Steps to Buying a Connecticut Home.

By
Real Estate Broker/Owner with DMK Real Estate Ct RE Broker 0789963

Steps to Buying a Connecticut Home.

Find the right Realtor® for you.

The most important step in buying a home is deciding who to hire as your Realtor®. Not all licensed real estate agents are Realtors®. A Realtor® is a member of the National Association of Realtors® (NAR) who subscribes to a strict Code of Ethics and are required to take a certain number of continuing educational courses. Along with that NAR provides advanced educational and professional requirements to  Realtors who can earn specialty designations from NAR such as Accredited Buyer’s Representative, Short Sale & Foreclosure, Resort Property Specialist just to mention a few. When you pick your buyer’s representative Realtor® look at their:

  • Experience and Credentials
  • References
  • Knowledge
  • Services Provided
  • Personality
  • Compensation

Once you pick your Realtor® they will become your buyer’s representative which involves signing a buyer’s agency agreement. With this agreement comes fiduciary duties that your Realtor® owes you. This means that they will protect your confidential information, act in your best interests, adhere to specific responsibilities, obligations and provide a high standard of good faith and loyalty.

Your Realtor® will work with you and:

  • Learn about your needs and requirements of a home.
  • Educate you about the local housing market.
  • Answer questions about the neighborhood and community.
  • Guide you through the home buying process, documents and paperwork.
  • Negotiate the best terms for you.
  • Make sure deadlines are met.
  • Coordination of inspections and services
  • Mediate any issues
  • Keep things on track the process moving forward.
  • Recommend quality support services such as attorneys, mortgage professionals, home inspectors, etc.

 

Build your team. Attorney, mortgage broker/banker, home inspector, contractors, insurance agents.

Start putting together your list of supportive professionals that you will need as part of your team for purchasing a house. Your Realtor® can help you with this but as well ask friends, family and work colleges for additional recommendations ahead of time so you do not have to rush at the last minute. This will also help you with your budget and cost associated with buying a home.

Get a mortgage pre-approval

Before even looking at homes get a mortgage pre-qualification or pre-approval from your local mortgage professional. This will be done at no cost to you but will give you a clear number on what you can afford and qualify for. As well your mortgage professional can explain the different mortgage programs and plans along with rates and cost. Another key point is to know your credit status; you can a get a free credit report every 12 months from each of the three major reporting bureaus.

Determine your needs & wants.

What are your needs, close to public transportation, bedrooms and bathrooms, square footage, garage, etc. Along with this determine locations, neighborhoods, house style & features, lot characteristics, specific features at home (i.e. fence for pets, in-law suite, and children). This list will help you search for properties that fit your basic requirements in a home.

Your wants or wish list are different, they can be compromised if necessary such as finished basement, fireplace, additional square footage, updated kitchen, etc…

Start looking at homes.

With today’s internet it is easy to start looking; Realtor.com has the most up to date list of homes for sale or rent. Along with that drive through neighborhoods, check out community amenities, research local schools and household demographics. Talk to friends, family and work colleges they might know of a house not on the market yet. If you find a home you like talk to the neighbors, remember just ask the more information you have the better of a decision you can make. As you view homes keep a comparison list to help you decide what is the best home and price for your specific lifestyle.

Time to make an offer

Now you have found that home, pull up comparison properties that have sold plus use the other properties you have viewed to come to a sound offer. Figure out your contingencies, building inspection, other inspections such as well & sewer, mortgage contingency, etc.

Home Inspections, Obtaining Mortgage, Insurance, Attorney Review & Title Insurance.

Once your offer is accepted it is time to hurry up and get all your inspections done, if need be get quotes on major repairs. Contact your attorney so he can review the contracts, get house insurance quotes and get your mortgage professional on the move regarding the mortgage application, appraisal and all of your documentations. Start comparing quotes for movers and book them early, use a moving checklist. You will also want to contact the Utility companies and have the accounts moved into your name on closing day.

Closing ~ Final Walk through, prepare for closing costs, finalize mortgage, and get ready to move.

Day of closing do a final walk through of the home and property with your Realtor® to make sure there is no damage. Make sure you have enough money for closing, closing costs can add up, your mortgage professional and Realtor® can help you with this.

Congratulations you are now a homeowner.

*****

For more detailed step by step guideline and information click on link to get a FREE Home Buyer’s Toolkit from the National Associations of REALTORS® REBAC website. There you can find local Accredited Buyer’s Representatives (ABR) Realtors® who specialize in representing home buyers.

Buyers and Sellers looking for step by step assistance in Fairfield County contact David Popoff at DMK Real Estate in Darien, Connecticut.

 

For further tips and advice for Connecticut home buyers and sellers check out these links:

Home Selling Tips & Advice. 

Selling Your Home Should You Improve or Not? 

Pay Back on Green Home Improvements. 

FSBO vs Realtor®, Which One Will Get You More Money? 

Property Tax Mill Rates for Fairfield County, Connecticut ~ 2014. 

Big Connecticut Rebates For Energy Efficient Renovations & New Homes. 

Pre-Qualification vs. Preapproval Mortgage Letter. 

FAQ’s about Appraisals for Home Buyers.

What Are Connecticut Condo Resale Certificates, Bylaws & Declarations? 

What is the Connecticut Real Estate Home Buyers Agreements?

Should You Buy That Fixer-Upper? Best Tips from 30 Realtors®. 

Home Staging = More Traffic and Sales. 

Biggest Home Seller Mistakes  

Posted by

David Popoff
Connecticut Licensed Real Estate Broker
Realtor® Green
Seller Representative Specialist
Accredited Buyer Representative
candidate
LEED AP Homes

 

DMK Real Estate, Darien, CT.
Cell (203) 228-0646
DMKrealestate.com

 

 

 

DMK Realty, 06820 

 

 

 

 

Facebook    Twitter    Linked in

 

 

 

  AFFILIATED ORGANIZATIONS

click on logo to go to website

 

                                           

                      

 

 

 

Find David Popoff Ct on Google+
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Connecticut Fairfield County Stamford
Tags:
buying a home
ct homes for sale
dmk real estate darien ct

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,440,497
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

David the success of a buyer getting into a home is dependent on the real estate professional they choose. If they follow the guide you offer it should be a smooth flowing deal.

Dec 16, 2014 10:34 PM #1
Rainmaker
756,524
David Popoff
DMK Real Estate - Darien, CT
Realtor®,SRS, Green ~ Fairfield County, Ct

Thanks Ed, someone once said "a well informed buyer is our best customer".

Dec 16, 2014 10:42 PM #2
Rainer
82,233
Randy Kirsch
Right Trac Financial Group, Inc., NMLS# 2709 - Manchester, CT
(NMLS# 1012303) Your Dedicated Mortgage Consultant

David, good post and comprehensive.  Things may change a little on 8/1/2015 when the new TILA-RESPA Integrated Disclosure Rules take effect as those last minute negotiations resulting from the walk-through, etc., may trigger a need for new disclosures and a delay of the closing.  Lenders are being put on the hook more and disclosures need to be made 3 days prior to closing.

Dec 17, 2014 04:30 AM #3
Rainer
1,756,848
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

Hi David.  Having an experienced team of experts is essential to a smooth home buying experience.

Dec 17, 2014 08:19 PM #4
Rainmaker
803,032
Barbara Altieri
RealtyQuest, Fairfield and New Haven County CT Real Estate - Shelton, CT
REALTOR-Fairfield County CT Homes/Condos For Sale

Nice guide, David.  Having a plan to follow keeps everything on track and educates the client thus reducing anxiety. Well done.

Jan 03, 2015 10:38 AM #5
Rainmaker
994,629
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

David

What a thorough explanation for buying a home there. Your experience shows. cheers cvc

Jan 05, 2015 11:57 PM #6
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
756,524

David Popoff

Realtor®,SRS, Green ~ Fairfield County, Ct
Need Help? Ask me a question.
*
*
*
*
Spam prevention

Additional Information