Sam Carkhuff

It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your total mortgage payment should not exceed 1/3 of your net monthly income.

First, I would suggest that we schedule a time to meet to discuss the reasons you want to buy a house and your plans for the future. I will share my knowledge of the Topeka area neighborhoods, schools, economic factors liable to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you.

This is the time for me to help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a mortgage loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help when I am negotiating the deal for you.

After our initial meeting, I will search all my resources for houses on the market that fit your criteria. I will set up an email notification account for you to automatically notify you of new listings as they come on the market or call you if that is your preference. Then, I will schedule appointments to tour the houses at times convenient to you.

During house tours, I will point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as you tour houses, some things will become more important and others less important. With this new information, I will be able to refine your search criteria to narrow in on the house of your dreams.

My knowledge of the local market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for longer, more thoughtful consideration.

As you tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell".  My insightful market knowledge will keep you a step ahead of the "house hunting competition".

In a "Seller's Market", it is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "Buyer's Market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell. With a few exceptions, currently the Greater Topeka market is a Balanced Market. While everyone likes a good deal, the true good deal for you is the home that fits your needs, is in your price range and stands out from its competition.

I am confident we'll find your dream house. When we do, we will put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).

The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).

It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.

Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.

During the closing period, we will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. I will gather the necessary property information your lender will need to close the loan.

In this time period, we will also schedule and discuss any inspections we feel should be done on the property. Whole House Inspections are very popular and generally cover most of the major systems and structure. A termite report is standard on nearly every transaction.

You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. I will give you a checklist to help you remember the numerous details that will make your moving day a pleasure.