Drew Curran

Drew Curran

Residential Broker

630.484.4289

drew@drewcurranhomes.com

 

What's My Home Worth?
Buyer's Guide
Seller's Guide
iPhone and iPad Compatible

Deciding To Buy

Have you outgrown your current home? Are you looking to downsize/right size your life?  Are you looking for an investment property, a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute to work? Having a clear sense of your reasons for buying will help you choose the right property.

Taking the Guesswork Out of Buying

Get pre-approved
To finance your new home, meet with a mortgage company. Pre-approval for a home loan is a good gauge of how much you can borrow and it shows home sellers that you have the backing to buy.

Set a budget

Know your total budget, which not only includes the price of the home but also closing costs and fees. Also consider post-purchase expenses such as moving fees, security systems and furnishings.

Make a list

Determine what your family truly needs in a new home. Anticipate your future needs, such as will your family be growing or will your job location be changing? Prioritize your list and decide what features are a must have and what amenities can be sacrificed. Having a vision of what you want makes it easier for all parties involved.

Location, location, location

Location is crucial when searching for your home. Only you can decide which location is best for you. A few considerations include: How far do you want to commute to your job? Do you require nearby neighborhood services such as public transportation, shopping and senior resources? You should also think about the location’s impact on the resale value of the property if you are anticipating selling in the next few years.  I will help guide you so that you find the right location for your needs.

Narrow Your Search

Select a few properties that interest you the most and make appointments to visit them. Location, Location, Location…Resale, Resale, Resale….We will evaluate the potential long term resale value of the properties you are considering.  We all intend to stay forever…but this is not reality in the world we live in today.  Ensure your property is properly priced and will maintain its value when and if you ever need to sell it.  Compare tax bills on like priced homes.  Often times two homes priced the same will have two completely different tax bills.  Taxes can have a big impact on you and your family for the life of your time in your new home.  Talk to the neighbors…Most people don’t, but talking to the neighbors around the area before you make an offer is usually not a bad idea.

Make an offer

When you find a home that meets your needs, it’s time to make an offer. I will help you determine an appropriate price and will help you negotiate the offer.

The Home Inspection

A home inspection is a great way to find any potential hiccups the home may have that you did not see during the initial home tour. Once you know what needs attention, if anything, we will go back to the seller to discuss items that should be taken care of before purchasing the home.  Once your offer is accepted by the seller, you will need to have a licensed property inspector inspect the property within the timeframe that was agreed upon (usually 5 days or less) in the effective contract to purchase. You may elect to have different inspectors inspect the property, if you wish to obtain professional opinions from inspectors who specialize in a specific area (ex. roof, HVAC, structure). I will always have several recommendations for a few different inspectors from which you may choose but you may also choose your own.

Appraisal and Lending

It is imperative that you keep in close communication with your lender, who will let you know when additional documents are needed to approve your loan application and fund your loan. If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution, via a third party. This is done so that the lending institution can confirm their investment in your property is accurate. Appraisers are the specialists used by the lenders in determining the value of properties, based on a combination of square footage measurements, building costs, recent sales of comparable properties, operating income, etc. When you are within two weeks of closing, double check with your lender to be sure the loan will go through smoothly and on time.

Property Insurance

If you are obtaining a loan, you will be required by your lender to purchase a certain amount of insurance on the property. The value will depend on the lending institution and the purchase price of the property. You may be able to save hundreds of dollars a year on homeowners insurance by shopping around for insurance.

How to Hold Title

I will always recommend that you consult a real estate attorney or tax advisor on the best way to hold title. Different methods of holding title have different legal, estate and tax implications, especially when selling or upon death of the title holder.

Any last minute items, I’m prepared

  • I will be ready to assist you at the closing should any unforeseen circumstances arise.  If something at the property breaks down last minute, or some other minor detail happens – no need to worry. I have encountered several problems at closing, and know how to handle them efficiently and in a stress-free manor.

Close the deal

Closing is the final step in completing a real estate transaction. At the closing, ownership of the property is transferred to the buyer and any costs incurred by either the buyer or the seller beyond the price of the property itself are paid.

The house is yours!

The final papers have been signed and you have the keys to your home. It’s time to move in!