Tim Conroy approaches your home purchase with a commitment to provide higher standards of customer service. Tim has enjoyed working with first-time buyers, experienced homeowners, clients relocating to Iowa, downsizers, and alumni moving back to the Iowa City area. Tim prides himself on notifying you of new properties, planning informative showings, giving prompt attention, and guiding you through negotiations and other transaction stages.
The typical buying process entails the following steps:
- Compiling a list of what you’re looking for in a property (size, style, neighborhood, etc.). If in advance you have selected homes online that attract you, we’ll provide additional research and insight about them.
- Viewing a few available properties to help you understand what the current market is like in the Iowa City Area.
- Reviewing the mortgage pre-qualification process and helping you contact a financial institution (if needed).
- Building your experience by showing properties. Tim feels it’s important for clients to get a solid idea of what the local market has to offer before making an offer. When you work with Tim you never need to worry about the number of showings you request. He strives to show you as many properties as practical and encourages you to take your time. Purchasing a home–no matter how experienced you are–should not be an impulsive transaction.
- Once you’re comfortable making an offer on a property, Tim helps you by reviewing comparable sales, formulating your offer, and negotiating once it is presented.
- After your offer is accepted Tim will be helping you clear typical hurdles such as property inspections, remedy agreements, finalizing your financing, and scheduling the pre-closing walkthrough of the property.
- After completing your many guided steps, a smooth closing will result. You’ll be informed and prepared in advance, and Tim will be with you at the closing site with any paperwork or other materials that may be required. Whether you have a mortgage closing or a cash closing, Tim will be sure all is in place for success.
- Following the closing the home is yours, and your move-in will follow plans you have in place. Tim will be a phone call away if you need advice about service people or have other community questions.
Below are a few items we recommend reviewing prior to making an offer on a property.
Build Your Green File.
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:
- Financial statements
- Credit-card statements
- Auto loans documentation (if any)
- Recent pay stubs
- Tax returns for two years
- 401K statements, life insurance, stocks, bonds, and mutual account information (if any)
Check Your Credit Rating.
Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with the assistance of an experienced lending institution so that we can determine what you can afford. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian, and TransUnion. I will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial, and investment real estate fields.
Be Careful with Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.
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