Buying Tips

Know what you want

Buying a home is an important personal and financial commitment and is possibly the most important investment you will ever make. It is always a good idea to consider your options for buying a home based on the needs of your family. Important things to think about when considering buying a home is your job security to determine if buying is your best option.

Get Pre-Approved by your lender

Having a preapproval letter from your lender gives you the benefit of knowing what your purchasing power is when searching for a new home and shows the seller that you are serious about buying. The preapproval process is fairly simple and your lender should be able to tell you what information is required from you to get your preapproval.

Stay in communication with your broker

If you have hired a real estate broker to help you find your new home it is important that you have reliable and frequent communication with them. Your broker is searching for your new home and needs to be able to communicate with you when homes become available that match your particular needs. Good communication with your broker can make the difference in finding a home you want.

Common situations which delay closing

The Escrow Agent acts as a clearinghouse for almost all of the aspects of the transaction. If information or documentation is not provided in a timely matter, a delay in closing can occur. 

  • Prorating of oil or propane and the tank lease: It is the Seller’s responsibility to provide a receipt from their service provider, for the remaining fuel in the tank, as well as the current amount per gallon. Seller may provide the reading from the propane tank. Maximum capacity for the propane tank is 80%.

    Power of Attorney is required for either Seller or Buyer: The lender and the title Company must review the notarized document. The original will need to be recorded.

  • Health letters and inspections for a well or septic have not been ordered: Submit bill to escrow, if unpaid.

  • Septic Pumping has not been completed: Submit bill and pumping receipt to escrow if unpaid.

  • Work Orders have not been completed: Submit all unpaid bills to escrow or provide paid receipts.

  • Pest Inspection has not been completed: Submit bill to escrow along with the original Preliminary and Final Reports.

  • Sellers and Purchasers are not in the area and unavailable for signing: Notify Escrow if any of the parties will be out of the area. Extra time is needed to ship documents via UPS or Fed Ex.

  • Outstanding Loan Conditions: Borrowers’ might want to check with their Loan Officer to make sure they have met all the documentation requirements necessary for funding.

  • Addendums to the Purchase and Sale Agreement not submitted to escrow could affect closing time frames or documents.

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