BUYER'S GUIDE
Step 1 - Buyer Consult
- Analyze your needs in a consultation.
- Find a Realtor you can trust and sign buyer representation agreement.
- Obtain financial pre-approval.
- Select and view properties.
Step 2 - The Offer
- Write an offer to purchase. Negotiate and/or counteroffer, if needed.
- Accept the offer to purchase, signed by buyer and seller.
- Earnest deposit due with accepted offer.
Step 3 - In Contract
- File a formal mortgage application with your lender.
- Inspections (CT within 14 days of signed purchase and sale contract, MA & RI within 10 days). Home inspections average $400-$500. If the property is on well and septic budget $800-$1000 for total inspection money.
Step 4 - Post Inspections
- Your lender will order an appraisal of the property after completed inspections.
- Choose a closing attorney. Your lender and Realtor can make recommendations.
- Review condominium documents when applicable.
- Obtain mortgage commitment letter.
- Closing attorney orders title search.
Step 5 - The Closing
- Lender issues a CTC (clear to close).
- CD (closing disclosures) will be issued a minimum of 3 days prior to closing.
- The attorney’s office will call and arrange a closing day and time. They will also let you know if a bank check is needed and for how much.
- Transfer utilities for the day of closing.
- Close on the property.
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