Find a home:

• Make the decision to go for it, this might include getting a pre-approval for a mortgage amount from a bank.
• Find a realtor to work with. If you have chosen wisely, your realtor will make this important transaction go smoothly and the property search an enjoyable experience.
• Prepare your outings in concert with your realtor. Browse through websites and printed guides to narrow your list of properties.
• View properties with your realtor. Be prepared to make several trips, remember it is called house hunting.
• And then - you've found it!

• This stage is done orally with your realtor as the contact between you and the seller. If your realtor is the seller's agent, be aware of how much you tell him about your real intentions.
• A starting offer is usually lower than the asking price and is just that - the start of a negotiation. It contains the amount, how much of it will be mortgaged and any conditions or contingencies of the sale, as well as a proposed closing date, which is the day you actually legally purchase the property and take possession. Usually the contingencies are the mortgage approval, the home inspection, and clear title to the property. Your realtor will advise and explain these.
• A counter offer might be made by the seller, and then again by you to the seller and, all willing, you might agree on a purchase price and the terms and conditions of the purchase.
• In some cases you might be very clear about what you can afford to offer and you might ask the realtor to present your offer as the highest and best with no counter offer accepted. You gave it a shot and you are willing to live with the consequences.
• Remember no seller is obliged to accept anything less than asking price!

• Once there is an accepted offer it is in everybody's best interest to have a contract drawn up and have the offer signed by both you and the seller. We do have a standard contract form that is accepted by many attorneys in our area that allows us to expedite this stage. Usually there is a 1% deposit, the "good will money", due at this time. It will be deposited into an escrow account, and should the sale not go through because some of the terms and conditions weren't met, this deposit is refundable. It is also important at this stage to engage a lawyer as realtors are not allowed to give legal advice.
• The contract will specify all terms and conditions of the sale as well as a timeline for additional payments and a proposed closing date.

• Review the contract with your lawyer, and also discuss closing procedures and costs.
• If you need a lawyer, your realtor will supply you with a list of local attorneys for you to choose from. Or consult with friends or the yellow pages.

• This is an important step in the purchase of a house. Unless you are a qualified home inspector or contractor you should not skip this option.
• New York State requires home inspectors to be licensed as of December 2005. Your Realtor will supply you with list of local inspectors for you to choose from. Another good source to locate an inspector is through their trade association ASHI.
• If you do not know any Home Inspectors your realtor will supply you with list of local inspectors for you to choose from. It is highly recommended that you look for an ASHI certification.
• As you hire the inspector and pay for the inspection, the inspector works for you and not the realtor or the seller.
• Make an effort to be on location for the inspection. Many quick questions and answers on location eliminate much confusion later.
• Schedule the inspection with your realtor.
• The inspection serves three main purposes:
  • It might detect or confirm major defects in the mechanical, structural, electrical plumbing and septic systems in the house. If those defects were hidden and not known to you when you negotiated the purchase price they might prompt you to negotiate the remedy of those defects or, in extreme situations, to step away from the purchase.
  • It might detect minor defects you may have to address in the future, giving you a heads up for budgeting  those in.
  • It gives you a wealth of information about your future house and suggestions of how to improve or maintain your investment.

• If you would need a local bank your realtor will supply you with list of local lenders for you to choose from.
• The approval process consists of two components, your credit-worthiness and the appraisal of the market value of the property. Your realtor will be available to grant access to the property for the appraiser.
• Once the appraisal is done the bank will issue the letter of commitment.

• Your lawyer will order a title search to ensure the seller is legally entitled to sell the property and that it is free of liens. The title search company will offer title insurance to insure their findings. If in doubt, discuss this with your lawyer.

• Once the title search is in and no problems have surfaced that need to be addressed and the bank has issued a letter of commitment, your lawyer will schedule the firm closing date with the seller's and bank's attorney.
• Your lawyer will advise you about the required funds for the closing and any documentation you might need to bring. In addition to the purchase price you might expect to pay for fuel remaining with the property and a proportioning of the already paid property taxes.

• Schedule this with your realtor. It is usually done just before the closing and consists of a visual inspection to ensure that the premises are as required by the contract.

• This is it! After a slew of paperwork through which your lawyer will guide you, you will receive the keys and can take possession of your country home.