If you’re thinking about buying real estate on the seacoast, I would be happy to help you find the property that’s right for you. Working with an experienced realtor who is familiar with the market will save you time and money.
Once I know what type of property you are looking for, I will email you links to view descriptions of properties currently on the market that meet your requirements. When we have identified specific properties you are interested in, I will schedule showings to view them. I can show you any property listed in New Hampshire or Massachusetts. Occasionally the type of property you seek may not be on the market at the time you begin looking. In this case I will continue to keep my eye out for you and will contact you when this type of property does come on the market. I can also set you up to receive automatic emails when listings that meet your criteria come on the market.
There’s a little paperwork involved before any realtor can show you property in New Hampshire or Massachusetts.
The first is a two page Disclosure of Agency. This important document explains how you will work with your realtor.
Does your realtor work
- For the Seller?
- For you as a Buyer’s Agent?
- With you as “Other” Agency?
I will further explain these types of representation when we meet.
Once you’ve found a property you’d like to purchase, the next step is to make an offer. Your accepted offer becomes your Purchase & Sale agreement in New Hampshire. In Massachusetts there is an offer and then a Purchase & Sale agreement. Your offer will include not just the price you are willing to pay but also:
- Amount of deposit
- Closing date
- Financing terms
- Home inspection information
- Period to review condo docs, availability of property
- Confirmation that you have reviewed property disclosure
- Other contingencies
Let’s look at the components of an offer:
Before closing it is typical to make two deposits. The first earnest money deposit is made at the time you make the offer. It is usually for $500 or $1,000. Your second deposit is usually due within 7 – 14 days after acceptance of your offer by the Seller. In some cases the second deposit is paid after the home inspection. Both deposits are held in escrow by the listing agency until closing.
The closing date is a negotiation between Buyer and Seller.
Within an offer a Buyer agrees to submit a mortgage application within a specified number of days. The amount to be financed is specified as well as the type of mortgage. There is also a date in the offer by which the lender needs to provide a commitment letter.
There is a home inspection section of your offer in which you list what types of inspections you’d like (general, pest, radon, etc) and what time period you need to get them done.
Confirmation of having received property disclosure
You will receive a property disclosure about the home you wish to purchase. In this disclosure the Seller has answered questions about the condition of the property. You will initial each page of the disclosure and sign it. You will then confirm on the offer that you have received it.
Once your offer is accepted you will need to:
Apply for a mortgage
I will help you find a mortgage broker if you don’t already have one
Schedule a home inspection
I can help you with this as well.
Review condo docs (if you’re buying a condo)
Look for property insurance (if you’re not buying a condo)
An appraisal of the property will be ordered. The title company or law office and underwriting will start their work. A closing will be scheduled. For your convenience, your closing can be held in our office.
I will be at your closing to answer questions, hand over keys and congratulate you on your purchase!
If the above sounds daunting, don’t worry – I’ll be on hand through every step.