Mobile Real Estate Buyer's Checklist

Use this as a guide to keep track of critical steps along the way to acquiring your new home in Daphne,Fairhope and Mobile, Alabama.

Create your wish list.
We've included one that can help define which features are must haves. And which ones are "icing on the cake," and which don't really matter to you.

Find a Real Estate professional.
If you are not already working with someone, check out our "How to Select a Real Estate Professional" tip sheet.

Real Estate Agent:
Name___________________________________________________
Company________________________________________________
Telephone________________________________________________
E-mail___________________________________________________

Figure out what range you want to be in and get pre-approved.

Start shopping around. Be sure to use our "Home Comparison Checklist" to record the pertinent details of your favorite houses. Then compare that list with your wish list to help with the decision making process.

Make an offer.

Be sure to have your agent check your local market to see how much over and under bidding has recently occurred for your chosen neighborhood. In addition, your agent can provide comparison houses and range of prices that you will be comfortable with. Barbara Reeves will be your best source for this comparative information

Finish the loan process with the lender who pre-approved you.

Experienced loan processors are your best source to help select the program that best suits your needs and will lock in your rate. Barbara will guide you to the companies with the best programs for your particular needs.

      Lender:
      Name_____________________________________________________
      Company___________________________________________________
      Telephone__________________________________________________
      E-mail____________________________________________________

Order a home inspection.

When you are ready to make your offer, be sure it is contingent upon a home inspection conducted by a qualified professional.

      Inspector
      Name____________________________________________________
      Company_________________________________________________
      Telephone________________________________________________
      E-mail___________________________________________________

Have your home appraised.

This is required in order to proceed with your loan, normally your lender will order the appraisal.

Get Homeowner's insurance.
You will be required to show evidence of insurance prior to closing. Your Real Estate agent will give you the name and number of your closing agent at the title company to send your insurance binder.

      Insurance Agent
      Name____________________________________________________
      Company_________________________________________________
      Telephone________________________________________________
      E-mail___________________________________________________

Set up your utilities.
This can include telephone, gas, water, electricity, garbage/sewer and cable/satellite.

Prepare for and attend your closing. 
Barbara Reeves will tell you well in advance exactly what is needed to close on time. Let that be your guide from here on out. The seller will determine your title company and where your home will be closed.

How to Find your REALTOR®
and Questions to Ask When You Do.

Ask others for a recommendation or go to a professional referral source.

Often, the best tips come from friends, family and co-workers. If you have unique needs (for example, first time home buyer, vacation home buyer, real estate investment property buyer), be sure to find an agent who specializes in and has recently closed sales specific to the needs you have. And if someone you know has had a positive buying or selling experience with a Real Estate professional, you definitely want that agent's name. The name Barbara Reeves will come up constantly.

Check out an agent's background.
A good agent will be willing to provide you with his or her resume and a list of references you can contact. Find out what their success rate is as well as the firm they represent and how long the firm has been in business. Also call the local Board of Realtor to see if there has been any problems or complaints registered on this agent, then call Barbara Reeves.

Continue to review your working relationship.
Once you have selected and agent, make sure you continue to receive the level of service you want. Barbara Reeves will constantly strive to meet your Real Estate needs with first class service.

Questions to ask yourself
about Your Real Estate Professional

Is my agent accessible?

It's important that your Realtor regularly answers your calls or returns them in a timely manner, and is prompt when you have an appointment. Barbara will always return your calls, if for some reason she does not it is a fair assumption that she did not get them, so call back.

Is my agent organized and informative?
You need someone who can be a ready resource, providing you with answers that aren't vague or evasive, and is able to explain contracts and industry practices in a way you can understand. Barbara has the education and experience to be your first source of information.

Is my agent really listening to me?
If you are sure you're communicating your wishes and your agent continues to show you houses in the wrong neighborhood, price range, or style, it's time to look for a new agent. Barbara will show you exactly what you want to see, however if she feels a certain area or home is not in your best interest she will tell you from an objective view how she sees the home and you will be armed with all the information to make an informed decision.

Does my agent ask about my finances?
You want someone sharp enough to ask you the tough questions. Only by asking them will you and your agent be able to determine an appropriate price range for you. A good agent is one who is bold enough to talk straight with you instead of simply telling you what you want to hear. If you have financial challenges Barbara will be happy to work through them with you so the end goal will be home ownership.

Does my agent know the area well?
It's helpful if your agent demonstrates a ready knowledge of homes available within the area you're searching. This shows that he or she has actually been out previewing homes and is familiar with the area's community and property taxes, and not simply showing homes listed with their firm. Barbara puts your needs first and will show and sell her listings, her company's listings, other companies' listings or a "for sale by owner" (please call Barbara for important advice before you contact a "for sale by owner"). The bottom line: I want you to love your home!

Document Checklist

Recent pay stubs.
Most lenders ask that all wage earners that will be on the mortgage submit two or three of their most recent pay stubs.

Last two years W-2's.
If you can not find these contact your employer for a replacement.

Last two years tax returns.
You should have these in your personal records. If not contact the IRS for the proper forms, probably a 4506 or 4506-T.

Credit Authorization and Release.
A form you complete that gives your mortgage company the go-ahead to obtain information about your credit history, employment history, and other related information.

Pre-Approval Certificate.
This specifies what size loan you have been approved for, before you choose a house.

Good Faith Estimate.
This document will list all settlement charges you are expected to pay at closing. This document is supposed to be given to you with in three days of applying for a loan.

Truth in Lending Disclosure.
This document list loan information required by Federal Law, including credit terms and conditions, annual percentage rate, and other mortgage financing charges. You will receive this document within three days of applying for a loan.

Rate Lock Agreement.
Protects you against a rise in interest rates between the time you lock in your loan rate and the time the loan closes.

Appraisal.
A written estimate of a homes current market value. It is completed by a licensed appraiser. You will receive it during the loan process or at closing.

Flood Certification.
States whether a home is or is not located in a Flood Hazard Area. It is used to determine if you must purchase flood insurance under the National Flood Insurance Program if your property is in a recognized flood zone.

Hazard/Homeowners Insurance.
Insurance you must purchase to protect your property against fire and other hazards.

Deed of Trust.
Agreement to pledge property as security for a loan, used in many states in place of a mortgage. In such an arrangement, the borrower transfers legal title to a trustee (often Title Company or Bank) who holds the property in trust as security for the repayment of the debt.

Find the Perfect Home

Home #1 address_____________________________________________________________
Home #2 address_____________________________________________________________
Home #3 address_____________________________________________________________

Price of Home         #1__________                       #2__________                      #3__________

Age of Home
New developement     ___________                         ___________                         __________
Year Built                    ___________                         ___________                         __________/

Condition
Perfect                        ___________                         ___________                         __________
Needs some repairs    ___________                         ___________                         __________
Fixer-upper                ___________                         ___________                         __________

Style
Single Family             ___________                         ___________                         __________
Condo                        ___________                         ___________                         __________
Duplex                       ___________                         ___________                         __________
Number of stories      ___________                         ___________                         __________

Space
Number of Bedrooms___________                         ___________                         __________
Number of Baths       ___________                         ___________                         __________
Family room             ___________                         ___________                         __________
Dining room             ___________                         ___________                         __________
Kitchen size              ___________                         ___________                         __________
Number of closets    ___________                         ___________                         __________
Basement/Attic         ___________                         ___________                         __________
Floorplan Flow        ___________                         ___________                         __________
Garage Type            ___________                         ___________                         __________
Total Square feet     ___________                         ___________                         __________

Interior
Fireplace                  ___________                         ___________                        ___________
Utilities                    ___________                         ___________                         ___________
Cooling system        ___________                         ___________                         ___________
Heating system        ___________                         ___________                         ___________
Security system        ___________                         ___________                         ___________
Cable/Satellite         ___________                         ___________                         ___________
Condition Walls       ___________                         ___________                         ___________

Exterior
Wood, Brick ?          ___________                         ___________                         ___________
Roof, age, condition___________                         ___________                         ___________
Energy efficient       ___________                         ___________                         ___________
Screens, Windows    ___________                         ___________                         ___________
Gutters                    ___________                         ___________                         ___________
Yard size                  ___________                         ___________                         ___________
Lawn quality           ___________                         ___________                         ___________
Swimming pool       ___________                         ___________                         ___________
Spa/hot tub             ___________                         ___________                         ___________
Patio or deck          ___________                         ___________                         ___________
Fence                      ___________                         ___________                         ___________
View                        ___________                         ___________                         ___________

Neighborhood
Appearance &
condition of homes ___________                         ___________                         ___________
Traffic                    ___________                          ___________                        ___________
Noise level              ___________                         ___________                         ___________
Safety/security        ___________                         ___________                         ___________
Driveway/parking   ___________                         ___________                        ___________
Restrictions             ___________                         ___________                        ___________
Fire protection       ___________                         ___________                        ___________
Police                     ___________                         ___________                        ___________
Garbage service     ___________                         ___________                       ___________

Proximity to
Supermarkets         ___________                         ___________                        ___________
Schools                   ___________                         ___________                        ___________
Work                       ___________                        ___________                        ___________
Shopping                ___________                         ___________                        ___________
Childcare               ___________                         ___________                        ___________
Hospitals                ___________                         ___________                        ___________
Doctors/Dentist      ___________                         ___________                        ___________
Recreation/parks    ___________                         ___________                        ___________
Restaurants            ___________                         ___________                        ___________
Church                   ___________                         ___________                        ___________
Airport                   ___________                         ___________                        ___________
Freeways               ___________                         ___________                        ___________
Transportation      ___________                         ___________                        ___________

If you are a buyer looking for check list to help with your home search please feel free to cut and paste this page on to your own "Note Pad" or "Word" document". I am happy to help you in your search for your dream home; please contact me.