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Frequently Asked Questions
About the First-Time Home Buyer Tax Credit
The Federal Housing Tax Credit can be applied as a down-payment, but not all banks are doing it. Click the link to get information. Find out from your bank if they can! This is an excellent resource for first-time homebuyers with limited funds for a down-payment.
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The Right Real Estate Agent For You |
Finding the right real estate agent can be the difference between a happy, stress-free home buying or selling experience, and an unhappy, stressful experience.
First, you'll want an agent with the experience needed to know the local neighborhoods, schools, market conditions, ordinances, etc. With my years of experience in the local market as an appraiser and agent. I have the expertise and passion for real estate!
Second, you'll want an agent that is open, expressive, and wants to help you with your goals of homeownership. Somebody you are comfortable with, which may take a couple meetings to really get to know one another, to form a level of trust.
Third, you'll want an agent who embraces the convenience of technology without losing the personal touch. You'll love the resources available on my website, my office website Brin Realty, and the e-mail alerts that I send, but these will never replace the time I spend with you, serving as your personal guide through this exciting process.
Fourth, I am a REALTOR®. REALTORS® are pledged to a strict Code of Ethics and Standards of Practice. Working for America's property owners, the National Association provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property.
I look forward to meeting you and talking about your goals and expectations for both you and I. Let's get together and talk.
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Call me at 603-305-1922, or send me an e-mail: J.Cote@BrinRealty.com.
We'll set-up a time that is easy and convenient for you to meet. |
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Step - 1 Make the Decision to Buy |
It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income.
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Step 2 - Seek Professional Guidance |
| I'd like to schedule a time to meet with you to hear the reasons you want to buy a house and your plans for the future. We'll talk about neighborhoods, schools, economic factors liable to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you.
Get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.
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Step 3 - Begin the Hunt |
| After our initial meeting, I'll search all my resources for houses on the market that fit your criteria. I'll preview these houses to eliminate the duds. Then, I'll schedule appointments to tour the houses at times convenient to you.
As we tour houses, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the house of your dreams.
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Step 4 - Know the Market |
| My knowledge of the local market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.
As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge will keep you a step ahead of the "house hunting competition".
In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.
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Step 5 - Find Your Dream House |
| I'm confident we'll find your dream house. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).
The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).
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Step 6 - Negotiate the Deal |
| It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.
Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.
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Step 7 - Get a Loan |
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During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. I'll gather the necessary property information your lender will need to close the loan.
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Step 8 - Close the Deal |
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You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs.
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Step 9 - Move In |
| Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. |
Licensed in the State of New Hampshire
Be sure to check out my appraisal site: JACoteAppraisals.com
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