Step 2- Develop Your Customized Home Buying Plan

Step 2- Develop Your Customized Home Buying Plan

• Specific home search criteria
• Location
• Price range
• Property type
• Detached
• Townhouse
• Condo
• # of bedrooms
• # of bathrooms
• Square footage
• Lot size
• Community amenities
• Lifestyle features
• Specific needs to even considering purchasing
• Wish list
• A timeline to get you moved in according to your schedule
• Research market
• We recommend approximately 6 months ahead of desired move in date
• View houses
• According to the National Association of Realtors, the average buyer spends 10 weeks looking at homes. Of course, this can vary greatly from buyer to buyer.
• Go under contract
• If there is a loan involved, will probably need at least 30 days to go through the mortgage process
• Desired closing date
• In Maryland you legally own and take possession of property at the end of settlement
• Customary for a closing date of 30-60 days from contract acceptance but always negotiable
• Make sure you are aware of the best available financing options
• Foundation for your negotiating position with sellers!
• Sellers are unlikely to consider an offer without proof of financing
• Proof of financing tells sellers that you are ready, willing and able to purchase
• How are you planning on financing your purchase?
• Proof of funds
• Pre-approval letter
• It does not cost anything to get pre-approved by a mortgage professional
• We can recommend professionals if needed
• Most approvals allow you to search for several months
• Recommend shopping options
• Will not hurt your credit!
• Truth-in-Lending RESPA Integrated Disclosure - TRID
• Loan Estimate
• Know before you owe
• https://www.consumerfinance.gov/owning-a-home/loan-estimate/
• Funds needed for your down payment and closing costs
• Monthly mortgage payment
• Principle
• Interest
• Taxes
• Insurance
• Costs to consider when purchasing
• Utilities
• Electric
• Heating/Cooling
• Water
• Sewer
• Homeowners association or condominium fees and inclusions
• Special assessments
• Front foot fees
• Inspections
• Moving costs
• Move in repairs
• What if fund
• Recommend speaking with your accountant about tax advice!

Next: Step 3- Searching for Your New Home- Be the 1st to know about properties coming on the market. Ensure you see homes the 1st day on the market.

Our Team's Exclusive 10 Step Guide to Home Buying & Buyer Services Guarantee- Maryland's Property Team guarantees that you will fully understand the home buying process, be the 1st to know about properties coming on the market & ensures you will see homes the 1st day on the market!

• Step 1- Our Initial Buyer Interview- Discuss your needs and how our team can help you achieve your goals. What are you looking for in a real estate broker?
• Step 2- Develop Your Customized Home Buying Plan- Define your specific home search criteria. Make sure you are aware of the best possible financing options.
• Step 3- Searching for Your New Home- Be the 1st to know about properties coming on the market. Ensure you see homes the 1st day on the market.
• Step 4- Showing Appointments- Always present and looking out for your best interests. Honest professional 3rd party opinion of properties.
• Step 5- Select 'The One'!- Provide additional information to assist you in your evaluation of properties. Detailed look at the specifics.
• Step 6- Negotiate the Purchase Agreement- Inform you of negotiation strategies. Structure the offer to your advantage.
• Step 7- Plan from Contract to Closing- Inform you of important dates & deadlines. Access to our network of real estate related services.
• Step 8- Guide the Purchase to Closing- Track completion of all contingencies. Any help that you may need.
• Step 9- Settlement- What to expect at settlement. What all documents are signed and the funds exchanged the property is yours!
• Step 10- Turning Your House into Your Home- Our service to our clients does not end at the settlement table. Always available for any real estate needs you may have in the future.

Schedule a FREE No-Obligation Confidential Consultation- At our consultation we will discuss your needs and how our team can help you achieve your goals, develop your customized home buying path to success and set up your instant home search instant alerts.

Adam Heimbach - Real Estate Broker, REALTOR®, GRI

Direct: 410-212-4898

[email protected]

David Weiss - Associate Broker, REALTOR®

Direct: 410-703-2363

[email protected]