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Buying

Buying a home can be a big step. Allow me to assist you to the best of my ability as a professional in the industry. To get you familiarized with what is involved, here are some steps in the home buying process for you to get familiar with.

Initial Phase – Prepare

Prepare financially: Take a good look at your financial situation from everything from how much you plan on putting down and what you are comfortable spending on a monthly basis. Once you begin the home buying process, it is a smart idea to refrain from any larger expenditures as this can affect the amount of a loan that you apply for.

Consult with a Mortgage Broker: Once you are comfortable with your personal finances, connect with a mortgage broker and see exactly what you will qualify for in regards to an amount of a loan. Your mortgage broker will also give you a pre-approval letter that will accompany your offer when that time comes.

Second Phase – Home Search

Viewing Homes for Sale: Arguably the most fun and best part of the home buying process. Once you have identified what you can afford, then we will set up searches for homes. Each town offers a variety of different amenities and accessibility. I can be a helpful resource as you decide which towns may fit your criteria best based on my knowledge and experience.

Third Phase – Offer to Closing Period

Offer to Purchase: Once we locate the property that you make an offer on, we will need to move quickly. I will provide you with current comps in each town we look in that will help you draft the best offer for us to negotiate. Having a strong understanding of the market will help you move briskly through the offer process and give you the best chance at getting the home you want.

Up to 7 Days after your accepted offer, you will want to have a home inspection: The best way to learn all details of the home is hiring a professional inspector. They will give the home an examination and alert you of the current condition along with any future repairs that may be needed. This will help you plan and budget for the future or negotiate the terms of your deal if anything serious in uncovered.

10 to 14 Days after offer, enter contract: After the home inspection is completed then it is time to solidify all terms and enter contract. Commonly referred to as the “P&S” the Purchase and Sale agreement will cover all of the terms and conditions of the deal. The deposit should be paid along with the signing of this document. This money will be held in escrow until released the day of your closing.

45-60 days from the offer you will typically close: This is a usual time frame for most deals, but no two deals are exactly alike so additional contingencies or desired dates may play a role in process.

Do you have any other questions? Let me be your resource and please feel free to ask me any questions about any part of the process.

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