Steps to buying a home...
Initial Meeting: This is an important visit for several reasons. There are many towns that
comprise the Greater Manchester Area and it helps to get a familiarity with them. We go over
the role of a Buyer's Agent, and the representation it entails. If the research isn't done
beforehand of homes we'll be viewing, then this is the time to do it together at the computer.
Clients can see for themselves whether or not the criteria they have (or wish to have) actually is
available. If not, we can tweak it to come close! After we've refined the search, the appointments
get made! We can also go over what it takes to present an offer, such as having a
pre-qualification letter to accompany it and what our contract consists of. Even if a buyer is a
seasoned one, having sold multiple properties in the past, if he/she is coming from another
area, terminology and methods may be different here.
Financing: When we're ready to make an offer on a property, a pre-qualification letter from the
lender is necessary to accompany it. Therefore, it's important to start this process first,
sometimes even before looking at properties. A second benefit is that the buyer will know
beforehand exactly what they're qualified to buy, what issues might need to be addressed,
items might be needed to be ready when applying for the loan, etc. See our related services
page on this website to get pre-approved today our recommended loan officers have access to
many programs and can counsel and guide a buyer as to the most advantageous and
appropriate one for their needs. There are a number of tax advantages available for most
American homeowners, but to benefit, you have to understand them, and report them properly
to IRS. See Realty Times article, "It's Tax Time Again!"
Offer: Once we've found just the right house and are ready to make the offer. It shouldn't be a
scary thought because we will have done our homework. The first thing we do is to check the
comparable home sales in the area to see if this home is priced fairly, and how it relates to
others similar to it that have sold. When we're comfortable with what we will be offering, we
begin to fill in the blanks of the New Hampshire Sales Contract. We go over this contract very
carefully, so that each paragraph is understood along with the accompanying disclosures.
There are provisions for a Home Inspection and any other inspections the buyer may elect.
The day before closing, there is a final walk though to make sure all is as it was when
inspected, or if any repairs that were requested have been completed.
Once we have an accepted offer. What's next? We have 10 - 14 days in which to do a Home
Inspection. We both attend because you will learn much about the mechanisms of the home.
Any repairs will be requested in writing immediately to the sellers agent.
Next... A title company is chosen they will coordinate the closing, receive funds from the buyer
and/or any lender, prorates insurance, taxes, rents, homeowner association fees, etc.,
disburses funds for title insurance, recording fees, real estate commissions, lien clearance,
etc, prepares a final statement for each party, indicating amounts to be disbursed for services
and any further amounts necessary to close escrow, records deed and loan documents,
delivers the deed to the buyer, loan documents to the lender and funds to the seller.
This is the time to be in touch with the lender to provide whatever is necessary for the final loan
documents, for the seller to take care of any requested repairs, and for the lender to go through
the underwriting process.
As a buyer, you will want to arrange for the utilities to be turned on when the seller's is turned
off. Don't forget to have the phone company ready to turn on your new service as well. Make sure
all magazines, bills, and family and friends, have your new address! Anything related to school
registration should also be done well in advance. Moving preparations should be made as
soon as you know the offer is approved.
The closing is almost always done at the title company with the buyer an seller present typically.
The recording of the deed, is considered the actual "closing". Buyers (and sellers) and their
agents will be given a settlement statement, showing the closing costs beforehand, so there
are no surprises, and the buyer will know exactly how much his cashiers check should be.
Your loan officer will have gone over the final closing costs involved with the closing as well just
prior to closing. We will attend the final walk through and closing with you.
|Two Agents... One Goal... Make your real estate dreams come true!
|Karin Provencher ~ Claire Samara ~ RE/MAX Omega Group ~ Manchester NH ~ (603) 860-9464 / (603) 289-1010 / 622-2200 ext 211
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