Porcupine Real Estate Blog
What does the pre-buying process look like? Let’s break it down
Buying a home can be a little overwhelming - where do you even start? Fortunately, we are here with you every step of the way. We’ve compiled a list of steps to help you understand what you need to do when:
Steps to buying a property:
- Get pre-approved for financing. We suggest going with a local, New Hampshire-based lender. If you are buying an investment property, this type of financing is good for 1-4 units. Buildings of 5 or more units require "commercial financing," which is a different product via other types of banks (local banks instead of mortgage brokers). Contact us if you'd like us to recommend excellent lenders.
- Check your CollabCenter listing cart regularly. You can save properties as your favorites so we can get an idea of what you are looking for. You’ll want to continue to review new listings to get a good feel for values and areas. When you see something you like, send us the address or MLS number and we will send you available disclosures and give you our thoughts on them.
- Start looking at properties. As soon as we have the green light from the lender, we can start looking at properties in earnest. We'll coordinate days/times that work best for you and then our agents will request the showing from the listing agents. Sometimes it's approved, sometimes they come back with a different day/time; sometimes they only allow viewing of one or two units in a multi-family property. It’s a good idea to give at least 48 hours' notice, so if you know you want to see something on a weekend, it's best to decide that on Wednesday or Thursday so we can give ample notice to the other side. We work seven days a week and do our best to accommodate your schedule. If you are located out of state and would like us to do a video tour with you, we are happy to provide this concierge service. You are encouraged to attend open houses when available; if we can’t join you, simply tell the agent there that you are represented by Porcupine Real Estate.
- After you identify a property you want to make an offer on, we’ll strategize to make sure you get the most bang for your buck. We help you negotiate the best price/terms for your situation and, once accepted, guide you through the entire process, including home inspections, title insurance, appraisal, financing, and, finally, the closing.
Ready to take the plunge? Contact us today to get started.