{buy with me}

Don't be scared! I'm here to provide as much or as little hand holding as you need. 

Here is a little guide to get you started:

First Steps

  • Get a mortgage pre-approval. Speak with a few different mortgage brokers to determine who can offer you the best loan option. A pre-approval is good for about 3 months.

  • Determine your budget, taking into consideration condo fees and taxes

  • We will begin visiting open houses and private showings in areas that you are interested in

  • When you have identified a home that you would like to move forward with, we will make an offer

Making an Offer: The Offer to Purchase

  • The offer to purchase is a form which details the purchase price, the specifics and timeline of the sale, and any contingencies

  • Some contingencies you may want to include: a home inspection, financing approval, appraisal, and satisfactory review of the condo documents

  • Understand that in a competitive real estate market, there are likely to be multiple offers and the purchase price is likely to exceed the listing price and buyers may waive contingencies to be more competitive

  • With the offer, we submit your pre-approval letter and a $1000 deposit check. This is subtracted from the 5% which is generally put down at the time of signing the P&S (see below)

  • If your offer is accepted, the property will now be considered “Contingent” status until all contingencies have been met and the Purchase and Sale Agreement has been signed 

Next Steps

  • Submit paperwork to the mortgage broker and your attorney. Generally the most economical option is to use your mortgage banks’ attorney

  • If there are items in the home inspection that are concerning, we can renegotiate the offer or ask for certain items to be addressed. If the results of the home inspection are completely unsatisfactory and you are no longer interested in purchasing the home, we can at this time withdraw from the sale.

This Is Where It Gets Real: The Purchase and Sale Agreement

  • The P&S is a large legal document which has been prepared and edited by your attorney and the sellers attorney getting down to the nitty-gritty details of your home purchase.

  • At this time you will generally make a 5% deposit of the purchase price (less the $1000 you paid at the time of making an offer.)

Final Steps

  • After the P&S is signed, the bank will send out an appraiser to make sure the property appraises for at least the purchase price you have agreed to pay. This is why I recommend putting in an appraisal contingency just in case

  • the bank will have various applications/forms for you to fill out in order to get your mortgage approved

  • First time buyers may have classes etc. that you can do to get the best rate/loan opportunity

Closing

  • The day before or morning of the closing date we will do a final walk thru of the property

  • We will meet a the registry of deeds or at an attorney’s office to sign all of the final paperwork (lots of paperwork) and you will get the keys to your new home! 

© 2017 by Holly Cameron. All rights reserved

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