First Time Maryland Home Buyer

If you are thinking on buying your first home in Maryland: WELCOME TO ST MARY'S COUNTY! I will be happy to walk you through the process and help you find that perfect first home!

Nobody likes surprises, so let's look at the process. Here are some basic steps:

•1) Contact a lender to check how much you can afford. The lender will show some financing options that fits better your needs. If you need a local lender contact information please ask me.

•2) Hire a full time buyer's agent with knowledge in the area

•3) With the pre-approval letter from your lender and a Realtor on your side, you are ready to start your home search.

•4) Discuss with your Realtor your time frame; if you need to sell your house to buy another one, etc. It will help you evaluate if wait for a new construction or a short sale will work for you.

•5) Do your homework! Ask friends and colleagues about neighborhoods. You also can visit the local sheriff website. Agents, constrained by fair housing laws, aren't allowed to badmouth neighborhoods or even declare them "safe".

•6) You found the house, now it is time to put an offer! Your agent can prepare a CMA (Comparative Market Analysis) and check the recent sold homes in that neighborhood.

•7) With your offer you will need: the lender pre-approval letter and a check, the earnest money deposit. Discuss with your Agent the contingencies, the inspections that you would like to ask (home inspection, mold, etc) and settlement date. Lenders normally ask something from 30 to 45 days to get your loan ready, depending on the loan program.

•8) Sellers can accept your offer the way it is or they can counter it. If any changes are made, the agents will cross whatever has to be changed and all the parties have to initial. When buyers and sellers agree with the contract, we have a ratified contract, so the clock starts ticking and the "fun" begins!

•9) If you would like to know more or if you have any questions, please contact me.

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