The Buying Process with the Swanson Group
The first step you’ll want to take is to meet with Bill or one of the Swanson Group team members so that we can learn more about your preferences and timeframe. This meeting can happen in person, over the phone, or online. We’ll review agency choices, financing options, and help build a plan to get you into your new home based on your schedule and budget. We are happy to recommend mortgage professionals whom we have vetted and are very respected in the industry.
Finding the Right Home
Once a plan and budget are in place, we can begin the exciting process of searching for your new home. We’ll send you a link to an app that we work with directly, with a live feed to the MLS system, where brokers input their houses for sale. We will also set you up on an automatic notification process to notify you via email or text when new listings that meet your criteria hit the market.
After our interview, we will use the parameters you wish to set up searches to find and notify you of homes that enter the market. After viewing those homes online and choosing which ones you want to see, we’ll help set up appointments to view them in person. Remember, it’s okay to take your time. Rarely does someone walk in and just know this house is the one. However, it’s also okay to buy the first house you see if it meets all of your criteria.
Many of our past buyers have used the 80-10-10 rule when searching, and are now happy homeowners. In essence, the rule is that the right house has 80 percent of what you want in a home, with 10 percent of things you would like but can easily change (things like paint colors, finishing a basement, even removing a wall, etc.), and be willing to disregard 10 percent of what you would have “liked to have” but can live without. Using this rule may make your search easier, and you may find yourself and your family much happier in the process.
Reaching an Agreement with a Seller
When you find the right house and are ready to make your offer, we will run comparable sales and help you prepare your offer to the seller. We will also discuss with you important aspects in this process, such as a closing date, inspections, earnest deposit amount, whether to ask for some of your closing costs paid by the seller, and more. At that time, you will also include your acknowledged review of the seller’s property disclosures.
An approval letter from your lender, or a “proof of funds” letter from your bank if you’re paying cash, must be included with your offer. If you’re in a multiple offer situation, we can help advise how to enhance your chances. This may be an increased earnest deposit, flexibility on closing date, or possibly a letter from you to the seller to be presented with your offer telling your story and what you will enjoy in making their house your home.
Your offer will come back from the seller with one of three possibilities: accepted as written, rejected as written, or a counteroffer from the seller will be made to you. When all things are acceptable between you and the seller, the offer is deemed accepted and we move on to the next step. Keep in mind that the seller’s agent is not obligated to present your letter to the seller, but you can prepare one and submit it with hopes they do.
Completing the Settlement Process
Your earnest deposit will be turned over to the title company within 48 hours of acceptance, unless otherwise agreed in writing. Inspections requested in the contract will be ordered, and we’ll work with you to keep you informed of each step in the process.
Your lender will start processing the contract, and you can choose your rate. Your lender will also order your appraisal. (They may request an appraisal fee at that time.)
Make sure you arrange for homeowner’s insurance and call utility companies to transfer services on closing day.
A final walk-through of the property will occur within a few days of closing. This takes place so that you can verify the house is in the same condition as it was when you made the offer. This is also when you can confirm that any repairs were made, if noted under the inspection contingency.
Your lender will provide you the exact amount needed for closing day. You can wire those funds to the bank, but it’s preferred to bring a cashier’s check when you sign your closing papers.
Closing day typically takes between 15 minutes and an hour to complete your paperwork, depending on financing. You receive your house keys at the closing table once everything is signed, and you have given your funds to the title company.
Congratulations! Even though you are now a homeowner, your Swanson Group agent will not forget about you. Please remember that you can call us for anything you may need, from copies of paperwork from your sale, to contractor referrals for work you do on your home. You can expect that we will be reaching out to you from time to time, as well, just to check in.
Buying or Selling a Home in Omaha? Call Bill Swanson Today!
As a long-time resident of Omaha, I know the area and the surrounding communities intimately, and can give you access to information that you could never find online. If you want to know more about the community, are looking to buy a home in a new community, or need the help of an agent to sell your home quickly, conveniently, and successfully, then email Bill.Swanson@bhhsamb.com, or call (402) 679-6566.