Buying a home
Let's get you home.
How buying a home works in the Galax area with Linda Freeman: the buyer agreement, pre-approval, the search, your offer, the inspection period and closing in Virginia.
The short version
Most people start buying a home by looking at houses. I'd rather start by getting you ready to buy one. The home a buyer loses is usually the one they weren't ready to write an offer on, and around here the good ones don't wait.
Buying with me happens in four parts:
- Ready: your buyer agreement and your pre-approval, before we tour.
- Educated: what your budget buys here, and how you'd live in each place.
- Aligned: a search built around how you want to live, with an investor's eye on every house you're serious about.
- Locked: your offer, the inspection period, the loan and closing, run so the ending is calm.
Through all of it, you hear from me. Anything that matters gets a phone call, to you and to the other agent. Everybody has to get to the closing table or nobody wins.
Ready: the agreement and the pre-approval come first
The buyer agreement. Before I show you a home, you'll sign a buyer agreement with my brokerage, Avante Realty Group. It says that I represent you and lays out my duties to you, and those duties shape the rest of the agreement. It also spells out my commission. We talk about the commission together and write it into the agreement before you sign, so there are no surprises later. I'll go over every part of it with you.
A buyer agreement doesn't have to be a big, long commitment on day one. It can cover working with me exclusively. It can cover a certain area. Or it can cover one specific property. It can also change as your plans change.
Here's how that often goes. Someone calls me about one house they saw online. We sign an agreement for that one property and go see it. While we're driving around, we talk about what they really want, and by the end of the day they decide they'd like me to help with the whole search. So we expand the agreement to fit. You're never locked into more than you want.
The pre-approval. Next, talk to a lender and get pre-approved. A pre-approval tells you what you can borrow, what your payment might be, and what you'll need for a down payment and closing costs. It also tells sellers you're serious. Around here, buyers use conventional loans, FHA, VA and USDA Rural Development loans, and some pay cash. Your lender will help you pick the one that fits. If you don't have a lender yet, ask me and I'll give you a few names to call.
Get both of these done and you can write an offer the same day you find the right house.
Let's get you home.
Educated: know what your budget buys, and how you'll live there
The most common thing I hear from buyers is "Nothing's out there." The second is "Everything needs work." Both usually come from looking at the market without a map. So before we tour, we sit down and look at what your budget really buys here, town by town.
That conversation saves people months. Maybe your money goes further in Hillsville than in Galax. Maybe the acreage you want is easier to find out toward Laurel Fork. Maybe the house in town that needs a little work is a better buy than the finished one on a gravel road.
Equally important is how you'll live there. I once met a couple who bought a house on the Blue Ridge Parkway, and nobody told them the Parkway closes in winter. When it did, they had to figure out the back way to town on their own. Knowing the area matters as much as knowing the house.
So we'll talk about the things a listing never mentions: the drive to work, school, the doctor and the grocery store, which roads get bad in snow, whether a home is on a well and septic or public water and sewer, and whether there's internet service that works for you.
Aligned: fewer houses, better ones
Once we know what you want and what it costs, the search gets a lot shorter. I set up your search around your real list, not everything on the market, and you'll hear about new homes that fit as soon as they come up.
When we tour, I look at houses the way an investor does, because I am one. My fix-and-flip experience has helped me identify problem houses. I'll point out what I see, like a roof near the end of its life, signs of water, or a layout that would cost a lot to change, so you can decide with clear eyes. I always recommend a professional licensed home inspection, too, because it's better to know than to guess.
On land and farms, I grew up on a farm, so we'll walk it. We'll look at access, water, fencing, how the land lies, what's around it, and any restrictions that come with it.
You make your money on the purchase, not the sale. The right house at the right price is the one that still makes sense years from now.
Locked: from offer to keys
The offer. When you find the one, we write an offer together. I'll show you what similar homes sold for and help you decide on the price and the terms. Then I talk directly with the seller's agent. A phone call gets more done than a text.
Earnest money. With your offer comes a good-faith deposit called earnest money. The amount varies with the price and the deal. It can be as little as $100, and some sellers ask for more. It's held by the closing attorney or settlement company, and it goes toward your purchase at closing.
The home inspection period. Once your offer is accepted, you'll usually have about 10 days, set by your contract, to have the home inspected. If the inspection turns up something serious, that's the time to ask for repairs, renegotiate, or, depending on your contract, walk away. On rural property, we may also look at the well, the septic system and a survey.
The loan and appraisal. Your lender orders an appraisal and works through your loan. I stay in touch with the lender so there are no surprises near the end.
Closing. In Virginia, the buyer chooses the closing attorney or settlement company. That choice is yours by law. They handle the title work, the paperwork and the money, and closing usually happens at their office. Then you get the keys.
Let's get you home. Call me at (276) 733-8880, or send me a message about what you're looking for.
This page describes my general process. It isn't legal, tax or lending advice. Your contract, your lender and your closing attorney or settlement company have the final word on your purchase.
Frequently Asked Questions
Do I have to sign a buyer agreement before you show me a house?
Yes. Before any showing, you'll sign a buyer agreement with Avante Realty Group. It can cover one property, an area, or an exclusive relationship, and it can be changed as your plans change. My commission is discussed with you and written into the agreement.
Who picks the closing attorney?
You do. In Virginia, the buyer has the right to choose the closing attorney or settlement company.
How long is the home inspection period?
Usually about 10 days after your offer is accepted, but the exact period is set by your contract.
How much earnest money do I need?
It varies with the price and the deal. It can be as little as $100, and some sellers ask for more. It's held by the closing attorney or settlement company and goes toward your purchase.
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