For Buyers

 

TIPS & TOOLS FOR BUYERS



Finding just the right Vermont property can be very challenging. Whether you want to buy a modern home or a centuries-old farmhouse with outbuildings, there are several factors to consider as you begin your real estate search. Being prepared to start your search will make the entire process less troublesome for yourself, the home owners and the realtors involved. Here are a few tips that may help you in your search for the perfect home for you.

 Know what you can afford and get Pre-Approval from your banker (see our mortgage calculator below.) Your banker will figure your total annual income and, depending on the type of mortgage you choose, set a monthly payment that is generally 25-30% of income. If you are a first time buyer, a letter of pre-approval signals the seller that you are a serious buyer and will be able to purchase their property.

 Know what you want. Discuss your needs with your family. Make a list of the absolutely essential items that you must have in a new property. Also write down the things that you want to avoid. Then draw up a wish list of additional things you would like to have, but are not necessities, and prioritize them. This will be a big help to your Realtor.

 Do your homework.
It's easy today to research properties on your computer to learn all about the house, the neighborhood and the schools. Listings should show pictures of the exterior, interior and views from the property, giving you a good sense of the property before you go to see it.

 Find a good Realtor to guide you in selecting professionals, such as lawyers, appraisers, property inspectors, architects, builders, landscapers etc.The relationship we forge with our clients doesn't end once the paperwork is signed.

 Before you sign a contract, have the property inspected. You may also want to have it appraised and specify that you will not pay more than the appraised value. Make it very clear what must be replaced or repaired, or ask for a price reduction in the amount of the faulty item and have it fixed after the sale. If these contingencies have not been met, the sale should not proceed.

 Request a walk-though.
This should take place within 24 hours of the closing. Check to see that everything that was to be included with the property is still there. Take special note that the property is completely vacant and clean.

 Read everything carefully and never sign anything that you do not understand.
If there are words or terms that you are not familiar with, ask your Realtor to explain what they mean and how they could affect you.

 Use our Mortgage Calculator to help see what your mortgage payments might be: http://www.brooksbarron.com/mortgage-calculator.php


If you are buying or selling an older home, information from the National Trust for Historic Preservation can help make your transaction greener.  Go to http://www.nytimes.com

Link to Energy Star for more energy efficient products and practices: http://www.energystar.gov/

Link to EPA's Home Buyer's and Seller's Guide to Radon: http://www.epa.gov/radon/pubs/hmbyguid.html

Link to a glossary of real estate terms:  http://www.realestatewords.com

Finding the perfect property for you and your family may feel like a daunting task at first, but Brooks Barron at Four Seasons Sotheby's International Realty is here to help you each step of the way. Rather than spend hours in front of the computer gathering information from every angle on the schools, the properties and the weather, call us with any questions you have. We are here to make your search simple.


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