Finding Your Perfect Home

Home Benefits New England

A team of experienced Home Buying Experts at your fingertips:

• Mortgage expert, Real Estate expert, Legal counsel, Financial Planner and Insurance Expert

• Discounts off our services. The more of the HBNE team you use, the move you can save!

• For example,on a 400K purchase transaction, you can save up to $3,500!

• This benefit is good for you AND your immediate family members.

STEP 1 Build YOUR Real Estate Team R

Mortgage Lender

Home Inspector

Attorney

Insurance Agent

STEP 2 Set your… Budget (Lender/You)

Goals (Realtor/You)

Expectations (Realtor/You)

STEP 4 Things to Consider When Looking at Homes

Location

Condition

Layout

Living Area

Potential vs. Limitations on Value

Quality of Life | Future Resale

Price

Use a 1 – 10 scale after every showing: If it’s a 7 or higher, the house is worth considering.

STEP 5 Beginning the Offer Process: Things to Consider

How much do you love the house?

What are market conditions?

How long has the home been on the market?

Any offers? Any offer deadline?

Sellers’ closing timetable/your own

Any disclosures? Up front due diligence opportunities

If a condo, what are the restrictions? Owner occupancy rate, etc.?

Is the property financeable based on your pre-approval?

Your agent should provide you with COMPS = similar homes in the area that are on market, pending, & recently

STEP 6 The Offer

Offer Price & Deposit (typically $1,000)

Time frame for acceptance (within 24 hours)

Dates for performance including inspection, P&S, mortgage commitment, & closing date

Contingencies

• Inspection, Pest, Radon, Mortgage, Appraisal, etc.

For Condos – satisfactory review of all condo docs prior to signing P&S

Including closing costs (requests for a seller credit)

Included Fixtures & Appliances: May include appliances, lighting, etc.

STEP 7 Under Agreement

Tender deposit ($1K) + Schedule inspection(s) + Hire an attorney

Inspection

• Great opportunity to learn through eyes of inspector; take notes, ask questions, prepare for future repairs

• Negotiate issues, request repairs, price reduction or closing cost credit

• If no agreement, exit deal and get deposit back

• If agreement, move to review condo docs or to P&S

Purchase & Sale Agreement

• Drafted by Seller’s Attorney

• Reviewed & edited by Buyer’s Attorney

• Must have second deposit liquid & in a Checking account (you can’t always send a wire) – typically 3-5% of purchase price

• “Point of No Return”

STEP 8

Post PS/Closing

Appraisal

Condo Questionnaire

Commitment Date

Final Walk-Thru

Closing Disclosure Issued

Closing Date/Location