Buying a Home

You've made a great decision to purchase now for several reasons - low interest rates, steep buyer's market, & up to $8,000 tax credit. The homebuying process can seem complicated, but if you take things step-by-step with myself as your buyer's agent - things will go smoothly and you will soon be moving into your very own home in Westchester!

Whether you're looking for your first home, your dream home, relocating or an investment property, I'm committed to providing you with the highest quality buyer service. When making the type of investment that buying a home requires, you deserve to have all the latest market information and the very best advice, both of which I can provide you with.

I will serve as your guide throughout your first homebuying experience every step of the way. Starting with our initial consultation, and all the way through your move-in and beyond. Below, I have outlined the basic steps of the process so you know what to expect.

Step 1: Figure out how much you can afford & obtain your pre-approval letter

What you can afford depends on your income, credit rating, current monthly expenses, down payment and the interest rate. We recommend that you go to three sources to get the best rate from the most reputable lender. You will choose your lender and obtain your Pre-Approval letter. Your Pre-Approval is a letter stating that the lender agrees to lend you a certain amount of money based on your down payment as well as several other factors. We will need this before we start looking as some showings require proof of funds (some sellers want to make sure anyone coming to see their home is qualified and legitimate buyers).  Your pre-approval letter typically only takes 15 minutes over the phone to obtain. Please see attached for recommendations of mortgage brokers/lenders with whom we have done business.

Step 2: Choosing the rest of your team

Now that you have your real estate agent (me), and your lender chosen, it is time to choose the rest of your team - to avoid a stressful scramble situation later. The rest of your team consists of your attorney, your inspector, and your home-owner's insurance provider.  While you may choose whomever you wish, please see below for my referrals & attached referral sheet for Paddington Stone local recommended options.


Step 3: Shop for a home

Once we have your price range established and we have a pre-approval letter on file, I will begin to search available homes based on your preferred location, layout preference, style preference, ect. I will create your own personalized webpage 'portal' of potential properties. Each property listing within your portal will have tons of photos, as well as all details concerning taxes, lot size, ect. From there we will decide together which homes we will see on our first showing appointment. Typically first-time home buyers in Westchester can see an average of 5-10 homes before submitting their first offer. However, remember that it is a process and if we have to see more homes so that you feel comfortable - I will stick with you the whole way. I don't want you to feel like you're rushing the process.

Step 4: Make an offer

I will provide you with a comparative market analysis of similar homes to make sure the asking price is fair.  From there we will negotiate the price. You leave this part up to me. I will guide you through the negotiation.   Once we come to an agreement and we have an AO (Acceptable Offer), I will take care of the necessary paperwork to move forward. However, it is important to remember that having an AO only means that we are on our way. The seller can continue to show the property and consider other offers until the property is under contract. This is the most important time in the transaction. We must move quickly between AO and fully executed contracts. I will take care of getting your attorney up to speed on the deal thus far and getting them all the paperwork they need.

Step 5: Get a home inspection

We will need to schedule your inspection to happen within a couple of days of having an AO. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs. Because by nature, Westchester does tend to have older homes, some minor repairs are to be expected. However, your home inspector will let you know what is 'normal' and what is not in terms of repairs. Once everything is clear with the inspections - any new terms will be relayed to the attorney so that they are incorporated within the contracts.

Step 6: Signing the contracts

In New York State - real estate transactions are handled through real estate attorneys. The seller's attorney traditionally draws up the contracts and gets them over to your attorney for review. Your attorney will advise you and make sure you are protected within the contracts. You will then set up an appointment to see your attorney in person, bring your down payment (traditionally 10% at contract in Westchester), and sign your side of the contracts. The entire package should go back to the seller's attorney via overnight track-able mail (make sure your attorney does it this way). They will then be fully executed by the seller and an original will be sent back to your attorney. Congratulations - you are now under contract!

Step 7:Closing!                                                                                                                                            Traditionally the time between contract and closing can be 30-60 days. Of course with ever fluctuating lending and underwriting requirements - this can vary. During this time - your attorney will order and obtain your Title Search, your loan will go through the underwriting process, and any paperwork necessary for the closing will be obtained. Prior to the closing you will need to obtain homeowner's insurance. That's it!

My Referrals

Attorneys

**Jennifer Wagner, Esq. 914.219.5580

200 Business Park Drive, Ste. 200
Armonk, New York 10504

Extensive experience in all aspects of real estate law

**Michael Annunziata Esq. 914.337.9724
Michael Annunziata Attorney at Law
35 Grassy Sprain Rd.
Yonkers, NY 10710
& 345 Kear Street, Suite 203
Yorktown Heights, NY 10598
Practicing law for nearly 30 years

**John M Crane Esq. 914.937.7272
John M. crane P.c
342 North Main Street
Port Chester, NY 10573
John and his firm John M. Crane, P.C. have extensive experience in all aspects of real estate law and litigation

**Alan Dillon Esq.   (Se Habla Español) 914.698.3216
Dillon and Dillon P.c
100 Mamaroneck Avenue
Mamaroneck, NY 10543
Alan and the attorneys of his firm, Dillon & Dillon, L.L.C.

Over 25 years experience

Joseph Scutiere, Esq. (direct) 914.755.0905

(office) 914.337.4400

271 Main Street
Eastchester, New York 10709

White Plains, NY (Office)

Mortgage Brokers

**Patty Roessel – Senior Retail Mortgage Loan Consultant

HSBC Mortgage – Direct lenders

186 Mamaroneck Ave.

White Plains NY 10601

Patricia.a.roessel@us.hsbc.com

O: 914-696-3343 C: 914-227-8692

F: 914-694-6910

**Hank Paul Mortgage Consultant

Wells Fargo Home Mortgage

701 Westchester Ave

White Plains, NY 10604

914.285.1481 Tel

914.924.3163 Cell

914.285.9522 Fax

Hank.Paul@wellsfargo.com

**Christian G Babcock
Mortgage Master Inc.

FHA Specialist

email: cbabcock@mortgagemasterinc.com
web: www.christianbabcock.com

**Contact your current personal Bank for rates

Home Inspectors

**Anthony Seirghio, Quality Home Inspections
INFO@QUALITYHOUSEINSPECTIONS.COM
914-260-1872 OR 1 (800) 387-6885
Website: qualityhouseinspections.com

Check Mark Services LLC./Home Inspection

www.checkmarkservice.com

Housemasters, Inc. – (800) 603-8134
Click Here

Matt Jablonski

Mortgage Master Inc.
FHA Specialist

Cell -914.714.9102

fax - 203-504-7989

email - mjablonski@mortgagemasterinc.com

Buying a Home

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