 Great Barrington, MA 01230
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A licensed real estate salesperson will help you understand everything you need to know about the buying process. The process of buying a home or investment generally starts with determining your buying power; that is, your financial reserves plus your borrowing capacity. Your licensed real estate salesperson can refer you to lenders best qualified to help you. Start with an appointment with your regular bank, then compare! Remember, your new hometown bank is waiting to help you here in the Berkshires!
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Once you know how much you can and want to invest, the next step is to find the properties that most nearly fit your needs. This is the time to choose a real estate licensee. The Brokers at Apple Hill have many resources to assist you in your search. Sometimes the property you are seeking is available but not actively advertised in the market. It will take some investigation by your licensed real estate salesperson to find all available properties.
Your job is to make the final selection of the right property for you. This is when excitement and emotion run high. Your agent or facilitator can assist you in the selection process by providing objective information about each property. Here at Apple Hill, we have access to a variety of informational resources. We can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent or facilitator can help you determine which investigations and inspections are recommended or required.
With a negotiated agreement in hand, it is time to complete the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your agent or facilitator can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. Title indicates ownership of property. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your title company or attorney can help you resolve issues that might cause problems at a later date.
As soon as you are reasonably sure the property is right for you, the process of obtaining financing begins. Your agent or facilitator can help you in understanding different financing options and in identifying qualified lenders.
Minimize your relocation stress. Our office offers checklists, tips and more.
Finally, there is the closing, or settlement, as it is known in different parts of the country. Every area has its own unique customs. In some areas, the title or escrow company will handle this process. In other parts of the country, an attorney does it all. Again, your agent or facilitator can guide you through this process and make sure everything flows together smoothly.
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of an agent or facilitator!
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Copyright ©2011 by
Apple Hill Realty, Inc.,
All Rights Reserved.
Text, graphics, photographs and html code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without our explicit permission. Content is subject to the Federal Fair Housing Act of 1968 which makes it illegal to advertise "any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status or national origin; or an intention to make any such preference, limitation or discrimination." Property descriptions are subject to errors, omissions, unannounced price changes and/or availability. Care has been taken in preparing these descriptions, but no warranty is intended or implied. Purchasers must satisfy themselves as to the correctness of all statements.
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