VIEWING HOMES

After your initial counseling appointment, "The Hall Team" will have a good idea of your wants, needs, price point and location. A plan is customized for your home search and homes are selected that fit your requirements. Arrangements are made for you to preview them.

Remember "The Hall Team" can show you any available property. Whenever you see an ad, property sign or just hear a rumor, we can check it out for you! New construction also applies!

As you walk through the selected homes, look everywhere! Sellers are usually absent, but if they are home, they understand your need to examine cabinets, closets and basement storage areas. Make notes of home that appeal to you. It is easy to forget details and you will be pleased to have some familiar reminders at the end of the day!

The time it takes to locate your dream home varies on your requirements and property availability. Don't be surprised if the first home you see seems perfect for you! At the same time, don't be discouraged if none of the homes you visit on the first day is what you want. Our commitment is to find you that dream and work diligently until we do!

MAKING AN OFFER

Throughout the home search process, "The Hall Team" will keep you informed on the marketplace…properties that you have seen that are now under contract, homes that have come back on the market, recent sales. All this information is important as you determine market conditions in your price range.

When you have found that special home, your agent will research current comparable sold and under contract properties and also the current active comparable properties to help make a well-educated offer. The offer you formulate needs to include not only the price you are willing to pay but also closing date, inspections that you want to make, mortgage information, items included and excluded, and any other contingencies to the sale. (A sample contract is included in this packet.)

At the time of writing an offer, you will need to provide a deposit. This money represents your sincerity in the attempt to purchase the property. It is placed in an escrow account until closing. If your offer is not accepted, the money is fully refunded. You should anticipate a deposit of approximately 2-3% of the purchase price, though marketplace tradition may vary.

WHAT'S NEXT

This is where your Buyer Specialist will really shine! Your representative will make arrangements through the listing agent to present the offer directly to the Seller and will negotiate in your best interest.

Upon hearing your offer in full, the Seller has three options...accepting and signing your offer which places you under contract; rejecting your offer and your search for a home continues; "countering" your offer with terms that are more acceptable to the seller and we start negotiating to find a common meeting of the minds.

ATTORNEY REVIEW

It's important to be aware that all signed contracts are subject to a five-day attorney review period. During this time, both buyer and seller have the right to have an attorney review the contract they have signed and, for any or no reason, the attorney can cancel the contract on behalf of his client.

INSPECTION AND TESTS

All systems of the home you are purchasing are to be in "normal working condition" at closing. It is strongly recommended that you take the time to have, at your expense, all components of the home inspected during the contract period. This is normally done within the first five days of contract to ensure everything in the house is operational. The inspection can include roof, plumbing, electrical, heating and ventilation, foundation, attic, air conditioning, bath and kitchen fixtures and general structure. Other tests you might consider include radon, soil tests, water, well, and septic. Your representative can give you information on all of these tests so that you can make an informed decision.

These inspections/tests will help determine any problems that may need to be corrected. The seller will need to be notified in writing immediately of any defects revealed that you feel need to be addressed, this is done through your attorney. The seller then has the option to correct the defect, offer you a credit to make the repairs yourself after closing or refuse to make a correction. If the seller elects to refuse to make repairs, you will have the opportunity to accept the property "as is" or cancel the contract.