Introduction
Nearly every Buyer begins their search by looking for homes on the internet, in the newspaper or driving around neighborhoods. While that seems to be an appropriate way to begin your travels to a successful transaction, it should ideally be the third step. Before looking at homes one should (1) Develop an Agency relationship with a REALTOR, and (2) Obtain a preliminary mortgage evaluation.
1. Your REALTOR
- Your Agent
- Has only Your Interests at heart
- Knows Maryland Laws
- Helps find Funding
- Defines your progress
5. Inspections
- State Certified inspectors
- Four or more Inspections
- Be present for each inspection
- A time to learn details about property upkeep
2. Obtain a Mortgage
- Important Information
- Determines your buying power
- Evidence to the seller that your contract is valid
6. Appraisal Issues
- Appraisals vary depending on the purpose for which it is done
- What happens if the appraisal is less than the list price?
- Should you accept an appraisal that was done in the past?
3. Find a Home
Your HousePartners Buyer's Agent is experienced in negotiating for you.
7. Settlement & Closing
A summary of the transaction is publicly recorded using a Federally mandated document called a HUD-1 document.
4. Contract Issues
All real estate contracts include conditions that the parties must meet prior to completion of the transaction.
Has everyone fulfilled their obligations?
Has everyone fulfilled their obligations?
Inspections:
1. Property valuation
2. Termite presence and/or damage
3. Appraisal
4. Walk - through prior to settlement
1. Property valuation
2. Termite presence and/or damage
3. Appraisal
4. Walk - through prior to settlement
