For Buyers


“No matter how hard you try to make a rental feel like home, it simply isn’t the same. Not when you can’t paint the walls the colors you’d like or have that family pet you desire. Let’s start your search for real estate in Maine.”

maine listings

http://stephaniepedersen.mainelistings.com/public/search

Click the link or photo above to view Maine homes for sale

FIRST TIME HOME BUYERS GUIDE

GET PRE APPROVED FOR A LOAN!

Narrow down the areas you’s like to search for a home – You can do this by narrowing down the counties your interested in. Like, Cumberland County or York County. You can also do this by narrowing down specific towns. Like, Cumberland, Yarmouth, Freeport, or Falmouth. Another great way to do this is by to narrow your search down to a certain mile radius from a specific point. like, 10 miles from your daily job you will need to travel to or within a 15 mile radius of your families home in Freeport or your friends in New Gloucester.

Find a Realtor – You need a realtor who will listen to your wants and needs carefully. A good Realtor can guide you through the entire process and make the experience much less stressful. A Realtor will be well-acquainted with all the important things you’ll want to know, make recommendations and explain the market to help you search homes for sale that suit your needs that you can afford. Once you make an offer your realtor should work to negotiate terms that you are happy with. Contact Stephanie Today! 207-939-9404

Automated Search –  Where should you start your search for real estate in Maine? Your Realtor Stephanie can help you search Maine homes for sale on the MLS. She will set you up on an automated search for real estate in Maine that will notify you when a new home in your criteria comes on the market. Don’t let the process of buying your first home intimidate you. I’m here to guide you every step of the way!

Start looking at homesClick this link to view Maine homes for sale. Are you finding homes online that you would like to see inside? I recommend you do a drive by of the homes you like before setting up showings with your Realtor. You may find that some listings online can be a little misleading. Driving by and seeing the area and the lot the home sits on will tell you immediately if it’s worth your time to see inside.

 

THE OFFER

Are you ready to make an offer on a home?

Your Realtor Stephanie can do a Comparative Market Analysis on the home before you make an offer - This will helps determine if the asking price is a true reflection of the current market value. This means that Stephanie will compare the home you are making an offer on to other homes in the area that have recently sold.

These are some things you will need at the time of writing the offer:

A copy of your pre qual letter

What type of loan will you be getting? FHA? RD? CONVENTIONAL? VA…?

How many years do you plan on mortgaging the home? 15? 30…?

What is your interest rate going to be?

Ask your mortgage broker what your approximate closing costs will be – They can give you a more accurate amount with details of the specific property you’re offering on. Stephanie can get in touch with them to get this information as well.

What price do you want to offer to pay for the home?

Do you want to ask the sellers to pay for any of your closing costs? If the sellers agree to pay your closing costs than it will be that much less money that you’ll have to bring to the closing table. If this is important to you, you can offer more for the home and ask them to pay for your closing costs.

Earnest Money – How much will you be putting in escrow as good faith? You will get this amount back at closing. If you are not familiar with what this, Stephanie can explain this to you more.

Inspections – In the offer you will have the opportunity to put contingencies in about the home inspection. They usually take about 2 weeks to complete. Expect to invest $500 +/- for a building inspection, water test, air test and septic inspection. This can vary depending on who you hire to do these inspections and what exactly you chose to have inspected.

Fuel Proration – If you agree to pay the seller for the fuel that remains at the home, you will be expected to pay the cash value the day of closing. This includes all types of fuel/heating, whether it be wood that remains, pellets, oil, propane, K-1…

Negotiating the terms of the contract – When you make an offer on a home you will also set a deadline for the seller to respond to your offer. The seller will respond with either an acceptance, denial or counter offer. Depending on how they respond to your offer will determine the next steps. Stephanie will guide you through this process and work to negotiated the best possible terms for you.

Under Contract – Once the sellers have agreed to all of the terms in the offer than you are officially under contract. Inspections typically begin at this time unless otherwise negotiated. Your lender may request other documents needed from you at this time.

Appraisal – The appraisal is usually ordered by your lender once through inspections. The cost of this is usually around $500 +/- and can be paid at closing. This is paid at the buyers expense. In order to get a loan for the price you’re under contract for, the home must appraise for the under contract price.

Day of Closing – We will do a final walk through of the home before closing. Bring your ID to closing. Bring a personal check to pay for the fuel proration. Bring a bank check to pay for any other additional costs that your lender has prepared you for.

Congratulations – You did it!

house key

 

Stephanie does quite a bit of business in; Freeport, Yarmouth, North Yarmouth, Falmouth, Cumberland, Pownal, Durham, New Gloucester, Gray, Windham and Raymond.

Stephanie also works in Portland, Westbrook, Poland, Buxton, and Standish.

 

Stephanie Pedersen Associate Broker / Realtor @ Coldwell Banker Team Real Estate

778 Roosevelt Trail, Windham, ME 04062 – (207) 939-9404