Negotiated an Average of We Helped Purchase a New Home the Original Purchase Price for Our Buyers
Our Buyer Specialists Have Met With Have Shown Have Written With
480+
770 126 56 3% 64
We provide an efficient experience for our clients. After an in-depth consultation, our average Buyer is touring six homes and writing two offers — of which one will be accepted!
*Year-to-date as of 10/23/2024
The buying process is a combination of excitement, the unknown, and new experiences, whether you are a seasoned home buyer, property investor, or this is your first time buying a home.
Buying a home is not a purchase that most people make regularly, which is why it is crucial to have an expert consulting you at each step of the process.
This Buyer’s Guide is intended to give you a resource that will help you define your goals, research your options, and direct you through the process so that you can make informed decisions.
When you buy a home, it should be about YOU:
• Your Dreams
• Your Requirements
• Your Financial Situation
• Your Timeline
• Your Lifestyle Choices
• Your Concerns
Exclusive to eXp Realty and powered by Zenlist, you can access a vast repository of our MLS and Office Exclusive listings across the US and Canada. These exclusive listings are only accessible to eXp agents and their clients, offering an unparalleled advantage in the real estate market. With eXp Exclusives and Zenlist, you're not just navigating the market; you're leading it.
eXp Solutions provides a range of premier vendors, tools, and services to assist agents and their buyers throughout the real estate process. Acting as an extension of their team, we offer access to handpicked resources that uphold their commitment to excellence and client satisfaction. With partners like America’s Preferred Home Warranty and Utility Connect, eXp Solutions ensures a smooth buying experience.
eXp Realty is the world's fastest-growing independent real estate brokerage, leading the way with unmatched growth in agent count. With a revolutionary cloud-based model, we empower our agents with cutting-edge tools, technology, and training — equipping them to be the industry's most productive professionals and breaking down traditional boundaries to success.
Through our state-of-the-art technology, cutting-edge lead generation engine, and global reach, we are putting agents at the core of our company. Our resources allow agents to dedicate more time to understanding your needs, providing exceptional customer service, and tapping into a worldwide network to discover the perfect property for you. Our approach ensures that you have a personalized and comprehensive home buying experience.
355K+ #1 #1
5 YEAR TOP MOVERS SIDES & VOLUME
Working with a dedicated real estate professional is essential to finding the right home. Look for someone with proven expertise who can guide you smoothly through every step of the process — from the property search and offer negotiation to providing financial solutions. A strong track record in assisting buyers is key; choose an agent with the experience, knowledge, and commitment to make your home-buying journey a success.
Early discussions and a thorough Buyer Consultation will allow us to align with your goals and customize our approach to best meet your needs. This early clarifying conversation ensures a smooth, productive partnership focused on finding your perfect home.
You are in the driver’s seat! We empower you with control over your buying process, making it a highly personalized experience. We are here to help you make informed decisions with confidence.
We’re committed to guiding you with a clear, customized path through every step of the process, ensuring a seamless and exceptional experience— an approach backed by our outstanding customer reviews.
Buyer Client Services
We will always put your interests first with integrity and fairness. We'll go over the buyer agreement together, and I'll explain my services, the benefits you get, and how my fees work clearly and openly.
I will listen to what you need and want and use my local market know-how to find properties that match your criteria and budget. You'll have access to top tools like eXp Exclusives, letting you explore properties that fit your search.
Once you choose a property, I'll help you with a Comparative Market Analysis, craft your offer, present it, and negotiate to get you the best deal possible.
At your request, we can suggest experts for property inspections. After you review any inspection reports and consult with the experts, I'll guide you in addressing any issues found, always prioritizing your peace of mind and informed decisions.
We will monitor your transaction, update you on key developments, and handle any questions from other service providers to ensure a smooth closing.
You will be responsible for compensating eXp for the services provided to you. Sellers may offer compensation to eXp as a buyer's broker. If this occurs, the amounts that you have agreed to will be reduced on a dollar-for-dollar basis by any amounts that eXp receives from a property's seller and/or listing brokerage. I'll be transparent about any such arrangements on properties you're interested in. The Broker Fee is fully negotiable.
We pledge to strictly adhere to all applicable local, state, and federal fair housing laws, ensuring equitable treatment for all without exception.
We are here for you at all stages, offering introductions to local vendors and services as needed. Communication is based on your preferences. We aim for a lasting relationship where we are your go-to for any real estate needs, and you feel confident referring The Alex Haigh Group to friends and family.
Is it a permanent place for you and your family, an investment, or a second home? Whatever the reason, it’s important that you buy with an eye on the resale potential.
Why has buying a home also become such an investment opportunity?
• Land has become an increasingly scarce commodity, especially around major cities and cultural hubs, driving up demand significantly.
• Housing is widely regarded as a stable investment, often providing a strong return over time.
• A variety of mortgage programs, along with historically low interest rates in recent years, have made home financing more accessible and affordable.
• Mortgage payments build equity, which can later be leveraged to finance new opportunities.
• Moving doesn’t always mean you need to sell your home. With enough built-up equity, renting out the property might cover the remaining mortgage, providing a valuable income stream instead.
Investing your time to understand your local market and its influences could pay large dividends.
When buying a home, the key components to consider are location, property type, and price. These elements lay the foundation for your search, helping align your dreams with what’s realistic for your budget and preferences.
Where do you want to live? Location plays a crucial role in the long-term value of your investment, with properties in desirable areas typically seeing greater appreciation over time and better resilience in weaker markets.
What type of home suits your lifestyle? From single-family homes to condos, each type offers unique benefits depending on your needs.
What can you afford? Begin by reviewing your financial situation, including financing options, to set a realistic budget.
As you start exploring options, you’ll gain a clearer sense of whether your expectations align with the market. This process ensures you’re prepared to make informed decisions that support your goals, both financially and personally.
A neighborhood with low crime, friendly neighbors, and safe, walkable streets creates an inviting and secure environment that feels like home.
Homes in strong school districts hold higher value and attract families, making them great longterm investments — even if you don’t have school-aged children yourself.
Proximity to essentials like shopping, dining, and entertainment boosts a property’s value. For nature lovers, being near parks, trails, or beaches is a plus; for city dwellers, it’s access to key amenities and transport routes.s.
Properties with scenic views, waterfront access, or close proximity to favorite activities or outdoor areas tend to be highly sought after and command a premium.
Homes situated away from busy streets, flight paths, or other noise sources offer a more tranquil living experience—something worth considering when assessing a location.
These qualities not only make for enjoyable day-to-day living but also contribute to the long-term appeal and value of your home.
Loan Evaluation Offer Presented
Before making an offer, smart buyers apply to at least three lending sources to determine how much they can afford to spend and the best interest rate.
Sources: Florida Realtors®, consumerfinance.gov
Buyer’s Realtor® presents buyer's offer to seller’s Realtor, who conveys it to seller.
Good Faith Deposit
Along with the offer, buyer submits “earnest money,” or good faith, deposit to cement the deal. Deposit is held in escrow to be applied toward the down payment.
Seller’s Disclosure
Seller discloses issues that may materially affect the value of the property and which are not readily evident.
Purchase Negotiation
Working through their Realtors®, seller and buyer negotiate final sales price, sales terms, and any contingencies buyer may request, such as whether sale is contingent on inspections, appraisal, attorney's review, etc.
Sales Agreement Executed
Final WalkThrough
1-2 days before closing, buyer confirms that the home is in the same condition as when purchase offer signed and all elements to be conveyed are still in place.
Closing Documents Issued
Lender provides loan estimate and closing disclosure detailing all terms and costs.
Loan Application Processed
Lender conducts extensive review of buyer's credit report, employment, source of down payment, property appraisal, etc.
Title Search Contingencies Satisfied
Once financing is complete and other hurdles are removed, contingencies may drop off.
Concurrent with the loan process, closing agent confirms seller has clear right to sell property and establishes facts, such as whether there are restrictive covenants on the use of the property.
Buyer and seller sign documents and complete sale.
Understanding the fundamentals is important when considering a variety of property types and sizes, as each offers its own advantages and disadvantages:
The most popular style and the most solid investment, a free-standing, detached home resting on its own lot offers a greater degree of privacy. Typically, these properties and their land are owned completely by the homeowner and, therefore, entirely their responsibility to manage and maintain.
Homes joined by common walls offer less privacy than a single-family home but still provide a separate outdoor space and you do own the land. These homes can cost less than some single family homes to buy and maintain but are typically subject to homeowner associations that are responsible for maintenance and management, which can cost an additional monthly fee.
Condominiums can be high-rise residential buildings, townhouse complexes, or low-rise residential buildings where you do not own the land. Owners do not have complete control over their property, being subject to homeowner association rules; however, the maintenance and management of the building are taken care of, and in many cases, there is an increased level of security.
It is important to research the value of homes currently on the market. The current asking price of a home does not mean that a property is ‘worth’ that amount to you — market conditions and what a buyer is willing to pay for a property affect the true value of the home at any moment in time.
When deciding the value of any property, the following criteria should be considered:
• Location of the Property
• Condition of the property
• Buyer Demand
• Recent Sales of Comparable Properties
• Availability of Financing
The following questions will put you in an excellent position to research your housing and mortgage options, allowing you to create a clear action plan and timeline for moving forward.
• What are your essential “must-haves” in a home?
• List your top five must-haves.
• What are your preferred “nice-to-haves” in a home?
• List your top five nice-to-haves.
• Do you prefer a move-in-ready home, or are you open to renovating?
• Have you been pre-approved for a mortgage?
• What is your comfortable monthly budget?
• When would be the ideal time for you to move?
1. What are the most popular mortgages you offer? Why are they so popular?
2. What fees are included in a loan; and what fees will be due at closing?
3. Are your rates, terms, fees and closing costs negotiable?
4. Do you offer discounts for inspections, homeownership classes or setting up automatic payments?
5. Will I have to buy private mortgage insurance (PMI)? If so, how much will it cost and how long will it be required?
6. What are your escrow requirements?
7. What bill-pay options do you offer?
8. What would be included in my mortgage payment (homeowners insurance, property taxes, etc.)?
9. Which type of mortgage plan would you recommend for my situation?
10. Who will service this loan-your bank or another company?
11. How long will the rate on this loan be locked- in? Will I be able to obtain a lower rate if the market rate drops during the lock-in period?
12. How long will the loan approval process take?
13. How long will it take to close the loan?
14. Are there any charges or penalties for prepaying this loan?
15. How much in total will I be paying over the life of this loan? Sources: National Association of Realtors®, downpaymentresource.com
No matter your experience or reasons for buying, getting pre-qualified for a loan is a smart first step in your home search.
Pre-qualification clarifies your budget, current rates, and any potential hurdles, so you’re fully prepared when you’re ready to make an offer.
Pre-approval involves meeting with a lender who reviews your financial situation and credit history to determine how much you can borrow and at what rate. Working with a local lender is often beneficial — they’re accessible, knowledgeable, and available to answer questions, even on weekends.
• Know Your Budget: Pre-qualification helps you understand what you can afford, setting a clear budget for monthly payments and total lending limits.
• Stronger Offers: Being a qualified buyer shows sellers you’re serious, making your offers more competitive.
• Peace of Mind: Knowing your financing upfront lets you focus on finding the perfect home without the stress of unexpected surprises, making the entire process smoother and more enjoyable.
Starting your home search with a clear budget and financing plan allows you to focus on finding the right home, knowing you’re financially ready.
97% of all buyers start their home search online, spending an average of 12 weeks researching options they believe fit their budget.
I’ll help you refine your search by reviewing your ‘must-haves’ and ‘nice-to-haves,’ making personalized recommendations based on insights gathered during our consultation. As your REALTOR®, I offer the following resources to ensure you find the perfect home:
• Access to preview new properties through Broker Open Houses
• Technology that sends you new listings matching your criteria, so you’re always up to date
• A strong network for discovering properties not yet listed on the market
• Insight into every home in your preferred area, including “for sale by owner” listings, discounted brokerages, expired listings, and off-market properties that fit your needs
• I connect with local agents to uncover exclusive opportunities that may meet your specific needs, often giving you a first look at properties before they hit the market
In the hunt for a perfect home, it’s easy to get distracted or become overwhelmed by all the choices of homes you have visited.
Make a comparison chart:
Square footage
General size of rooms and layout
Kitchen style and appliances
Bedrooms/Bathrooms/Ensuites
Garage space(s)
Backyard
Landscaping
Condition of roof/exterior
Storage space
Natural light
How long has the house been on the market?
Is it priced to sell?
Compare its price to others recently sold
What is the resale potential?
Do you feel an emotional connection to the home?
Do a second walk-through without emotion and look beyond the surface:
Will your furniture fit?
Floor plans are a great way to see the flow and how changes can be made. Not available? Measure and draw your own
Review the true storage space – open cupboards, doors, attics, and cabinets
Check every detail from floor to ceiling, including window trims, under sinks, bathroom tiles, flooring, etc.
Look outside at the landscaping and layout of nearby homes, traffic, parking, noise, etc.
View the property at different times of the day
Envision how you would use the space and assess if it fits your everyday needs
Who are the neighbors?
When you have found the right home, it is time to prepare and draft an offer for purchase. This offer is designed to protect and represent your interests and becomes legally binding upon final acceptance. I’ll guide you through each part of the offer, ensuring you feel comfortable with every step of the process.
An offer can be made with or without conditions. A contingent-free (or firm) offer has no conditions, while a conditional offer includes specific terms to protect one party in the transaction.
• Condition of the Home
• Time on the Market
• Buyer Interest and Activity
• Location
• Seller's Urgency
The seller may accept, reject, or counter your initial offer. A counteroffer may differ in terms of price, conditions, closing date, or other details. Negotiations can continue with counteroffers until both parties agree or decide to end discussions.
• Mortgage approval
• Seller pays a fixed percentage or dollar fee towards closing costs
• Seller pays towards specific closing fees — Title Search or Transfer Tax
• Full access and inspection by a certified inspector
• Electrical, water, heating, roofing, and pest should all be investigated thoroughly
• Costs paid by seller for any repairs over a specific amount
• Certain repairs to be completed and approved before purchase
• Typically dated to give you and the seller the time required to complete the purchase transaction
• Related to the sale of your present property or the remaining term of your rental lease
• Subject to the seller’s flexibility to move
• Most mortgage companies require home insurance prior to approval
• Ensure the Property Title is in the name of the seller/seller’s trust
• Free from any claims against it, either liens or ownership
• If there is any ‘right of use’ on the property
Once both you and the seller agree to the sales contract and its conditions (or “contingencies”), the next step is to work on meeting those conditions. I’ll guide you through which contingencies can be safely removed as we complete the necessary due diligence, like inspections or appraisals.
Each contingency will have a specified timeline for resolution. If any issues cannot be resolved by the deadline, it does not necessarily mean the deal is terminated. I will collaborate with the seller’s agent to identify a solution that benefits both parties.
Should challenges arise during the process, such as concerns identified during a home inspection, we may request an extension to allow the seller sufficient time to address them. Drawing on my expertise, I will guide you on the most effective course of action.
Origination Fee - Payment to lender to evaluate your credit and underwrite and process loan.
Discount Points - Paid to lender at closing to reduce interest rate over life of mortgage.
PMI or Mortgage Insurance - Required if down payment is less than 20%. Protects lender if you default.
Appraisal Fee - Paid to appraiser to confirm home's fair market value.
Title Search - Covers cost to confirm seller owns property, and it is free from liens.
Title Insurance - Protects lender and (optionally) you if title claim surfaces later.
Termite Inspection Fee - Inspection required to certify home is free of termite damage.
Survey Fee - Charge to verify property boundaries.
Flood Certification Fee - Covers cost to determine if home is in federally designated flood zone. If it is, lender will require you to purchase flood insurance. Some lenders also charge a separate flood monitoring fee to check for flood map updates.
Closing or Settlement Fee - Paid to title company, attorney, or escrow company that conducts closing.
Recording Fee - Paid to state to record transfer of property from one owner to another.
Transfer Tax - Paid to the state, based on the amount of the mortgage.
Prepaid Interest - Covers mortgage interest due between date of closing and first mortgage payment.
Prorated Property Tax - Covers property taxes from date of closing to end of tax year.
Homeowners' Insurance - Typically, you'll pay the full first-year cost upfront at closing.
Homeowner's Association Transfer Fee - Paid on properties governed by associations to transfer ownership documents to you.
Initial Escrow - The initial escrow sets up a reserve for future insurance and tax payments, separate from the closing escrow payment.
Sources: bankrate.com, consumerfinance.gov
After all contingencies are removed, the legal and financial teams handle the final paperwork. If any issues arise, I'll keep you informed.
You'll sign the necessary documents, including those for your mortgage and the property transfer. Representatives from the escrow company or a lawyer will be there to guide you through the process.
Once closing is complete, you'll receive:
• The keys to your new home
• Important documents, like a statement of costs, mortgage terms, mortgage note, and a copy of the deed of trust
The deed will be recorded at the county clerk’s office and sent to you once processed.
TIP:
Be available on the morning of closing to schedule your final walkthrough. Aim to complete the closing before 1 PM to ensure you receive the keys to your new home on the same day.
Give yourself plenty of time to review options, compare services, and make a decision based on quality and value (like low-stress moving and insurance protection).
Make sure each mover has insurance, including general liability, automobile, cargo, and workers' compensation. You can ask for a certificate of insurance as proof.
Confirm that your chosen moving company is licensed by the Florida Department of Agriculture and Consumer Services at floridaconsumerhelp.com.
Request in-person or virtual estimates from multiple movers. Each estimate should include:
• Mover’s contact details, including registration number
• Dates for the estimate and planned move
• Pickup and delivery addresses
• Details of storage locations, if needed
• A detailed list of costs and services provided
• Accepted payment methods
Determine if you're working with a moving company or a broker. Brokers charge a fee to arrange the move and may sell your move to another company, potentially affecting your costs and service.
Review your homeowners or renters insurance for coverage during the move.
Source: Florida Realtors®
Just because you qualify doesn’t mean the monthly payments (plus ongoing costs) will comfortably fit your budget.
Loving the house isn’t enough if the location doesn’t work for your lifestyle and future plans.
Pre-qualifying gives you a clear budget and strengthens your offers.
Look for a mortgage that matches your specific needs, not just the first option available.
Understand all mortgage terms, like interest rates, contract length, and mortgage type, before choosing.
Buying a new home before selling your current one can add financial stress.
Be aware of all the costs involved in home buying, not just the sale price.
Rely on professionals like a Realtor, mortgage advisor, home inspector, lawyer, and movers to guide you through each step.
Avoiding these common pitfalls can make your home-buying experience smoother and more successful.
WHEN IS THE BEST TIME TO BUY?
When you have found the right home with the right price. Don’t wait for perfect conditions to buy — they don’t exist.
WHEN IS THE BEST TIME TO GET A MORTGAGE?
Getting pre-qualified before you start searching — this will help immensely and prevent disappointment.
HOW DO I CHOOSE A REALTOR ® ?
Think of the process as equivalent to giving a job interview. Do they know the local market? Price points? Types of homes? Check reviews!
HOW DO I FIND THE PERFECT HOME?
Prioritizing and compromising are necessary elements. Compile a list of ‘must haves’ and a list of ‘would-likes’ — you will never find the right home otherwise.
HOW DO I KNOW WHEN IT’S RIGHT TO PRESENT AN OFFER?
Don’t be afraid to write an offer — there’s no commitment until all contingencies are removed. Consult your REALTOR® to present the best terms and price, ensuring your offer is both competitive and aligned with your goals.
CAN I GET OUT OF A DEAL IF I DECIDE IT ISN’T RIGHT FOR ME?
Maybe — consult your REALTOR®
WHAT DO I DO IF I GET BUYER’S REMORSE?
It is normal and will pass if the situation is right.
When buying a home, it’s important to understand some of the key concepts and terms. Throughout the purchase process, your REALTOR® will be available to explain any unfamiliar terms you encounter. That said, here is a short list of terms you’ll want to know:
Abstract Of Title – A complete historical summary of the public records relating to the legal ownership of a particular property from the time of the first transfer to the present.
Adjustable Rate Mortgage (ARM) – Also known as a variable-rate loan, an ARM is one in which the interest rate changes over time.
Agreement of Sale – Also known as contract of purchase, purchase agreement, or sales agreement according to location or jurisdiction. A contract in which a seller and buyer agree to transact under certain terms, spelled out in writing and signed by both parties.
Amortization – The process of reducing the principal debt through a schedule of fixed payments at regular intervals of time, with an interest rate specified in a loan document.
Appraisal – An appraiser’s estimate of the market value of a property based on local market data and the recent sale prices of similar properties.
Assessed Value – The value placed on a home by municipal assessors for the purposes of determining property taxes.
Closing – The final steps in the transfer of property ownership. On the closing date, as specified by the sales agreement, the buyer inspects and signs all
the documents relating to the transaction and the final disbursements are paid. Also referred to as the Settlement.
Closing Costs – The costs to complete a real estate transaction in addition to the price of the home, may include: points, taxes, title insurance, appraisal fees, and legal fees.
Closing Date – This is usually the date that the legal ownership of the property transfers from the seller to the buyer.
Conditions or Subjects – Items that are usually put in place to protect a party’s interests upon selling or buying the property and refer to things that must occur or be in place before the sale closes. Some of these conditions could be “subject to financing approval,” “subject to the buyer’s house selling,” “subject to seller finding suitable housing,” etc.
Contingency – A clause in the purchase contract that describes certain conditions that must be met and agreed upon by both buyer and seller before the contract is binding.
Counter Offer – An offer, made in response to a previous offer, that rejects all or part of it, while enabling negotiations to continue towards a mutually-acceptable sales contract. Conventional Mortgage – One that is not insured or guaranteed by the federal government.
Debt-to-Income Ratio – A ratio that measures total debt burden. It is calculated by dividing gross monthly debt repayments, including mortgages, by gross monthly income.
Deposit – The amount of money provided from the buyer to the seller as a token of the buyer’s assurance and intention to buy the property involved. The deposit is applied against the purchase price of the home once the sale has closed. Your agent can assist you in proposing a certain and appropriate amount for the deposit.
Disclosures – Disclosure statements, which can come in a variety of forms, are the buyer’s opportunity to learn as much as they can about the property. Seller disclosures are based on seller’s knowledge of issues. They to serve to inform buyers; they can protect the sellers from future legal action. It is the seller’s chance to lay out anything that can negatively affect the value, usefulness, or enjoyment of the property.
Down Payment – The money paid by the buyer to the lender at the time of the closing. The amount is the difference between the sales price and the mortgage loan. Requirements vary by loan type. Down payments less than 20% usually require mortgage insurance.
Earnest Money – A deposit given by the buyer to bind a purchase offer and which is held in escrow.
If the property sale is closed, the deposit is applied to the purchase price. If the buyer does not fulfill all contract obligations, the deposit may be forfeited.
Equity – The value of the property, less the loan balance and any outstanding liens or other debts against the property.
Easements – Legal right of access to use a property by individuals or groups for specific purposes. Easements may affect property values and are sometimes part of the deed.
Escrow – Funds held by a neutral third party (the escrow agent) until conditions of a contract are met and the funds can be paid out. Escrow accounts are also used by loan services to pay property taxes and homeowner’s insurance.
Fixed-Rate Mortgage – A type of mortgage loan in which the interest rate does not change during the entire term of the loan.
Home Inspection – Professional inspection of a home, paid for by the buyer, to evaluate the quality and safety of its plumbing, heating, wiring, appliances, roof, foundation, etc.
Home Warranty - Service contract that covers the repair or replacement of home system components and appliances that break down.
Homeowner’s Insurance – A policy that protects you and the lender from natural disasters and liabilities, such as a visitor injury, or damage to your personal property.
Inclusions and Exclusions – Specifications within the offer that detail the items to be included or excluded from the purchase of the property. Typical inclusions are appliances, window coverings, fixtures, and decorative pieces.
Lien – A claim or charge on property for payment
of a debt. With a mortgage, the lender has the right to take the Title to your property if you don’t make the mortgage payments.
Market Value – The amount a buyer would pay a seller for a home. An appraised value is an estimate of the current fair market value.
Mortgage Insurance – Purchased by the buyer to protect the lender in the event of default (typically for loans with less than 20% down). Available through a government agency like the Federal Housing Administration (FHA) or through private mortgage insurers (PMI).
Possession and Adjustment Dates – When the buyer takes possession as specified in contract of purchase and adjustments are made for prepaid taxes, maintenance fees, etc. They are usually the same date.
Possession Date – The date, as specified by the sales agreement, that the buyer can move into the property. Generally, it occurs within a couple days of the Closing Date.
Pre-Approval Letter – A letter from a mortgage lender indicating that a buyer qualifies for a mortgage of a specific amount. It also shows a home seller that you’re a serious buyer.
Principal – The amount of money borrowed from a lender to buy a home or the amount of the loan that has not yet been repaid. Does not include the interest paid to borrow.
Purchase Contract – A detailed written document that makes an offer to purchase a property, and may be amended several times in the process of negotiations. When signed by all parties involved in the sale, the Purchase Offer becomes a legally binding sales agreement.*
Purchase Price – The amount that the buyer is offering to pay for the property, dependent on market conditions and may differ from the seller’s current asking price. There is no “normal” amount or percentage that a price will differ from its asking price, as the final price will be determined by many factors, including the seller’s motivation and how close the asking price is to actual “market value.”
Terms – An offer includes certain “terms,” which specify the total price offered and how the financing will be arranged, such as if you will arrange your own with a financial institution or mortgage broker or if you wish to take over the seller’s mortgage (assumability).
Title – The right to, and the ownership of, property. A Title or Deed is sometimes used as proof of ownership of land. Clear title refers to a title that has no legal defects.
Title Insurance – Insurance policy that guarantees the accuracy of the title search and protects lenders and homeowners against legal problems with the title.
Truth-In-Lending Act (TILA) – Federal law that requires disclosure of a Truth-In-Lending statement for consumer loans. The statement includes a summary of the total cost of credit.
Title Search – A historical review of all legal documents relating to ownership of a property to determine if there have been any flaws in prior transfers of ownership or if there are any claims or encumbrances on the title to the property.
*The Purchase Offer and contract procedures vary by region.
We would like to thank you for the opportunity to represent you. Our goal and commitment is to make the home-buying process as seamless as possible. No matter your real estate needs, know that we are always here to assist you—not just as a service, but as part of a lasting relationship.
- Alexander Haigh
772.291.6760 | Communication@TheHaighGroup.com | TheHaighGroup.com