No Place Like Home Real Estate - Buyers' Information and Tips

Interested in Buying a House?

A HOUSE may be your LARGEST INVESTMENT!
Once you've decided to buy, choosing the Right Realtor to assist you is ESSENTIAL!

At No Place Like Home Real Estate, our primary goal is to help you locate and purchase the
home of your dreams that fits your lifestyle and your budget, with the fewest possible complications. We have the knowledge, compassion, integrity, flexibility, and attention to
detail necessary to help you navigate more smoothly through the home buying process.

Buying a home involves many critical steps. By being properly prepared, the knowledgeable
home buyer can avoid many mistakes that may lead to disappointment or financial difficulties.

BUYER AGENCY- It's a Good Thing
The Agent, unless specifically disclosed otherwise, represents the seller in any transaction
for the sale of a home. It is that Agent's fiduciary duty (where their loyalty lies) to protect the
seller's position at all times. Buyer Agency is when an agent represents the buyer and thus is committed to protect the buyer's position at all times. The fee for the Buyer's Agent is
usually paid from the seller's commission.

Get Pre-Qualified and Pre-Approved
Lending institutions including banks, credit unions, and federal or state agencies are best able to provide you with information
on loan programs that are suited to your unique situation. Prequalification is the initial step in securing a mortgage. A lender
will analyze your current income, debt, and credit history in order to qualify you for a maximum loan amount. Pre-approval
has occurred once the lender has verified your income, debt, and financial picture, and approved the loan subject to a favorable appraisal of the property you select. A pre-approval letter is an invaluable tool when shopping for a house in today's real estate market. Many home sellers require a pre-approval letter to accompany an offer made on their home. For this reason, a home buyer who is unprepared may lose the opportunity to purchase the house of their dreams if a more prepared buyer with
financial pre-approval is competing for the same property. Click here to read more information about mortgages.

The Shopping List
It is important before you begin shopping for your new home that you define what your dream home will 'look like.' You many want to make separate lists of needs and wants (a chart format works well), and rank them in order of importance. As your real estate agent looks for appropriate properties in your desired location and price range, you can use your predetermined lists to objectively identify those houses that have features that will best suit your lifestyle requirements. This step will help you to narrow your search results to only the most 'qualified' houses, saving you innumerable hours often wasted touring the 'wrong' houses.
Having carefully chosen some homes to visit, bring your lists and be prepared to take notes. Some people like to bring a camera with them so that they can review the homes again later.

Contracts and Negotiations
Once you've found the house of your dreams, you can be assured that your experienced No Place Like Home Real Estate professional is well versed in the standard New Hampshire contracts and will be able to guide and advise you through the often difficult and emotional process of making and negotiating an offer to purchase.

Home Inspection
Among other contingencies, most purchase offers are contingent upon the satisfactory results of a thorough inspection by a professional home inspector. You will be provided with valuable information on the condition of the structure as well as its operating systems such as heating, plumbing, and electrical. It is recommended that you attend the inspection so that you
have the opportunity to ask questions and see/discuss any problem areas or issues. Many home inspectors offer laboratory
testing services for water, radon, lead, and mold, if necessary or desired. Some will even provide their clients with helpful home maintenance tips. Unexpected deficiencies discovered by the home inspection may result in further negotiations with the help
and advice of your real estate agent.

Signing on the Dotted Line
Once negotiations are completed and all contingencies have been satisfactorily met, it is time to prepare for the 'closing' or 'settlement.' This event, which results in the transfer of the property title from the seller to you, the buyer, may take place at an attorney's office, title company, or real estate office. It is at this time that you sign a mortgage deed as well as other documents including title and homeowners insurance papers. An escrow account, if required by your lender, is also set up at this time for
the purpose of setting aside money from your monthly payments, to pay insurance and/or property taxes. The seller's mortgage,
if he has one, will be paid from the proceeds of the sale. You will receive a HUD-1 statement from the settlement company
prior to the closing indicating the costs and fees involved for both the buyer and seller.

Your No Place Like Home Real Estate agent
can provide you with more information to help you become a savvy home buyer.