The Buying Process

Do you already know where you want to buy? If you want a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? If you answered no to any of these questions, now is the time to start researching. In addition to looking for homes that interest you, also take note of any changes in asking prices. This could give you valuable insight into housing trends in specific neighborhoods and help you when the time comes to make an offer.

Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as some sellers won’t entertain offers from those who aren’t already prequalified for a loan. Michelle Mumoli will be able to refer you to her trusted team of lending professionals that understand the areas where you are looking. There are tons of programs available that can aid in assisting your down payment or lowering your interest rate right now and Michelle Mumoli has the best connections for you.

This should be the most enjoyable step of the entire process (other than moving in!). Michelle will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools and grocery stores.

Once you are out of attorney review, you  are officially under contract to purchase your home. You’ll send your first deposit and get the home inspected. Michelle can help you coordinate this with her trusted team of licensed home inspectors. Once the inspector produces the report, you can decide if there is anything that may require the seller to repair, you can also request a credit at closing in lieu of repairs. This is not the time to get a steep reduction on the sales price. There are sometimes extenuating circumstances that would make it impossible for you to repair or the sellers to come to agreement on a credit, your attorney and Michelle will advise as to how best to handle the situation from here. For buyers comfortable with the inspection report findings, we continue on with our scheduled closing date as stated on the contract. 

A couple of days prior to closing your attorney and lender will provide you with final figures to ensure you bring accurate required information to the closing table. Michelle will coordinate your final walk through with you and then you will head to sign documents to your new home.