For Buyers

• We know the local market and can quickly narrow down a few areas where you are likely to find your home at the price you want.
• We will make appointments, preview homes with you and help you determine the pros and cons of each home.
• We have access to our listing database that provides access to thousands of homes for sale in addition to the Reayel widget.
• We can provide information and make appointments to see any property listed for sale. A home does not have to be listed by an Avado agent in order to get detailed information or an appointment to view.
• We can save you time by doing a lot of the legwork. By knowing your needs, we can eliminate homes that do not meet your criteria.
• Once you find the home you want to buy, we will guide you through the negotiation, legalities and details of purchasing a home.

Congratulations! At Avado Realty, we'll guide you through the home buying process and exclusively represent your best interests as we help you 

1) locate your new home, 

2) present your contract offer, 

3) negotiate on your behalf, 

4) close on your purchase, and 

5) provide a host of client services to assist with your move. 

When we take care of the details that go along with the successful closing of real estate transactions, we allow you the opportunity to devote more time to learn the ropes of your new position. And here's the cool part, all of these professional services are made available at absolutely NO COST TO YOU! Avado's fees are collected from the listing broker at the time of closing on your new home.

Beginning The Process 

Organization is the key to finding the home you want while spending the least amount of time and energy.

Find out how much house you can afford. Do this before you go house-hunting. We can refer you to a loan officer who can help you determine how much of a down payment you can afford, along with a monthly payment you qualify for.

Make a list of everything you want in a home. Is a master suite important? How many bathrooms? What about closet space? Do you need a yard for the kids and pets to play in? How about a fireplace or a bay window? Do you prefer a rambler or multiple-story house? Are schools or access to transportation important?

Separate the essentials from the items you could do without and put them on the "A" list. Prioritize the rest of the items into a second and third list in order of importance. We'll then go over the list so that I'm very clear on what you want and need in your home.

Keep good notes as we look at homes. After a while, it becomes difficult to remember which features belong to what home. Some buyers make audio tapes as they go along.

When selecting a home, look beyond cosmetics. Make sure the home is in good physical condition and that you understand the cost of repairs. For more information on how to assess the home's condition, refer to the Home Inspection information on this website.

Look at additional homes, even if you love the first one you see. Many times, it takes looking at several homes before you find the one that is really right for you.

We will check with you regularly, even if you haven't found a house that suits your needs. Keeping in contact with you allows us to establish a good rapport, and helps me to learn how to help you effectively. We will continue to be on the lookout for homes that suit your needs.

Applying for a loan and obtaining approval on your financing before you find your home pays big dividends. Pre-approval will help you in the following ways:

1. You will know what your buying power is upfront and not waste valuable time considering homes you cannot afford.
2. Sellers may choose to make concessions if they know your financing is secured.
3. You can select the best loan packages without being under pressure.

How Much Can I Afford?

Before you start looking at homes, it's a good idea to find a target price range that you can afford. A mortgage lender will want to make sure you can qualify for the down payment, plus a monthly mortgage payment made up of principal, interest, taxes and insurance (PITI).

Interest rates and your personal finances will influence the amount of house you can afford. For a quick estimate of a monthly mortgage payment for which you may qualify, or to see what a how much of a home you might be able to afford, use our mortgage calculator section. But remember, it's always good to talk to a lender before you start shopping for a home. we can refer you to lenders suited to your specific financial needs

How much home you can afford is based on three key factors:

1. The down payment, which may range from 3% to 20% of the purchase price, depending on the type and terms of the loan.
2. Your ability to qualify for a mortgage. Most lenders require your monthly payment range be between 25-28% of your gross monthly income. Your monthly payment includes principle, interest, property taxes and homeowner's insurance (PITI). Your total monthly PITI and all debts should not exceed 38% of your gross monthly income. Remember, the key factors that determine your ability to secure a home loan: credit report, assets and income.
3. Closing costs associated with your transaction. These fees must be paid in full at the time of closing, unless you are able to include them in your financing. Typically, total closing costs will range between 2-5% of your mortgage loan. For a list of our local preferred lenders, go to the Resources page on our website.

Once you've secured your financing pre-approval status, Avado Real Estate will set up your own private property website. This website will automatically email you anytime new properties become available that meet the search criteria we've entered into the multiple listing service system. Because our system is in real time, you'll benefit from immediate notification when the right home becomes available on the market for the first time. Once you slect properties properties online, we'll be in a position to look as homes together. Avado Realty will arrange for property tours as well as provide an in-depth knowledge of the neighborhoods and area amenities in which those homes are located.

Once we've identified your home, Avado Real Estate will assist you with writing an offer to purchase as well as negotiate and counteroffer until both parties reach an agreement to terms. We consider this a critical step in the process and directly correlate successful negotiations with market knowledge. We accomplish this with each of our clients by reviewing a comparative market analysis of the home you want to purchase so that we can understand the fair market value of the property being considered and achieve the best outcome possible.

Purchase and Sale Agreement

Once you've found the home you want to buy, together we'll complete a purchase and sale agreement. This is the contract in which you and the buyer outline the details of your property transfer. The purchase and sale agreement usually consists of the following pages:

• Earnest money receipt.
• Financing addendum.
• Inspection addendum.
• Conditions/disclosure addendum.
• Contingency addendum-when appropriate.
• Addendum outlining special conditions.
• Lead-based paint notification-when appropriate.

In many areas, the following forms will also be a required part of your agreement:

• Agency disclosure.
• Property disclosure form completed by the property seller.

Once under contract, we'll guide you through the remainder of the buying process. Here, conducting home inspections, scheduling survey work, reviewing title commitments, and obtaining final loan approvals are just a few of the important steps required to complete your purchase and begin to realize the benefits of homeownership.

What Are Closing Costs?
Closing costs are charges paid to various entities during the real estate transaction. They can include escrow fees, document preparation fees, cost of an inspection and lender fees.

What Is A Point?
A point is equal to one percent of the loan principal. Some lenders charge points, in addition to interest and fees, at closing.

What Is Title Insurance?
Title insurance protects against loss from any defects in the legal title, liens against the property or other adverse claims. The lender usually requires title insurance.

Home Inspections

When you're ready to complete a purchase and sale agreement on a home, your offer will generally be contingent on a professional inspection of the entire property, including improvements. The home inspector looks beyond the cosmetics to make sure that the home's general systems operate properly. The inspector will also look for large repairs that are needed and report on the condition of the home.

The standard home inspector's report will review the conditions of the home's heating and cooling system, interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; foundation, basement and visible structure. The inspector will also look for cracks in cement walls, water stains that indicate leakage and any indication of wood rot.

A home inspection also points out the positive aspects of a home, as well as the maintenance that will be necessary to keep it in good shape.

We are familiar with home inspection services and can provide you with a list of names from which to choose. Another good source for finding a home inspector is to ask a friend, or perhaps a business acquaintance, who has had a home inspection and can recommend a home inspector they were satisfied with.

Remember, no home is perfect. If problems are found, we will help you negotiate through the process.

Settlement Costs - Who Pays What

During the negotiation stage of the transaction, a mutually agreed-upon date for closing is determined. "Closing" is when you and the seller sign all the paperwork and pay your share of the settlement fees, and the documents are recorded. Settlement obligations vary widely due to specific contract language, local laws and customs. Prior to closing, the closing agent (usually an escrow or title company or attorney) will complete a detailed settlement statement for both buyer and seller.

The Buyer Will Receive

• Earnest money deposit

The Buyer Pays

• One-half of escrow or legal fees paid to the attorney or escrow company for preparing the closing
• Document preparation fees
• Recording and notary fees
• Title search and title insurance
• Local transfer taxes, if any
• Repairs or inspections the buyer has agreed to pay for
• Loan fees
• Appraisal fees
• Credit report fees