costs and be ready to discuss and manipulate these numbers to create the best overall offer that still meets your budget.
- Offer an Appraisal Guarantee. In a market of rising prices, sellers often fear their home won’t appraise for the amount of the offer. Buyers can commit additional down payment funds to make up the difference in a low appraisal. You can guarantee as much or as little as you have funds and risk tolerance for.
- Off the Beaten Path. Look for opportunities that other buyers have passed up. Maybe they were initially priced too high, needs some TLC or are located outside your preferred area. You can still find some great opportunities without stiff competition.
Know The Timeline
2 TO 6 MONTHS
- Select GR Home Team to work with you. Discuss needs, goals and wants.
- Contact a reputable and recommended lender. Review your credit and monthly budget needs. Determine price range for the home you seek.
- Drive through different areas in town to deter- mined locations and amenities that are most appealing to you.
1 TO 3 MONTHS
- Select your qualified lender. Get pre-qualification letter and good faith estimate from lender. Provide a copy to GR Home Team.
- Review and evaluate listings online. Drive by specific homes and neighborhoods. Narrow search and tour homes with the GR Home team to find the right home for you.
- Make an offer to buy home. Your offer will either be 1) accepted in full, 2) accepted in part with a counter-offer written and sent back to you, or 3) rejected. The purchase offer is not binding on either party until all signatures are complete and all counter-offers closed. This becomes your purchase contract date.
- Earnest money due. 1-10% of purchase price. Credited to you as down payment at close.
WITHIN 1-10 DAYS OF
- Meet with lender to complete full loan application. Submit all documents. Pay application fee and order appraisal. Request final good faith estimate for accepted purchase. Give copy to GR Home Team.
- Schedule and perform inspections. Payment for inspections is expected on date of service. Discuss any inspection concerns with GR Home Team. Negotiate any specific items if needed.
- Order and review survey and title work.
- Obtain and review any association documents and seller disclosures.
- Call moving company to reserve truck and date. Ensure all items, including appliances, are available when needed.
10 DAYS BEFORE
- Obtain homeowners insurance. A one year policy for home insurance must be procured and paid for in advance of closing.
- Deed preparation and loan documents are completed and sent to title company.
- Ensure all down payment and funds required for closing are in an accessible checking or savings account, as required by your lender.
- Call to change utility service to your name as
of the date of possession. Please reference the utility list provided to you from GR Home Team. If you have any questions about which utility companies to call, just ask.
- Pack, pack & pack
3 DAYS BEFORE
- Review the closing statement with your lender and GR Home Team. Compare to the good faith estimate originally received from your lender. Ask any questions now.
- Schedule final walk through of your house if one has been requested and arranged.
- Obtain a certified check in the amount on your closing statement payable to the title company.
- If wiring money, be aware of wire fraud. Call for details before wiring.
Arrive at the closing location at your scheduled time. Make sure you have identification and your certified check. Plan to spend 45 to 60 minutes at the closing.
- May be on closing day OR up to 30-60 days after closing. Your agent will explain your options and negotiate the best overall offer for you.
- Proud owners. Congratulations!
- You now own your home. Good luck with
your moving plans. Call GR Home Team if you experience any hiccups along the way. We want you to be happy beyond the closing!
- Remember to refer your friends and family to our team when you have the opportunity.
- Best wishes!
*Financial obligations are noted in the red font.