The home buying process

The Home Buying Process

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Buyer's Guide

Buyer’s Guide

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Understanding 'Buyer Agency'

Understanding ‘Buyer Agency’

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Obtaining Financing

Obtaining Financing

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The Home Buying Process

Diagram of home buying process

Buyer’s Guide

Your understanding of the purchasing process is invaluable and deserves your special attention. For your benefit, it is essential that your First Weber agent ask questions to understand your needs, wants, and ability to purchase.

Showing process

Your First Weber Agent will assist you in selecting homes for viewing in accordance with your needs. Please feel free to inspect all aspects of a home during the showing and make notes regarding each home.

Communication during showings

Feedback is essential. Specific comments help your First Weber Agent determine exactly what you’re looking for and should result in finding a suitable home and making an offer.

The offer

After an offer is written, your First Weber Agent will contact the listing agent who will present your offer to the sellers.

The sellers have the following alternatives:

  • Accept the offer
  • Reject the offer
  • Write a counter offer (Should a counter offer be written, your First Weber Agent will then discuss whether it is in your best interest to accept, reject, or counter back.)

Once the offer is accepted, your First Weber Agent will notify you immediately.

Mortgage application

It is extremely important that you apply for a loan immediately after your offer is accepted. Your First Weber Agent can recommend several lenders for you to contact. The lender may require a loan application fee to be used toward a credit check, appraisal, etc.

Processing your loan

In order to speed the process along, have your bank account and credit card numbers available as these will need to be verified by your lender. Your First Weber Agent will check with your lender throughout the processing of your loan to ensure things are progressing smoothly.

Time and place of closing

Once your loan is approved, the time and place for closing, as agreed upon in the offer, will be scheduled.

Prior to closing

  • Have all utilities transferred to your name as of the date of closing. Notify post office and telephone company of your address change.
  • You will have the opportunity to make a final inspection of the property.
  • A one year Home Warranty Plan will be made available for purchase by you if it was not part of your offer to purchase.
  • Your lender may require you to obtain a homeowner’s insurance policy and have a paid receipt to begin coverage on your new home at closing.
  • Obtain a certified check for the exact amount of money to be paid at closing. This figure will be made available to you prior to closing.

Understanding ‘Buyer Agency’

Wisconsin Agency Law Provides for Different Types of Relationships Between Buyer and REALTOR®

The Traditional Buying Process

In the traditional buying process, a real estate agent working with a buyer without a Buyer Agency contract is, by law, working as an agent of the seller. An agent working without a Buyer Agency contract must still be fair in his/her dealings, but is prohibited by law from giving the buyer critical advice such as a professional opinion of a price or in suggesting negotiation strategies.

Buyer Representation

Buyer Representation (Buyer Agency) was created in response to buyers’ desires to have agents work in their best interests as opposed to the sellers’ best interests. First Weber was one of the first brokerages to embrace buyer agency and First Weber agents are encouraged to work as Buyer Agents for buyers if at all possible.

Designated Agency

With Designated Agency, a buyer under Buyer Agency with a broker continues to receive full client services even when purchasing a property listed with another agent in the same brokerage. First Weber Group, as a full service broker to both buyers and sellers, offers Designated Agency to better serve both buyers and sellers.

The benefits of Buyer Representation

Services provided: Buyer Representation Traditional Buying Process
• Express a professional opinion of the seller’s asking price, based on a Comparative Market Analysis prepared for YOU Buyer Representation: YES Traditional Buying Process: NO
• Recommend and assist YOU with negotiation strategies for best price and terms Buyer Representation: YES Traditional Buying Process: NO
• Negotiate exclusively on YOUR behalf throughout the transaction Buyer Representation: YES Traditional Buying Process: NO
• Critique a seller’s property beyond disclosing defects Buyer Representation: YES Traditional Buying Process: NO
• Advise on, write the offer, and draft provisions in YOUR best interests Buyer Representation: YES Traditional Buying Process: NO
• Protect your confidentiality Buyer Representation: YES Traditional Buying Process: YES
• Treat you honestly and fairly Buyer Representation: YES Traditional Buying Process: YES
• Respond honestly and accurately to questions concerning the property Buyer Representation: YES Traditional Buying Process: YES
• Provide community data and current market conditions Buyer Representation: YES Traditional Buying Process: YES
• Present contract proposals in an objective and unbiased manner Buyer Representation: YES Traditional Buying Process: YES
• Accompany you to the closing and assist you throughout the process Buyer Representation: YES Traditional Buying Process: YES
• Disclose “adverse material facts” about the property Buyer Representation: YES Traditional Buying Process: YES

Obtaining Financing

How can we help you?

At Prosperity Home Mortgage, LLC, we strive to create an extraordinary experience through the efforts of knowledgeable and caring mortgage professionals where relationships are valued, and the focus is on treating every client as if they were the only client.

97% of our clients say they had a great experience working with us.
4.89 out of 5 stars: our average client rating.
Rated Top 100 Mortgage Companies in America – 2017.

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