Buyer Tips
Buying a home is probably the biggest financial commitment you'll ever make. To assist you in the process, Kirnan Real Estate Home Services has everything you need. So whether you're a first-time buyer or need a brief buying refresher, let us help you through it all.
Automatic Email Notification- My Kirnan.com
Waiting for that perfect home to come on the market? Enroll today and you will be immediately notified when a property hits the market that matches your criteria.
7 Steps to Buying A Home
1. Conduct a preliminary search with Kirnan Real Estate Property Finder.
2. Contact a loan officer and get your mortgage pre-approved.
3. Contact a Kirnan Real Estate sales associate to look for a house in your price bracket (and/or to list your current home if you also want to sell). Then begin looking for a home with your Realtor. Take notes so you can evaluate and remember the differences between each home you see.
4. Once you find a home you want to make an offer on , you'll sign a purchase agreement and give the seller earnest money to seal the deal. If your offer is accepted (sometimes with contingencies), determine a date you wish to close and have the house inspected to ensure there's nothing seriously wrong with the property.
5. Notify your loan officer that you've found a property so they can begin the appraisal and title process. And, lock in your interest rate. Your loan officer will send you a new good faith estimate which shows your monthly mortgage payment as well as your estimated cash needed for closing. Your attorney will notify you of the time and date you close on your home and the items you'll need to bring to closing.
6. Notify your phone company, utilities (don't forget water and sewer), moving company, post office, newspaper, magazines, friends and family.
7. Pack and move!
Free Home Buying Seminars
Whether you are buying your first, second or tenth home...get professional buying advice and
inside tips from our Kirnan Real Estate experts.
No money out of your pocket, so register now and learn everything you need to know
about buying your dream home.
Call and ask for Sandy Kirnan at 315-457-3356 X 102
or E-mail us for more information
How Much Home Can I Afford?
A quick look at your finances and what you can afford, the benefits of equity, what tax advantages you have as a home owner, and getting pre-qualified and approved. Check out our Pre-Qualification Calculator.
Making An Offer
Time for nervous anticipation. You've found the home you want, and your Kirnan Real Estate sales associate says you need to act fast. Yet you want to be as calm and objective as possible. The expertise a Kirnan Real Estate sales associate can give you at negotiating time is priceless.
Be prepared for counter offers. Don't let the pressure get to you. Remain patient, and let your Kirnan Real Estate sales associate act as your liaison with the seller or the seller's agent. You may need to be flexible on price, closing date, appliances and repairs.
Beware of putting contingencies in your purchase agreement. They weaken your offer. However, if you currently own a home, your offer may need to be contingent on your home selling. Or, if you're uncertain about the structural integrity of the home, you may want to have a home inspection contingency. Just be aware any contingency could take you out of the running if a non-contingent offer is presented.
Once your offer is accepted, be prepared to seal the deal with earnest money . Earnest money is usually a percentage of the home's purchase price that indicates you're serious about the purchase and indicates your good faith. It's generally applied to the purchase price when you complete the purchase, but may be forfeited to the seller if you fail to complete the purchase. Contact your sales associate to determine the amount of earnest money you should be prepared to pay based on your target home price.
Home Inspection and Service
"Beauty is only skin deep" is especially true for houses. A fresh coat of paint or new carpeting may disguise serious flaws. That's why you want to make sure a professional inspects your new home. And to protect your most valuable investment, be sure to have homeowner's insurance.
Home Inspection
A professional home inspector surveys the foundation and structure, roof, exterior, major systems (electrical, heating, cooling and plumbing), and appliances that will stay with the home.
Tour the house with the inspector, who will point out potential trouble areas, as well as what's "sound." If the inspection does turn up some flaws, a seller is often willing to make repairs, but it may depend on market conditions.
Take notes as you tour. Get the inspection report in writing. This document will support or deny the contingency addendum to your agreement.
You can add a home inspection contingency to your purchase agreement. This requires the seller to make legitimate repairs - or if the seller is unwilling to do so, it allows you to cancel your agreement.
Homeowner's Insurance
Your home typically is the single biggest investment you'll ever make and by protecting it with homeowner's insurance you'll have financial protection against the unexpected. Aside from protecting your home and your possessions, it provides you with liability coverage.
What to Expect at Closing
You're finally in the home stretch. You've signed a purchase agreement. All required documents and contingencies are met. It's time to close on your new home! Closing (also called the settlement) usually takes place at the bank's attorney's office or a local court house. Your attorney will supply you with the date, time, and location of the closing. Your bank should supply you with the amount of funds needed to bring to closing. Your real estate agent should schedule a final walk through the property and have keys available for you at the time of closing. Your patience and hard work has paid off, you may now join many proud homeowners in Upstate New York!
