Home Buyer's Guide and Process

Home Buyer's Guide & Process

The process of finding and purchasing a home typically includes many of the following steps. I am always there to provide you with information to help you make a wise decision, and will be your resource to guide you every step of the way.

The Initial Consultation

Determine your needs and priorities
Review and understand agency choices and choose me as your Buyer’s Agent
Discuss financing options

Finding the Right Home

I will show you properties based on your criteria
We will evaluate each property together
Choose the right home
Prepare an Offer to Purchase

I will help provide you with comparable recent sales and housing data to help you prepare an offer. The Offer to Purchase will be made in writing and usually accompanied by a deposit check (typically 1% of the offer price) made payable to William Raveis Real Estate Trustee to show “good faith”. After the seller’s written acceptance of this offer, the check will be deposited in William Raveis’ escrow account.

The Offer to Purchase will include:

Offer price
Closing Date
List of contingencies including obtaining a mortgage and completion of satisfactory inspections including but not limited to structural, pest, septic, radon, pool and tennis court.
Date at which formal contracts of sale will be signed and balance of deposit (10% total)
Personal property to be included or excluded in the sale of the property

After negotiations are complete and all of the terms of the Offer to Purchase are agreed upon, the seller will accept the offer in writing. I will work closely with your Real Estate attorney during the entire process. I also realizes that it is important to keep the momentum going during this process and to manage the many emotions that arise between the parties involved.

The Contract of Sale will include

Purchase price
Mortgage contingency and expiration (if applicable)
Closing date
List of personal property included in sale
List of any work seller agrees to complete prior to closing or any credits to buyer as a result of inspections

The Contract is reviewed by the buyer’s real estate attorney and then signed by the buyer. At this point, the balance of the deposit, typically 10% in total is paid by the buyer and will be held in the buyer attorneys’ escrow account. At this point, the sale is “pending”.

Closing

On the day of the closing, I will accompany the buyer on a “walk thru” inspection of the property.

The closing typically takes place at the seller’s attorneys’ office. The seller will convey the deed to the buyer as well as the keys, garage door openers and other pertinent information. Adjustments will be made with regard to real estate taxes and remaining fuel in oil/propane tanks. Conveyance taxes to the city and state will be paid off as well as any mortgages. The deed will be recorded at the Town Hall.