Buyer FAQ's

The first step is to have the buyer pre-approved for a loan from an ethical, reputable lender. We can provide a list of highly qualified lenders. Secondly, we search the MLS (Multiple Listing Service) for online property listings that meet your desired house parameters. Next, once you have selected those desired homes we hit the road and look at them. After you find that perfect match we write and submit the contract to the seller. With our expertise we negotiate the best price for the buyer. Upon acceptance of the contract and purchase price by the seller we are now “under agreement.” At this time we execute home inspection, mortgage application, and appraisal. The buyer will submit financial documentation to the lender privately (not through Team Pauline). If a concern arises during home inspection, it is our job to negotiate repair, compensation or credits for material defects and safety hazards. That day arrives… settlement day where you receive your keys to your home and start your next journey in life.

The seller, not the buyer, pays our commission at settlement. The seller pays both the seller and the buyer agent’s commission.

The short definition of a short sale is when a seller owes more on their mortgage than the property is worth. The seller may be experiencing a hardship such as income or job loss, medical issue or divorce and needs to sell his/her home. The seller must qualify to sell his/her home with this process. A short sale is the prequel to foreclosure.

The short sale process can take 3-6 months. If you are in need of a quick settlement, this is not the process for you. It is a long, drawn out process without any guarantees. With the purchase of a short sale property, you must follow specific steps through the seller’s mortgage company. These large companies do not tend to move quickly. You can go through this whole process and still not get the property. Team Pauline can help you navigate the process by completing the paperwork, negotiating the price/agreement and submitting proper documentation to the seller’s mortgage company. You can get a deal in this short sale process but it is for a specific type of buyer and you must be able to wait.