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Burley Home Buying Process

The Steps:

  1. Find a Realtor you can trust:

    Westerra believes that it is essential that you select a real estate professional when considering your real estate purchase. This person must make you feel comfortable with their level of experience and knowledge. Simply put, you must be able to confide in this personal and trust that they truly have your best interest at heart.

  2. Outline area, expectations, and needs vs. wants:

    Sit down together to outline everyone’s expectations. There can be a lot to look at and it’s helpful to familiarize yourself with the different areas and communities. After all, your time is valuable and we don’t want to waste it showing you properties that don’t fit your criteria.

    1. Agency and representation:

      It’s time to go over the role of a Buyer’s Agent, and its benefit to you. A Buyer’s Agent acts solely on behalf of the buyer and owes duties to the buyer which includes good faith, loyalty and confidentiality. A Buyer’s Agent will negotiate on behalf of, and act as an advocate for you. The buyer is legally responsible for the actions of the agent when the agent is acting within the scope of agency. The agent must disclose to the sellers all adverse material facts concerning the buyer’s financial ability to perform the terms of the transaction and whether the buyer intends to occupy the property. A separate written buyer’s agreement is required which sets forth the duties and obligations of the parties.

    2. View the Idaho Agency Brochure

       

  3. Lender pre-approval:

    Before you are ready to make an offer on a property, a pre-approval letter from a lender is necessary for two reasons. One, it will give you an idea of what you can afford. And number two, when you are ready to make the offer, a pre-approval letter is necessary to accompany the purchase and sale agreement.

    1. Need help with pre-approval:

      Westerra Real Estate Group works with a large network of great lenders in the area. We can help you get pre-approved.

  4. Looking for a home:

    It’s time to look at homes. As agents we are here to help you find your new home anytime; including evenings and weekends. You won’t have to spend your valuable time driving around and surfing the web for the perfect property because we’re doing it for you. Westerra has a large network of inventory available; including for sale by owner listings. We want to make sure that we’re only showing you the properties that meet your specific needs. And most importantly, we’re only going to show you homes in your price range.

  5. Make the offer:

    When you find the right home, it’s time to make the offer. There shouldn’t be any surprises here because we have done all the required research. Before we submit the offer, we want to make sure that the home you are interested in is priced right. A comparative market analysis will help determine how the asking price compares to other properties that have recently sold. In addition to sales data, we pay close attention to days on market and the average cost per square foot of the properties that have recently sold. We are experienced negotiators and will work hard to ensure you are getting the best deal possible. We will present all of the data objectively and will point out advantages and disadvantages to help you make a decision you can feel good about.

  6. The contract:

    When the Seller accepts your offer, it is considered “under contract.” It is our job to make sure the transaction is handled smoothly and your home closes the right way and on time.

    1. Role of the Title Company:

      Both the Buyer and the Seller depend on the title company to carry out the instructions in the Purchase and Sale Agreement and to advise either party if anything in the contract is inconsistent or can’t be carried out.

    2. Inspections:

      Final details are handled and inspections and tests are performed to ensure everything is in good condition and in working order. If something negative turns up during the inspection period, this is your opportunity to ask the Seller to address the issue. If everything looks okay and there’s nothing else to negotiate, we head to closing.

  7. Closing:

    The closing is usually always carried out at the title company. Here you review the terms and costs of your purchase and sign all of the related documents. Once the buyer and seller have signed the related documents, it is time for recording. In other words the property deed is recorded and the home is officially yours. After recording, your keys will be delivered and you can begin the fun part, moving!

  8. Moving:

    Shortly after closing, you will want to remember to contact the utility, and phone companies to make sure they have been transferred out of the Seller’s names and into your name. Most importantly, you will want to make sure that the utilities are on! Don’t forget to complete your change of address form with the post office. Keep in mind that the post office will forward your mail for 30 days but they do expect that you are sending notices to everyone that is sending you mail: Friends and relatives, magazines and mail order subscriptions, professional organizations, creditors, DMV, voter registration officials, and the IRS.

    If you have animals, it’s important to consult with a professional if you are transporting them much farther than they have safely traveled in the past. Keep detailed records! Some moving expenses may be tax deductible. Please contact a licensed professional or the IRS for tax related questions. For additional moving and or relocation information, please visit our Relocation section.

  9. What now:

    Enjoy your new home! Even if you’ve lived in Burley for a long time or are new to the area, please check out our area/community page for a list of exciting events, places to go, and things to see, etc…