Portland Buyers Information

The process of buying real estate can seem confusing and difficult. However, when you work with a true professional like Tom May, you'll find it easy and elegant.

The price you pay for a home or other real estate is determined by the market. Fair market price is defined as “a willing buyer and a willing seller.”

When you find the home you want at the price you can afford, you make an offer, usually with a deposit. The offer is presented to the seller and it is either accepted, rejected or a counter offer is made.

Once the negotiations are complete and a price and terms are agreed upon, your deposit is put in escrow and the rest of the details, from title insurance through mortgage completion are handled. Tom will guide you through each step.

When the process is complete, the deed to your home is recorded in your name and you're all set.

When your getting ready to buy a home, there are two basic considerations:

• Your lifestyle
• Your most important investment

Your lifestyle will determine what you want in a house and should reflect your lifestyle and your dreams for the future. Each home you look at offers a different opportunity. For example:

• Condos get you out of the maintenance game but rarely offer anything beyond a balcony for gardening.
• Single family homes usually have ample yards, but over time that space, both inside and out, may require more work than you want to do yourself or pay some else to do for you.

In other words, think carefully about what you really want in your home, now, and in the future.

You can help your real estate agent find exactly what you want by making a comprehensive list of exactly what you want. Include things like:

• Garden area or balcony size. Do you barbeque?
• How do you use the kitchen? Do you entertain often, cooking full meals? Or are you more likely to dine out or keep your cooking simple?
• How many bedrooms do you need now, and if you have children, how do you plan to use them after they leave home?
• How about closets, including closets and shelves for books and linens? Do you have hobbies or other activities that require additional storage?
• What about bathrooms? How many do you need? Do you want bath tubs in each, or do you love showers? How about a tub with spa features?
• Do you want a fire place or would you be happy without one?
• How about a home office? Or study area? Or a library? Or some combination?
• What about the garage? Do you need it just for your cars or do you want part of it to function as a workshop or laundry room?

Make the list as comprehensive as possible. Dare to dream. Now, prioritize your list. Knowing what you must have verses what would be nice to have helps you avoid falling in love with a property that doesn't serve your real needs.