12 Steps for Home Buyers

So, you want to buy a house. Buying a house can be a very exciting, emotional, confusing, and even scary venture. We at Country Sun Realty are here to help guide you through the complete process. With Country Sun, you can be confident you are doing the right thing, and you are never in this alone. Whether it's your first, second, or third house, we can guide you through the process like we have done thousands of times before.

The First Step:
You have already taken it. You have visited our Web Site.

The Second Step:
Legal Matters - The Department of State has mandated that all buyers (and sellers) sign a New York State Agency Disclosure Form, which lets everyone know who we, as agents, are working for.

The Third Step:
Your Wish List - AKA Wants and Needs. Sit down and write all of the things you would like in your ultimate dream house. Nothing is too big or too unimportant. Remember, this is only a wish list. Now, take a good look at it, and decide where you would be willing to compromise. For example, maybe a garage is more important than a pool. Separate your wants from your needs. What do you really need in a home - number of bedrooms? Baths? Etc.

The Fourth Step:
Finances. Our agents can pre-qualify you based on the information you give us regarding your income and debts. We will have to ask you some personal questions in order to determine how much house you can afford. Determining your price range will help you with the home selection process. This information is kept strictly confidential. However, the best way for you to determine your price range is for you to get in touch with a Mortgage Specialist who has knowledge of all of the different financing programs that are available and who may be able to determine the best mortgage program for your specific needs. A Mortgage Specialist can get you started on an approval for a mortgage even before you start your home search. if you get a pre-approval, you will know exactly how much you can spend on your new home, taxes, insurance, etc. This information should make you more comfortable when making your selection. It also gives you an edge at the bargaining table. A copy of the pre-approval will need to accompany your purchase offer.

The Fifth Step:
The Search. We can show you any home that is listed in the Greater Hudson Valley Multiple Listing Service - regardless of which broker the property is listed with. We can provide you with information on literally thousands of properties. If you see a home that interests you, we will be more than happy to arrange for a showing. Again, the house does not need to have a Country Sun Realty sign in order for us to show it to you. We are a member of the Greater Hudson Valley Multiple Listing Service System and we can show you any houses in that system listed by any real estate broker. If you see an ad in the newspaper, real estate magazines that you find in the grocery store, see a house with a sign, have questions or want any information, call us... we will get you the information you need.

The Sixth Step:
Purchase Offer. You have made your selection, now you will have to make an offer on the house in writing. We will fill it out together, and then you can authorize us to begin negotiations. At that point, a few things can happen - your offer can be accepted the first time, or completely rejected. A counter-offer might be made, in which case you would have the choice of accepting the counter-offer or making a different one. The more realistic the buyers and sellers are when making offers, the faster and easier acceptance will be.

The Seventh Step:
Offer Accepted. The next thing you will need is a Real Estate Lawyer. Select one, call him/her and tell them you have just had an offer accepted on a house. Listen to what they have to say, and be as cooperative as possible. The lawyer is there to protect you when contracts are written.

In the meantime, you should have the house inspected by an inspection company to be sure the house is sound and termite-free. The Inspection Company will go through the house with you and check out everything from the attic to the basement. The inspector will make sure everything is in good working order. Some companies will even give you a rough estimate as to how long an appliance, roof, or heating system may last. They even show you how things work. When their inspection is done, they will send you a written report.

The Eighth Step:
Signing the Contract. The seller's lawyer will prepare a contract of sale for your attorney to review and for you to sign. This is when you have to put down the deposit money on the house. The contract will spell out the terms of your purchase agreement, closing date, mortgage contingencies, what stays with the house, and what the sellers are taking with them.

The Ninth Step:
Mortgage. You will need to formally apply for your mortgage if you have not done so already. If you did not go through the pre-commitment state you will need to get a mortgage now. See a Mortgage Specialist. Be prepared. They will ask you for personal financial paperwork, and it is important to get it to them as quickly as possible.so everything goes smoothly. Yes, just when you think they couldn't possibly ask you for another piece of paper, they will! When the mortgage is committed, you will get a phone call and follow-up letter containing more paperwork to sign and a good-faith estimate as to what the closing cost will be. The mortgage company will also inform you that you need to get homeowner's insurance.

The Tenth Step:
Title Search. The mortgage company requires that the home you are buying is free from any liens or encumbrances. A title search is done for your protection. This is one of those items that your lawyer usually orders. You would not want to move into your new home only to find out that someone else has a lien or some other right to it. After the title search is done, you will be required to purchase title insurance. This is a one-time charge, and protects you against anything the title search might have missed.

The Eleventh Step:
Closing. Everything is in place. You have your mortgage, contracts are all signed. You arrive at the designated closing office with your insurance binder and certified checks in hand. Your lawyer will tell you how much and to whom the checks should be made out to. Your heart is beating with pure excitement. Then you will sign so many papers you worry that your arm might fall off, but after a few hours it is all over. You are now the proud owner of your new home.

The Twelfth Step:
Moving. You are all packed up, have everything triple-checked, and the moving van is ready. Go enjoy! You will be tired at the end of the moving day. Sit down and put your feet up- you deserve it.

Congratulations -- may we be the first to wish you the best of luck and happiness in your new home.

-The Staff of Country Sun Realty