Buyers

There are so many aspects involved in the purchase of a home that buyers can often feel confused by the whole process. That's why it is essential to have a real estate professional who can take you through each step and answer whatever questions you may have. At The Pannell/Malina Group, we make sure buyers are comfortable with the experience and fully aware of their options. We've provided the basic steps of home buying below, but you're encouraged to Contact Us for a more detailed explanation of the home buying process.

Step 1: Understanding Your Needs

Your first step toward buying your new home will be to analyze your needs. We can help you determine exactly what you want your new home to look like and what it should provide for your family. First, write down why you are looking for a new home. Second, establish a time frame for buying your home. Lastly, determine what your home should look like, taking into account what would be ideal, and what must be included. This list will change as the buying process gets closer to completion.

Step 2: Pre-Approval Vs. Pre-Qualification

This step involves determining what you can afford, and can be approached in two ways: prequalification or pre-approval for a loan. Either way, you can Contact one of us at The Pannell/Malina Group about choosing a mortgage company. Prequalification is simple and can be done online or over the phone. When you contact a mortgage company, they will ask you for some basic information about your finances. This data will be used to provide you with a rough estimate of the size of the loan you might qualify for.

Pre-approval is more extensive. The mortgage lender will perform an extensive check of your finances including your credit rating, whether or not you're a first-time buyer, what your debt load is, how much money you have to put as a down payment, etc. This figure will be a much more reliable and concrete estimate of what you can afford.

Pre-approved buyers are usually preferred over pre-qualified buyers. Being pre-approved lets the seller know you have gone through an extensive financial background check and that there shouldn't be any unexpected obstacles during the buying process.

Get a head start on the mortgage process by using our Mortgage Calculator.

Step 3: Gathering Neighborhood Information

Once your list of needs and wants is taken care of, and you know how much you can afford to spend, it's time to look at some Neighborhood Information. Before you buy a new home, it's important to know the surrounding neighborhoods and communities. Our neighborhood information page provides you with everything you need to know about the area that your prospective home is located in. Get familiar with the new city, and determine if it fits your needs.

Step 4: Home Search

Once you determine the type of area you would like to invest in, you can now begin looking at homes. There are a few ways to go about this. Possibly the most efficient way to find homes is to allow The Pannell/Malina Group to keep you up-to-date on available properties that meet your needs, and then allow us to screen them for you. When we present you with a home that interests you, we can arrange for you to tour it at your convenience.

You can find homes by reading local real estate publications, contacting local Neighborhood Associations, visiting the local Chamber of Commerce, looking on the Internet, or driving through neighborhoods that meet your needs. While you're here, check out our Featured Listings and Property Search pages to get started on your new home search.

Step 5: Making an Offer

Now that you've found your dream home, it's time to make an offer. We can help you determine the offer price by reviewing recent sales of homes that are similar in size, quality, conveniences and amenities. We will help you create an offer that will have the best chance of being accepted.

We at The Pannell/Malina Group will create a written contract with your offer that meets all the local and national legal requirements. This document explains what is required by both parties to execute the transaction. It should protect the interests of both parties and will ensure your financial position as the buyer.

Remember the legalities of this phase are very important. If you have any questions or concerns, be certain to address them with us right away.

Step 6: Negotiation

Once your offer is made you may need to negotiate with the seller to reach an agreement. Keep in mind almost everything is negotiable when you are buying a house. Knowledge and use of necessary information can give you a great deal of leverage in the buying process. You can negotiate things such as price, closing costs, repairs, and appliances, to name a few.

Counter offers happen frequently. Remain in close Contact with The Pannell/Malina Group so you can accurately review any changes from the seller. Purchasing a home is a business process that involves compromise and mutual respect.

Step 7: Service Provider Coordination

After your offer is accepted, we will help you coordinate the activities of service providers. We will make sure these vendors have access to the property, and we will oversee the execution of those procedures on your behalf.

Items that need to be addressed include:

• Home examination
• Insurance
• Home warranty

Addressing these items in a timely and professional manner is a must. We will help you investigate each service provider to make sure they are reputable and have a clean operational history.

After escrow is taken care of, it's time to close on your new home. This usually involves a formal meeting that both parties will attend. Closing procedures are usually held at the title company's or lawyer's office. Your closing officer coordinates the document signing and the collection and disbursement of funds. In order for the closing to go smoothly, each party involved should bring the necessary documentation and be prepared to pay any related fees.

Sellers sometimes pay for a portion of, or all of, the closing costs. This depends on local market conditions, terms of the contract, and timing. These concessions should be acknowledged in writing. Most lenders will allow a credit from the seller to the buyer for the non-recurring closing costs. But, this process can be complicated, so Contact The Pannell/Malina Group for assistance.

Once the closing process has been completed, it's time to move in to your new home! Utilities must be set up, as well as other move-in necessities. At The Pannell/Malina Group, we can help with these tasks, so feel free to Contact Us even after you move in.

Sellers

The selling process can often be as complicated as the buying process. You want to make sure you get the most money for your home, and that the process is done legally and efficiently. That's why it is essential to have a real estate professional who can take you through each step and answer whatever questions you may have. At The Pannell/Malina Group, we make sure sellers are marketing their home correctly. We've provided the basic steps of home selling below, but you're encouraged to Contact Us for a more detailed explanation of the entire process. Listed below are the basic steps involved in selling a home.

Step 1: Designing a Marketing Plan

The first step involves making your home stand out among the rest. This includes listing your home in as many avenues as possible, including internet, newspaper, etc. The Pannell/Malina Group knows this process well, and can help maximize selling potential in the shortest possible time.

Step 2: Determining a Price

To figure out the best price for your home, you must evaluate the competition and study marketplace trends. The Pannell/Malina Group is trained in this area, and will know the most up-to-date information on homes for sale in your community. Contact Us today, in order to determine a reasonable asking price for your home.

Step 3: Showing Your Home

Before you show your home, it's important to make sure that everything is in great condition and as clean as possible. Make sure to ask us about the specifics, because some areas often get overlooked. Purchasing a home protection plan is a great way to avoid repair and replacement costs during the listing period. Also, Contact Us to learn about federal, state, and local disclosure laws.

Step 4: Protecting Yourself

You always want to make yourself safe in the home-selling process, so remember these tips:

• Hide valuables
• Ask for I. D.
• Don't allow children to open doors for strangers…remember, “For Sale” signs come with responsibility
• Control your pets
• Discuss additional safety measures with your realtor

Step 5: Making the Deal