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Oh So Many Moving Parts in the Homebuying Process

We last left Sally looking in the refrigerator of a seller’s home while her friend Hadley was looking at the condition of some of its features with her agent. Hadley has wisely chosen her agent based on the talents and skills she brings to the process. She hopes this will produce a better result for her in buying a home. But we will see.

As they walk through the kitchen area, Hadley thinks of something about the kitchen in her apartment–it does not have a garbage disposal and she hates that! She checks to be sure this home has one. The agent smiles knowingly. “Lots of people focus on correcting the things they hate the most about where they are living now,” she noted. “I once lived in a home with only one bathroom and I would only look at houses with 3 bathrooms for a long time when I started to shop. That was a mistake.”

“But that reminds me: what is your lease termination situation? We need to be sure to tailor the purchase date for your new home to your best advantage so you are not paying rent and mortgage payments at the same time. IF that is at all possible,” she added. “Sometimes we have to give a little on the closing date in return for a better price.” Lease

Hadley stopped trying to find the disposal switch and turned to face her agent. “I never thought of that!” she commented. “I guess
I am on a month-to-month now but I really haven’t read the lease lately.”

“We need to do that,” her agent noted. “Why don’t you send me a copy and we can decide what your rights are. Maybe we can call the landlord and see if he would be willing to let you end on the day you buy your home.” “Is that possible?” asked Hadley. “I have had success with that in the past for my clients,” her agent informed her.

“Wow!” Hadley was impressed. She thought a minute more and asked: “What other timing issues do I need to consider?”

“Well”, her agent replied, “the timing of the mortgage is key. You do not want to have to incur any lending charges until after you have inspected the home and come to a final agreement on what things have to be repaired, etc. Sometimes you have to terminate at that point so you do not want to have started the loan process yet. Then you have to make the closing date far enough in advance to give the lender time to obtain the appraisal and do all the underwriting, but not too far so that the rate expires.”

Sally perked up at this conversation, having spend the last few minutes reading the diplomas on the wall in the den. “Gee, my agent did not tell me these things when I bought. And we did have an issue with the rate. We had to pay extra money to extend the ‘lock period’ or something like that. And I was never sure we got a very good rate anyway. We used the lender at the real estate agent’s offices.”

 

 

 

 

stop Let’s stop here and observe a few things.

• Buying a home is so much more than finding it. There are trip points at every step along the way.

• Seasoned agents know how to address the possible problems before they surface.

• Using an affiliated lender is not a guarantee of the best terms. Shopping the loan is the best way to get the best rate.

• An exclusive buyers agent will most likely think of your needs more often and with more expertise than an agent who has a realtionship with the seller.

To avoid these issues and others when buying a home, use the services of an experienced, trustworthy exclusive buyer’s agent. Sage Realty is one of the ONLY exclusive agencies in the Philadelphia metropolitan area. Even if you are buying in another market, ask us to refer you to the best EBA in that area. If you are a first-time home buyer, your fears will be eliminated. And if you have bought a home before, you will have a completely different experience. Contact Sage today.

Featured Testimonial

I moved to PA from Washington State and learned that realty is local. There were things that I thought I knew about buying a house previously but boy was I wrong. Linda was very patient with me but also did not hold back when she saw potential problems, and always made sure I had all the information I needed before making a decision and didn’t belittle concerns to just get a sale. Above all else, and this was the most important thing to me, Linda has a high ethical standard, is very transparent in her approach and is someone I trusted making one of the biggest decisions of my life. – A. Lindsay (Courtesy of Google)

 

Hear From Our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Hear from our Clients

  • "We were so pleased that a co-worker recommended someone in the area that she trusted. Boy, did we strike gold on all counts. You are amazing!"
  • "Instead of trying to take advantage of conflicts of interest, she puts the client's interests first."
  • "Linda is a hardworking, proactive and knowledgeable realtor. Throughout the process of finding and buying our new home, she was always responsive and kept us up to date on every detail."
  • "Linda and the group at Sage are the right fit. You won’t find more knowledgeable, prepared and professional agents."
  • "Linda and Tracey really know the Main Line area."
  • "Throughout the entire process we never doubted that she always had our best interests in mind. We wouldn’t consider anyone else when buying a home on the Main Line."
  • "From start to finish, Linda brought to bear a most helpful combination of experience, knowledge, attention and integrity on a somewhat complicated transaction. There was never any doubt that she represented our interests."
  • "Her knowledge of the area helped us quickly narrow our search and ultimately scored us an amazing home in an incredible neighborhood."
  • "It is hard to trust when you are not sure of the rules of the game. Working with Linda made us feel like we were family. Linda took her time to relay and explain everything in detail."
  • "Linda’s honesty and real estate savviness made for a wonderful home buying experience!"

Read more about what our clients have to say

Sage Buyer Tips

Use Sage Buyer Tips to research the Main Line and stay up to date on real estate news. This online destination is chock full of resources for buyers and sellers: you can see our Main Line communities or explore Sage favorite places. Browse properties here and search other Main Line real estate. With Sage’s advice and experience, first-time buyers and those looking to upgrade can find homes best suited to their needs.