Buying Brattleboro Area Real Estate
Many homes - little effort!
At any given moment, there are hundreds of homebuyers actively seeking just the right home to purchase in our area of Southern Vermont and New Hampshire. Most qualified, motivated buyers choose to work with an agent. They do so because they understand that most of their counterparts - sincere, motivated sellers - have listed their homes with an agent. They know the agent can show them virtually any home currently for sale in the marketplace.
These desirable buyers also understand that, because most agents are paid by the sellers, they will not be paying a fee to the agent in exchange for the many services provided them. They can choose from a wide selection of fairly priced homes, are able to secure financing, and save days or even weeks of time-consuming searching, all at no cost to them.
For sellers, the agent is able to supply a ready supply of buyers. Occasionally, when an agent lists a home, the buyer is provided in a matter of days from a reserve of buyers who are already looking and ready to make a decision.
On the contrary, homeowners selling "by owner" have no reserve of buyers. They are new to the real estate business, and must establish their own contacts. They must compete with many agents who often spend seven days-a-week serving their clients and customers with a wide range of services. Often, it is only the tire-kickers, bargain hunters, and other less-than-motivated buyers who contact the "by owners."
Home sales are usually the result of long hours and days of information gathering, price negotiation, and detailed follow-up by a dedicated real estate agent. Serious buyers and sellers both appreciate the effort and enjoy the benefits.
Talk to us! If you have questions about the process or would like to begin your home buying journey, we are your local experts!
Ready to start looking for that dream home?
An important translation that can make a difference!
Are you familiar with the Latin term “caveat emptor”? If you plan to buy a home, you should be!
When taken literally, "caveat emptor" means, “let the buyer beware.” It’s obviously a term from another age, yet it offers meaningful advice to today’s homebuyers as well. In the real world of home buying, it might be interpreted more meaningfully as “Take responsibility for your actions.”
When buying a home, sellers (and their agents) are obligated to treat you honestly and fairly. They must also disclose any known material defects in the property being shown. That being said, it is also wise for buyers to know how to ask the right questions.
Before beginning your home search, prepare a list of questions that might include:
- the age of the home
- construction concerns
- recent repairs
- local zoning
- plans for future development in the area
Take along a note pad, and ask the real estate agent or owner for clear, concise answers. The time to learn details about a home’s suitability for your family is before you buy - not after.
A home inspection, performed by a qualified individual, is well worth the modest cost involved. The inspection may reveal previously unnoticed flaws or needed repairs, or provide reassurance that the home is well worth the asking price. Either way, homebuyers become well informed about their future home, making the purchase decision easier.
Ready to buy your Brattleboro home? Don't hestitate to contact us - your local experts at Brattleboro Area Realty. We are happy to help you navigate the process with ease, efficiency, and trust.
Haven't found your dream home just yet? Check out Southern Vermont and New Hampshire real estate here!
Make a Powerful Offer with a Commitment in Hand
Below, learn more about 2 powerful financial tips you can employ when buying your next home. If you have additional questions about the home buying process, contact us - your local experts at Brattleboro Area Realty
First - offer sellers cash for their home. No, no, not your cash - the lender’s cash. This gets the sellers’ attention. Before looking at homes, ask the real estate agent to set a “pre-qualification” interview with a mortgage lender.
The lender will ask about your employment, income, and debts, then estimate the maximum mortgage for which you qualify. Subject to verification, of course, the lender can then offer a “conditional commitment” for a specific loan amount.
With this commitment in hand, you have greater purchasing power with property owners. Sellers are certain to prefer a solid pre-qualified buyer to a cold prospect. To them, your purchase offer can carry the same weight as a cash offer, improving your bargaining position.
Second - Earnest money. When making a purchase offer, most buyers offer the smallest acceptable deposit. Property owners may hesitate to accept such an offer when secured with a mere $300 or $500 deposit. To let buyers know you’re committed to completing the purchase, offer $2,500 or $5,000, or even more as earnest money.
Insure a sale for the property owners by presenting yourself as a “cash” buyer accompanied by a substantial earnest money deposit. Increased buying power will be your reward.
Ready to start looking for that dream home?
Do your "home" work for fast approval!
Home buying is an exciting adventure - once your mortgage is approved. By following a few simple steps, you can breeze through loan approval, and be on your way to moving day. If you have additional questions about the home buying process, contact us today!
- Begin by reviewing your credit record. You can obtain a copy (for a nominal charge) by phoning the local credit bureau. Be certain all items shown are accurate. If errors appear, correct them before loan application. It saves time, and eliminates unnecessary explanations.
- If making a downpayment, be sure the funds you will use are reflected on your bank statement. Lenders generally want to know not only how much cash you have, they also want to know where it is right now. The more documentation you take to your application interview, the faster loan approval will be granted.
- Let your employer know they will be receiving an employment verification request from the lender. Ask them to respond promptly, if possible. Loan delays can often be traced back to employers who are slow to respond to this request.
- Gather information on all income and debts, including statements, account numbers, and creditor addresses. All will be verified by the lender, thus providing a detailed accounting up front will also speed the process.
Mortgage lenders deal with facts and figures, and respond positively to applicants who respect their requests for information. For a fast, successful loan approval, provide all the details.
Ready to start looking for that dream home?
Take a number - appointments work better!
Walk unannounced into your doctor's office and what is the first question you will hear? "Do you have an appointment?" It's a logical question because the doctor is highly trained and must work in an organized manner. A doctor's time is spent not only seeing patients, but also researching, diagnosing, and treating their medical concerns.
In real estate, the agent also works in a logical organized manner. When contacted by prospective buyers, the agent is likely to ask the prospects to make an appointment to discuss their buying objectives.
The first meeting is a time for open discussion about the buyers' plans. Preferred locations are noted by the agent, as well as the style, size, and price range desired. The information shared by both agent and buyers leads to the next step - research.
The agent begins the process by researching the local market to identify homes that meet the buyers' requirements. This can take from several hours to several days. The agent may then preview selected homes to further determine their suitability.
Next, an appointment is set to view the homes that most closely match the buyers' objectives. This requires the agent to make contact with many different sellers, creating a complex schedule of viewing times and appointments.
The best real estate agents have great respect for time. By making advance appointments, they can save many hours, even days, of inconvenience to buyers. When buying your next home, choose an agent carefully, and then make an appointment. Your home buying dreams will come true.
Talk to us - if you have questions about the buying process or would like information about the market, we are here to help!
Your ultimate goal and how to make it happen!
Once you decide to purchase a home, you're also likely to begin asking, "How soon can we move in?" As homebuyers, you can influence the answer to that question in two ways:
1. When you make your purchase offer to the sellers, spell out in the agreement the date you expect to take possession of the property. This date is often expressed as it relates to another important activity - the date the transaction is completed. Thus the "possession" date in the contract may state "at closing" rather than being a specific date such as "August 1, 2006."
This wording is used because sellers are not likely to give up their property until they have been paid in full "at closing." Thus, your possession date is tied to the date sellers are paid, and you receive title to the property - the “closing date.”
This date will be expressed as a specific date in time, i.e. 8/1/06. Thus, if the transaction closes on time, the possession date - "at closing" - would also be August 1, 2006.
2. You can influence the punctuality of the closing date by cooperating fully with the agent, the lender, and any attorneys involved. For instance, organize your financial information before making loan application. By providing complete and accurate information about employment, debts, and credit history, the lender may be able to speed up loan approval.
Expect the agent to follow-up on home inspections, appraisals, and a final walk-through inspection. Also, expect to receive updates from the agent to let you know that the closing will be completed on schedule.
Questions about buying real estate in Vermont or New Hampshire? Don't hestitate to contact us - your local experts at Brattleboro Area Realty.