YOU'VE FOUND YOUR MONTGOMERY COUNTY HOME OF CHOICE AND HAVE A CONTRACT. NOW WHAT??

Depending on age, seller disclosures, visual condition and your experience with real estate, you may have a home inspection. We recommend them for real estate in Montgomery County if the house has a basement, is older, has home owner upgrades or the sellers do not disclose the condition of the home. You'll have a few days in which to have the home inspection performed and present the seller with a list of repairs or defects. Maryland requires that sellers disclose "material" defects. Therefore, the required "MARYLAND PROPERTY CONDITION DISCLOSURE STATEMENT" is very important. This disclosure is the first step in determining property condition.

Sellers may choose to disclose property condition or "DISCLAIM" and not disclose any information. HOWEVER, sellers cannot fail to disclose known material defects and if their listing broker/agent is aware of any defects, the agent must also disclose the defect. Maryland is far more consumer protective than many states. The Home inspection contingency our company uses provides that you, the purchaser, to declare the contract null and void if the home inspection reveals serious undisclosed defects. Generally, sellers will make repairs to a home pursuant to the home mechanical inspection.

While there are many new and newer homes in Montgomery, there are also many build in the early 1900s and throughout the 20th Century. Many of these homes are in historic areas such as Garrett Park,

Kensington, Chevy Chase, the older sections of Gaithersburg, Germantown and Bethesda. You'll probably want to have a home inspection by a qualified home inspector.

LETS GET THAT LOAN APPROVED.

Unless you are paying cash for your home, you'll have a date certain in the Contract of Sale by which you must have a firm loan commitment from your lender. This critical date means that you must vigorously pursue loan approval by providing the documentation and information needed by your lender for firm loan commitment. Don't worry, we'll help.

GET READY FOR SETTLEMENT

While you're loan is in process, we will arrange for your contract to be scheduled for settlement. That's the day you pay for your home, sign your loan documents and get the keys to your newly purchased home. The title company will order a survey of the lot for you and you'll get a copy. They'll also arrange to search and examine the title recorded in the land records to make sure there are no liens or encumbrances not disclosed to you by the seller. You WILL receive a clear title to the property at settlement. You'll also receive a free HOME WARRANTY.

The above is just a sketch of the Montgomery County home buying process. Your Homefinders.com agent will be there for you from search to settlement.

 

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