Frequently Asked Maine Real Estate Questions….
What to expect in a Maine real estate transaction if you are the buyer…. Really, it all depends on the type of property listing purchaser you are.
Floating a Maine home loan, paddling carefully up the life creek to arrive at the real estate closing.
If we are talking VA home purchaser or first time Maine house buyer, than everything in the process is new and different.
If a second Maine waterfront home or recreational land, then some overlap of other real estate purchases kick in to make the sale a little less brand new, unknown.
For the first time home buyer of a Maine home, our office gets asked the same set of questions over and over. And toward the top of the inquiries is “how much Maine house can I afford” ?
Like most things, anything in life, the answer is it depends.
If you the buyer of the Maine home have good credit, don’t owe too much or anything for monthly debt and have money left over from your income to show the bank you are good to go to handle the house payment, than now we’re cooking.
And remember, the pickier the bank program, the fussier the underwriting of the Maine loan. In addition to how you the buyer of the Maine home look under the financial hood, inside the wallet or purse so to speak, the property you are buying is put under a very bright light. To make sure it passes muster, meets with the bank loan mortgage underwriting requirements scrutiny.
Plus if the appraiser that inspects it comes up with a list as long as your arm for repairs, updates and inspections, oh oh. Somebody is going to have to one by one tackle, resolve, make those issues go away.
Getting pre-approved for a Maine home bank loan before you fall in love with a home of your dreams is just common sense.
Smart move, practical. Unless you hit the lottery, inherit money during the Maine home purchase process, you are going to more often than not as a first time home buyer end up in a bank lobby some place. To try to successfully get the combination to open the vault. To actually secure the loan for the money needed to buy that Maine home that gets you out of the rent rut. You know the place.
Renting instead of buying a Maine home. Waiting, standing still, not moving ahead or gaining any equity. Just throwing all that cash in the trash. Flushed down the drain with nothing to show for the leasing, fence straddling renting except month after month receipts.
Other first time home buyer questions for a Maine home purchase include “how much money am I going to have to come up with to make this purchase?”
And worry about do I have enough all the way to the real estate closing puts a pit in the stomach of the wannabe Maine home buyer.
That does not go away. Keeps you awake nights for fear of coming up short on cash funds to derail plans, hopes to finally be a Maine real estate property owner.
Think about it, the bank does not want you coming up short at the Maine real estate closing settlement either.
The local Maine banking financial institutions have to do, prepare a good faith estimate of the actually cost of the real estate property closing.
By law provide you with an accounting of the best case real world estimate for everything from home owner’s insurance premium, prorated share of Maine property taxes. To show how much is needed to fund, start an escrow account for property insurnace, property taxes. To include the lawyers bill, Maine bank settlement charges including appraisal and application fees. To spell out in black and white the total laundry list of charges involved in your Maine real estate home purchase.
Everyone loses if the Maine home property listing home financing loan does not get made. If not everyone is able to arrive at the real estate closing long conference room table right? Start up front if you are a first time Maine home buyer getting pre-approved for a real estate house loan. Making sure you have the right stuff, the timing is right to buy a home. To learn which Maine bank financing loan programs are out there to consider. And the ones that work best for you, your current situation, fit the property you are trying to buy, get a Maine home loan on.
Looking for a Maine home?
We start by listening, learning what your expectations for Maine property are.
Learning what all your special considerations are that need addressing to make your happy.
Coupled with the horsepower reality of the financial health, the acual size of the wallet, purse you carry. Have to work with to get the most for the least.
Making sure the Maine property sale happens by attending to all the little details that go into it every step of the way.
Preparing you the Maine real estate buyer and seller for what to expect for possible delays, set backs during the A to Z process that our office works in daily.
But that you are new to, are green about from lack of experience because it is not something you do every day.
Having a little fun in this purchase of your Maine real estate property using a little humor too.
Keeping it light, bright, everything out in the open to avoid surprises no one told you to expect.
Providing full explanation of what is going to happen next, and why.
Because you are making life plans for this Maine real estate sale to happen and it is our job to make sure it does. To make it look easy, seamless, professional.
What needs to occur to get you a Maine property with your name on the deed to it.
Guiding like a Maine lighthouse, steering the process to get you the keys to the Maine house to come home to, invest in and enjoy. Avoiding all the nit picking rocky patches, sections along the way from home tours to the actual Maine real estate closing that is everyone’s target. That experience teaches from years of practice helping buyers and sellers of Maine real estate come together, to make the exchange of property.
207.532.6573 | [email protected] | MOOERS REALTY 69 North Street Houlton Maine 04730