How I work with my
clients:
Most real estate agents spend most of their time finding the next lead. I work differently than most agents, in that I work mainly by referral. That way, I spend nearly all of my time taking care of my clients’ needs. So when I work for you, you are getting my full, undivided attention to help you find the home or investment property of your dreams.
How I work with first-time
buyers:
To begin with, once I know the basics of what type of home you are looking for, I will give you the names of several lenders and mortgage brokers with whom I have worked, and whom I have checked out to make sure that they will do the best possible job for you. I will ask you to call all of them, and then select one that you feel comfortable with.
Meanwhile I will work with you to determine how much house you can afford. It is very important to keep in mind that lenders will frequently approve you for more than you can afford. It is especially important to create a detailed monthly budget, including your normal monthly expenses, but also expenses that you may incur on an occasional basis. For example do you buy extra shoes or clothing or like to go out to dinner? Do you buy home furnishings on occasion? Do you have a pet that needs to go to the vet? Do you like to take trips on weekends or on go on vacation? What might your kids need over the next year? Most of us do have these kinds of expenses, so make sure you factor them in to your budget. It is also very important to add some room to your budget for emergency spending, and saving each month. Also make sure to include contributions you might make to a 401(k) or an IRA.
Armed with your budget, you can approach your lender or mortgage broker. In arranging and pre-approving you for financing, they will calculate your monthly payments for a given home price, as well as your closing costs. In their calculation of your monthly payments, make sure that they include not only your mortgage payments, but the additional amounts for your property taxes and home insurance. The totals of your monthly budget and your monthly payments for your home must not exceed your income!! Figure the amount of monthly payments that will make your total monthly finances work, find the corresponding home price you can afford, and do not exceed this amount when you buy! I will use this maximum price when helping you shop for your home, and will not allow you to exceed it. That is my promise to you, and you will thank me for it later.
To be clear: I want to help you buy a house, but I do not want you to get into a situation that you later regret. It doesn’t do you or anyone else any good if you do. I want you to refer more business to me in the future, and if you end up in good financial shape, you are more likely to do that. So I won’t let you bite off too much financially. It’s how I would want my trusted professional to take care of me, it’s how I would take care of my best friend, and it’s how I will take care of you.