How to Buy Your Home
How to Buy Your Home
Thanks to a robust suite of available digital tools and services, buying real estate from the comfort of your own home is not only do-able, but it’s simple. Here are the steps to buying a home 100% virtually, online.
How to Buy Your Home
Online Consultation WITH A REAL ESTATE AGENT
Whether you use Zoom to host a video chat or simply connect over FaceTime, it’s easy to connect and have an online consultation with a real estate agent to plan your home purchase. Share your goals, review your options, and talk openly about your ideal timeline in which to accomplish everything you need.
How to Buy Your Home
Shop Online FOR HOMES
Buyers can easily shop online to view homes for sale. There are multiple different tech platforms and systems available to send buyers email updates on the latest properties that hit the market based on a robust list of wants and needs. Targeted to exactly what you’re looking for in a new home including bed and bath count, location, and property type, these email alerts can keep you properly up-to-date on each and every property worth exploring.
How to Buy Your Home
Virtually Tour Properties & ATTEND OPEN HOUSES
It is common for listing agents to not only have professional photography done, but also create full virtual tours for properties listed for sale. Utilizing property videos and other virtual walkthrough tours, you can walk a property step by step, without having to set foot inside yourself. Many agents are also now hosting virtual Open Houses posted on Facebook and Instagram Live, which allow large groups of interested buyers to view a home at once with minimal interruption to the owner and seller. These virtual Open House broadcasts can also be a great way for you to ask questions in real-time to the listing agents and sellers.
How to Buy Your Home
RUN
CMA Report
Once you believe you’ve found the perfect home to submit an offer on, your agent should run a CMA (Comparative Market Analysis) to ensure your offer is spot on. A CMA Report aggregates market data and helps reveal whether or not your dream home is properly priced based on the other properties currently for sale, and those that just closed sale. These market and neighborhood trends are crucial to understand in order to submit an offer that will get accepted. In addition, innovative tech platforms such as First Team’s Market TrendsSM can keep you informed on the changing trends in your neighborhood real estate market. With a free weekly subscription, you can stay up-to-date on changing average sales prices, fluctuations in inventory, and more. Contact me if you’d like to sign up for a free subscription.
How to Buy Your Home
REVIEW &
Sign Documents Online to Submit Offer
Today, the entire process of writing and reviewing offers, negotiating, sending earnest money, and signing documents can be done online. An earnest money deposit is required from you as the buyer, typically about 2% to 3% of the purchase price. These funds, and the final payments, can all be wired remotely. Using secure emails and DocuSign, all parties remain informed and the transaction moves along smoothly online. Drive-by and desktop review appraisals supported by Fannie and Freddie Mac can also be conducted to keep your transaction running smoothly with zero in-person contact needed.
How to Buy Your Home
Licensed Home Inspector SAFELY INSPECTS & ESCROW CONTINUES
Although you never have to step foot inside a home to buy it, licensed home inspectors will still go out to safely and thoroughly inspect the property before a purchase. A qualified property inspector knows how to evaluate important home systems, including the condition of the foundation, the roof and heating, and cooling systems. The final inspection report can be sent via email and reviewed over a phone call to inform you of any important features on the property requiring immediate repairs or additional testing. During this time, the sellers will also be securing a title report and you will be working with your agent and mortgage loan officer to collect all paperwork necessary for your home loan.
How to Buy Your Home
Close Escrow AND RECORD ELECTRONICALLY
Closing escrow is simple and can be recorded electronically, with the title transfer recorded and insured digitally, requiring zero in-person contact. Final funds can be wired remotely and buyers will receive the keys to their new home with no hassles!
How to Buy Your Home
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