Maryland's Property Team

Step 2- Develop Your Customized Home Buying Plan

Schedule a FREE No-Obligation Confidential Consultation

  • 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