Where do I start?
FIRST STEP...THE INTRODUCTION
One of the most commonly asked questions is "where do I start". Well, simply stated, once the decision has been made to move the next step is to find a "qualified" Realtor to assist you. Your Licensed Real Estate professional is one of the key elements in making your transaction go smoothly and will guide you through the process of buying or selling your home, making sure all your paperwork is completed as required by law.

SECOND STEP...PRE-QUALIFICATION
The second step would be to allow your Real Estate Agent to work with you to get "pre-qualified" for a mortgage. This is a process where you the buyer, contact a lending institution, give them the information needed to acquire a mortgage. The lending institution then issues a "pre-qualification letter" which will be needed later on in the buying process. The pre-qualification process also gives you a realistic idea of just what you can afford. Some folks think that they can only afford "this much" when in reality they can afford much more. This is due to the mortgage programs that your finance person put together for you.

Maybe an issue in the past has you wondering if you could qualify for a mortgage??? Well the good news is that in todays market, lending instutions will bend over backwards to try and get you approved. Sometimes they will help you understand what you need to do to get qualified. You may need to help the process along.

We like to suggest that you consider using a "local" financing/mortgage lender. The reasons are simple. The local lenders know the market and have programs put together for that market. They use local appraisers that also know the value in the area unlike a lender in other areas of the country, who will sub-contract with an appraiser out of Timbuktu, who will travel overnight to appraise one of the most important purchases of your life.

We also ask you not to use the Internet to look for mortgages. We feel this is risky. Not only do you put all your personal information out for just about anybody to see (careless clerk), but are you really going to trust someone you can't look at in the eye? Local lenders are there to shake your hand, look you in the eye and are only minutes away by car. You can stop by their office if needed. Your personal information is protected. Another thing...By giving your SS# to some broker who will supply you "several quotes in minutes" gives any lender in the world the right to look at your credit...Possibly put you on a mailing list and so on...Do you want that?


THIRD STEP...YOUR NEEDS...
One of the next steps would be to sit down with your professional Real Estate Agent and talk about what you desire in your new home. Things like how many bedrooms, baths and maybe the area you have targeted to live in. Sometimes this is accomplished while doing step 2.
The Realtor will then use their local MLS service to locate homes that fit your parameters. From the Realtors office you can scan the results then pick and choose the homes that you now want to visit.


THE INTERNET...
You also have other options at this point. The INTERNET is becoming the fastest way to look for a new home. It is estimated that around 85%of all homes sold will come from the INTERNET. As an example, this site www.CecilCountyHomes.net offers a ton of Real Estate information, all from the comforts of you home. You can search for homes, investigate the schools and communities, get a Mortgage. You can also have the MLS email you NEW listings as soon as the information is placed in the system by the agents...while you were sleeping!!!

FOURTH STEP...HOUSE HUNTING...
OK...Now you have found a licensed Realtor, you have obtained a pre-qualification from a lending institution, you have stated your needs to the Realtor and explored the MLS for homes that fit your parameters, now it's time to go visit the homes that you have targeted as candidates. Your Realtor will call to get access information, set up showings and accompany you on the visit. Together, you'll look over the property and let's say "this one is for you".

FIFTH STEP...THE OFFER...
Now your Realtor will assist you in making the offer to purchase, prepare and explain all the "proper" paperwork, answer all your questions, then present that completed paperwork to the sellers agent for review. At this point, you sit back and let your Realtor handle the rest of the negotiations.

Scenarios:
#1 The offer could be "rejected" by the seller.
#2 The offer could be "countered" by the seller.
#3 The offer could be "accepted" by the seller, but with contingencies ( a form of counter-offer)
#4 The offer is accepted...You have a Contract...Congragulations on your new house.

SIXTH STEP...THE CONTRACT...
From this point on the situation gets very fluid. No two transactions are alike. This is where you trust your Realtor to guide you throughout the rest of the process. The paperwork could take several twist and must be done correctly.

SEVENTH STEP...THE CLOSING PROCESS...
Now let's say the offer has been accepted. Your Realtor now assist in setting up all the inspections and so on. Now it's time for reviewing all the paperwork for the "closing". Your Realtor should be "holding your hand" throughout the final days. It's their job to make sure everything is ready and to put out last minute fires that might come up.

At settlement, the Realtor assist the closing agent where needed by that closing agent. There are usually smiles all around and if the Real Estate Agent did their job right, settlement should go smoothly. Once the keys have been handed over you breath a sigh of relief. Everybody shakes hands, exchange hug's with their Realtors and new friendships are born...

Congratulations on your new home purchase!!!

Bruce and Barbara Criscuolo
Bruce and Barbara Criscuolo Email At:
Integrity Real Estate CecilCountyHomes@comcast.net
2825 North East Rd Phone:
North East, MD 21901 (443) 553-0256



 


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