Phone: (314) 677-1477

Buy

The Agency Advantage

  • With our centrally located office The Agency provides full service brokerage for buyers, sellers, renters, investors, and corporate relocations throughout the Saint Louis metropolitan area.
  • Our service goes above and beyond real estate brokerage; we are a partner, educator, and consultant to our clients.
  • Once you have narrowed your list of properties our Realtors will provide you with a comparative market analysis, which consists of an in-depth analysis of the subject property compared to similar properties in the area to determine an appropriate offer and bidding strategy.
  • Our agents have access to thousands of property listings that are continuously updated; in addition, we have access to numerous off-market properties.
  • We will conduct searches for properties that meet your criteria to satisfy your housing & lifestyle needs.
  • If you do not have financing in place, we can recommend and coordinate all activities regarding financing of the property.

Buyer Checklist

  • Evaluate your budget – know what you want to spend for a down payment as well as monthly expenditures (i.e.; real estate taxes, monthly mortgage payment, utilities, insurance, association fees, etc.)
  • Obtain mortgage pre-approval
  • Prioritize your needs – location, size, features, etc.
  • Identify your timeline for moving and for selling your current residence
  • Explore different neighborhoods to identify your preferred needs
  • Research schools in the selected neighborhood(s)

 

Purchasing Process

1. Seek pre-approval for a mortgage: Typical time frame: 1 – 2 days

You must know how much you can spend before you spend it. Depending on your loan and the lender’s requirements your down payment could range from 0% to 20%.

2. Find a home: Typical time frame: 1 week – 2 months

Depending on what you are looking for, the length of your search will vary. The average person sees 20-25 homes before deciding on one. Buyers can save time by doing their ‘homework’ before their search. The average number of homes viewed before buying by our buyers who do research is 5.

3. Make an offer and negotiate terms and contingencies: Typical time frame: 1 day to 1 week

Everything is negotiable so inquire about closing costs, fixtures, window coverings, rugs, curtains, appliances, professional cleaning, etc.

Possible contingencies: financing, appraisal, board approval, closing dates, and inspections. The quicker the contract can be signed, the better. A contract is binding only after both parties sign it.

4. Apply for a mortgage: Receive Commitment Letter from Lender. Typical time frame: 1 – 3 weeks

Mortgage applications cannot be processed without an executed contract. If a home is being financed, the initial offer will require a pre-approval letter.

5. Conduct inspections and present inspection notice: Typical Time Frame 1 Week

Conduct a whole home inspection, sewer lateral inspection, termite inspection, and radon inspection. Present findings to owner and make requests for certain items to be addressed. It can take another day or up to a week to negotiate the terms of the inspection notice.

6. Schedule a Closing:

A tentative closing date will have been determined in the initial offer. Once the inspection notice has been agreed to and a loan closing date has been confirmed a definitive date will be set for closing.

Typical time frame from the time a home is found and an offer is made to the time a home closes: 1 month.