PORTLAND, Maine (NEWS CENTER) - This is the perfect storm for buyers. Lower prices, excess inventory, and Historic rates ... so lets dig into the Process from the Buyers Perspective with Chris Saladino from Ocean Gate Realty.
Prep, Search, Offer, and Close
The Prep Stage is about picking your partners
; your representing agent and your lender.
You have other partners throughout the process but those you
'll choose once as you find a property you want to buy.
4 Stages of Buying
And so then Stage 2 is where you dig in?
Yes. The Search stage is about reviewing and previewing properties
As you compare and see properties you'll connect current market values with your wants
and needs list. This stage will help you focus on what really important and you'll discover your must haves.
So I find a property I want to buy....then....
Stage 3 you and your agent will prepare your offer. That includes, what you buying, how much you want to spend and what contingencies you want to include.... building inspection.....
At what point is it a contract and when do I start packing.
That's Stage 4 the Close
This is where you complete the Requirements of the Contract... building inspections....Choose a title Company, you loan is finalized by underwriting ending with a "clear to close" . At the closing you sign lots of papers, grab the keys and the Place is yours!
Once You're Under Contract
? Complete Requirements of the Contract
? Execute Contingencies
? Finalize Lending
? Grab the Keys!