BUYING A HOME IN FREDERICK COUNTY
And how Homefinders.com can help you.
STEP #1
LET'S GET TO KNOW EACH OTHER
Homefinders.com likes to start off with a tour of homes. You get to know
us and we get to know you. We'll take you on a tour of a home or two to
show you how working with a dedicated buyer's agent will show you how
to preview a home. Some folks walk through a home. A Homefinders.com agent
looks DEEP in to the soul of the home. You can select the home or homes
to tour from the Homesdatabase.com/lennharley database of active listings
online. Or, the Homefinders.com agent will select a home or homes to show
you based on your stated criteria of price range and location of Frederick
County homes.
Once you decide to work with a Homefinders.com buyer's agent in Frederick County, you'll have an agent who will not only show you homes, they will tell you everything you want to know about a home. Or, at least everything that your agent knows about the home. We'll explain the importance of the property disclosures, the type of disclosure that sellers are required by law to make and how these disclosures help you to understand the condition of the home you visited.
Homefinders.com Agents in Training
STEP #2
TIME TO GET PRE-QUALIFIED
You have an agent. That means we'll help you every step of the way from
home search to settlement. Frederick County homes
are much in demand and sell quickly. So, depending on how quickly you
wish to buy, we need to be prepared. If you have a preferred lender, contact
them and tell them that you're ready to buy a home
in Frederick County and wish to have a written
pre-qualifying letter. If you do not have a preferred lender, your Homefinders.com
agent can recommend lenders to you that are experienced with loans for
the type home your are planning to buy. We'll get the pertinent information
to the lender and have a pre-qualifying letter within hours. Now you are
REALLY ready to buy a home.
YOU SET THE PACE
At no time during the above initial steps in your home search will you
be pressured to buy anything. Homefinders.com agents understand that some
buyers who call on a specific home may be ready to buy NOW. But, we also
understand that some buyers, particularly first time home buyers need
time to learn the market and the home buying process. Our job is to help
you reach your goal of buying a home, not just sell you a house.
STEP
#3
YOU ARE READY TO SELECT A HOME
Now is the time to really look at the home in Frederick
County you have to selected on which to write an offer. Your Homefinders.com
agent will provide you with the MARYLAND PROPERTY CONDITION DISCLOSURE
STATEMENT, information about other sales in the area with which to compare
the list price, lead based paint disclosures (if the home was constructed
prior to 1978), other disclosures as appropriate. Time permitting, we'll
tour the home again and look in every nook and cranny of every room of
every floor, inside and out, to make sure you know as much as possible
about the home BEFORE you write an offer.
STEP #4
WRITE THE OFFER
Your Homefinders.com agent will explain the RESIDENTIAL CONTRACT OF SALE
TO YOU in detail. You can decide if you wish to have a home inspection,
Radon inspection (highly recommended for homes
in Frederick County) , how the Home Warranty works, what all of
the addenda mean and help you structure your offer considering price,
settlement date, inspections, and every aspect of the written offer. Offers
in Maryland are made in writting and are very serious. At this time, you
MUST have the pre-qualifying letter to accompany your offer.
STEP #5
OFFER, COUNTER OFFER
Once you make a written offer, it must be presented to the seller, often
through the listing agent, with all addenda and often along with other
buyers' offers competing for the same property. Your Homefinders.com agent
will stay on top of the negotiating process to make sure that your interests
are promoted depending on what is important to you. Often the settlement
date is as important to the buyer or seller as the price.
STEP #6
YOU HAVE A CONTRACT, WHAT NOW?
At this point, your Earnest Money Deposit will be deposited in the Homefinders.com
Escrow Account. Your Homefinders.com agent will schedule any inspections(s)
quickly because they are a contingent on the contract and are date sensitive.
If the home inspector finds serious defects in the home you will have
the option of declaring the contract void OR giving the seller an opportunity
to make repairs OR crediting you with cash at settlement to compensate
for the defects. Your Homefinders.com agent will explain all of the options
to you.
STEP #7
ELVES AT WORK
While the lender is working on your loan commitment, your Homefinders.com
agent is preparing your purchase for settlement. Your Contract of Sale
will be taken to a title company in Frederick County and the title company
will begin the process of ordering a copy of your title and all of the
transactions recorded in the county for that property. Once the title
is searched, the report will be sent to the title company and they will
make sure that the title can be conveyed to you with no encumbrances.
The title company will also order a survey of the property in Frederick County that you have under contract. You'll receive a copy of the survey at settlement. The lender will order an appraisal of the property. The purpose of the appraisal is to make sure that the property is equal in value or more than the purchase price of the home. While the appraisal protects the lender, it is also protection for you, the home buyer. Your Homefinders.com agent will order the termite inspection. You'll be protected by contract in case of infestation or repairs do to wood destroying insects. If the property is on well and septic, the well water will be tested to make sure it meets county standards for safety.
STEP #8
HAZARD INSURANCE
It's time to order hazard insurance. This is a condition of your mortgage
loan. You can select the insurance company of your choice. Often you'll
get a discount if you also insure your automobile with that insurance
company. Homefinders.com will recommend an agent if you don't have one.
Title work is completed. Survey is completed. Appraisal is completed. All of the verifications for your accounts, employment are in. . . . . Your loan is approved, settlement can take place on the date agreed in the contract.
STEP #9
LET'S GO TO SETTLEMENT
The lender will send the new Deed to the title company along with the
Deed of Trust and the money to fund your loan. You will bring a Cashiers
Check for the down payment and closing costs according to the Good Faith
Estimate provided by your lender when you made the loan application. The
title officer or attorney will explain all of the documents prepared for
your signature and collect your closing money. The seller will sign the
Deed and give you the keys to your newly purchased home
in Frederick County. Your Homefinders.com agent will accompany
you to settlement and make sure everything is in order.
WELCOME HOME.
Frederick County Real Estate
A part of the Homefinders.com Network