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The idea of homeownership as a direct way to build your net worth has met the test of time. If you’re dreaming of buying a home this year, start by contacting me to understand what goes into the process. With me as a trusted advisor at your side, we can discover the perfect home for you.
FAQs
What is the first step that I should take when looking to purchase a home?
The first step a purchase should consider is to get pre-approval from a lender. Before starting your house hunt, it is wise to make an appointment at your bank or at a mortgage broker’s office to discover your mortgage pre-approval amount. This amount will be determined by looking at your monthly income, debts and credit history.
I was denied a loan but have entered into a contract to purchase a property. Can I cancel the contract?
Your Agent typically will include a mortgage contingency agreement that provides that if you are unable to secure the funds needed to close on the property by way of a mortgage commitment, then you have an opportunity to cancel the contract and have your down payment returned.
I found a property that I like. What is my next step?
Once you find a home that fits your budget and is located in a neighborhood you love, an offer is prepared by your realtor and presented to the Seller.
What inspections can I have done to the property?
As part of the Buying Process, the Buyer is given an opportunity to inspect the condition of the property for any defects, including structural, underground storage tanks, radon and insects. The Buyer is given a period of time to hire a licensed professional to render a report so that the Buyer is made aware of the condition of the property prior to the closing of title.
Who else is involved in helping me purchase a home?
You’ll want to find a realtor that you are comfortable with, who understands your budget and what you’re looking for in a home. A realtor can provide valuable insight to the safety of the neighborhood, if the home is located in a flood area, school ratings if you have children or are planning for children, and local town resources, such as parks, town pools and/or transportation hubs.
If I cancel the contract what happens with my deposit?
The deposit or down payment can be returned based upon the terms of the contract so long as the cancellation is made timely and in accordance with the contract or any riders amending the original contract of sale.