How long does the buying process take?
Once you have an accepted offer on a property and if you are getting a mortgage it typically takes 45 days to close.
How many properties does the typical buyer look at?
This varies but typically anywhere from 1 to 12 properties.
How often do you find the perfect property on the first day?
It actually happens more often than you think. Trust yourself and move forward.
What is the likelihood of a multiple offer situation?
It is highly likely that you will be in a multiple bid situation. It would be unusual not to be in one in the current market.
When should I make an offer?
Call me. We will discuss and figure out what the next step should be.
How much should I offer?
Call me if you have not already. We will discuss the market value of the home as well if you are in competition with any other buyers for the home and determine an offer price together.
How much earnest money should I put down?
5% of the purchase price is typical in our area but in a multiple bid situation you may decide to put down more.
What happens to my earnest money?
Usually the listing agent’s brokerage firm holds it in an escrow account until the closing
Will I get my earnest money back if the contract is not accepted?
I only send over a copy of your check with an offer. If your offer is not accepted then I will void out your check and shred it.
What is the process to get my earnest money back if the contract is accepted and the home inspection finds an issue?
If you decide you no longer wish to proceed with the purchase of the home after the inspection then I will have you and the sellers fill out a release form. The listing agent’s brokerage firm will then issue you a check for your earnest money deposit.
How long does the home inspection take?
It usually takes 2 to 3 hours (longer if it’s a large home) and you should plan to be there for the inspection. Not only are you there to hear about any issues but it is also a great way to learn about your new home.
Should I lock in my interest rate or should I float?
Talk with your lender about the option to lock in an interest rate with the option to float down.
When can I move in to the property?
The paperwork you sign on the closing day must go on record at the Registry of Deeds. Once it is on record you become the official owner of the property, the keys are yours and you can move in!
Is the closing date on my contract guaranteed?
No. Most of the time a property closes on the date stated in the contract but there are times when that date gets extended.
Can you recommend an attorney, home inspector or a lender?
Yes! I have a great team of professionals that I work with and highly recommend. I would be happy to pass along their contact information.