Here are the steps that need to happen before you are given the keys to your new home in Vermont:
- Find a real estate agent. A good real estate agent can help you find the right home for your needs and budget, and guide you through the entire home buying process.
- Get pre-approved for a mortgage. This will show sellers that you are serious about buying a home and that you have the financial means to do so.
- Make an offer on a home. Once you have found the perfect home, you will need to make an offer to the seller. Your real estate agent will help you with this process.
- Hire a real estate attorney. Your attorney will review the Purchase and Sale Contract and conduct the title search to be sure the seller owns the property free of liens and encumbrances.
- Close on the home. This is when you will sign all of the paperwork and officially become the owner of the home. Your attorney will review and explain the documents to you before signing.
- Get the keys to your new home! After you close on the home, you will be given the keys and can move in.
Here are some additional details about each step:
Finding a real estate agent. You can find a real estate agent by asking friends or family for recommendations, or by searching online. When you are interviewing potential agents, be sure to ask about their experience in the Vermont market, their fees, and their availability.
Getting pre-approved for a mortgage. To get pre-approved for a mortgage, you will need to provide your lender with information about your income, assets, and debts. Your lender will then use this information to determine how much money you can borrow.
Making an offer on a home. When you make an offer on a home, you will need to include the purchase price, the down payment, and the closing costs. You will also need to provide the seller with a deposit, which is usually 1-2% of the purchase price.
Hire a Real Estate Attorney. Be sure to hire an experienced real estate attorney. The attorneys at the Peet Law Group have several decade of experience representing home buyers throughout Vermont.
Closing on the home. The closing is the final step in the home buying process. At the closing, you will sign all of the paperwork to officially become the owner of the home. You will also need to pay the purchase price, the down payment, and the closing costs.
Getting the keys to your new home. After you close on the home, you will be given the keys and can move in!
