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FREDERICK COUNTY MD REAL ESTATE

FREDERICK COUNTY PROPERTY TYPES

ABOUT REAL ESTATE AGENTS IN FREDERICK COUNTY

FINANCING YOUR HOME PURCHASE IN FREDERICK COUNTY, MD

ABOUT THE MARYLAND REAL ESTATE CONTRACT, DISCLOSURES and INSPECTIONS

EDUCATION IN FREDERICK COUNTY

RESOURCES FOR FREDERICK COUNTY BUYERS

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Phone: 301-704-6964

Homefinders.com
Broker: Lenn Harley
Lic. MD & VA
MD Lic. 303829

© 2001 Lenn Harley

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Frederick County Blog

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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
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.

agentsSTEP #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