What is the first step I should take if I want to own a home?

What is the first step I should take if I want to own a home?

First step should definitely be to call a Noel Antonio Properties agent, obviously. The first thing that the agent will tell you to do is find a loan officer that is willing to work with you to determine our budget by reviewing your financials and issuing a Pre-Approval Letter. Armed with this letter, we can start our house hunting mission! If you need help finding a loan officer, we have some great contacts on our site under the “Resources” tab. 

I am looking to buy a home. How much do I have to pay an agent to represent me? 

I am looking to buy a home. How much do I have to pay an agent to represent me? 

A whole lot of nothing. Just give us your time and trust. Our commission is split with the sellers agent, so its a sellers obligation and does not fall on our buyer. 

How long does it take to close on a home once I am in contract? 

How long does it take to close on a home once I am in contract? 

On average, it will take anywhere from 30-90 days. Of course, this depends on the circumstances surrounding the transaction. For instance, if your lender has to do lots of work to clear you to close, this can delay our timeline. If the seller has to clear title issues, this can also delay our timeline. 

What are my closing costs?

What are my closing costs?

For buyers, you will receive a loan estimate from your lender that outlines your closing costs. You can typically estimate about 4% of the price will be paid at closing but the type of property, taxes, and even your financials can impact this estimate. For sellers, you are paying your attorney, broker commission and NYS transfer taxes. You might also have to pay any open judgments that arise in the title report, but that’s a conversation for you to have with your attorney. 

How do I find an attorney?

How do I find an attorney?

Your agent might have a great recommendation. Referrals from friends and family work too. We also have some great recommendations in the “Resources” tab right her on our site. No matter which route you choose to find your attorney, be sure to interview your attorney! Ask the prospective attorney questions like: 

(1) Are they e-friendly (electronic signatures, remote consultations, etc)? 
(2) Will you be working with the attorney or their paralegal mostly?
(3) What are their hours of communication? 

I want to sell my home, but I don’t know where to start. 

I want to sell my home, but I don’t know where to start. 

Call us for a free listing consultation where we will discuss things like condition to sell, closing costs, comparables to determine pricing, timeline, etc. 

What happens if my home doesn’t appraise?

What happens if my home doesn’t appraise?

This is a tough one. The short answer is, we try to renegotiate. The complicated answer is, it depends on what your contract says and so this is a conversation that should be had with your attorney prior to signing the contract. Our agents are happy to be a part of this call so we can efficiently strategize, as a team. 

What people do I need to hire if I want to buy or sell? Who do I need on my team?

What people do I need to hire if I want to buy or sell? Who do I need on my team?

You’ll need to build your dream team: your agent, loan officer, inspector, attorney and possibly contractors & movers. 

Can I buy a home with bad credit?

Can I buy a home with bad credit?

Don’t panic! With a good team, anything is possible. So, theoretically, yes you can buy a home with not so great credit. There are options for you. However, your loan officer is best suited to really dive into the details on this one. That’s why it’s so important to get in touch with a lender from the very beginning. That way, the loan officer can give you some tips on how to improve your credit to better your terms on your loan. 

How much do I need to put down for a down payment?

How much do I need to put down for a down payment?

You can put down as little as 3.5% or as much as 20%. This, again, depends on what your lender will approve you for. 

Should I update my home before listing it to sell?

Should I update my home before listing it to sell?

This is the perfect conversation to have at our listing consultation, where we will evaluate your home listing readiness. I would never suggest getting into debt to update a home. There are likely many things that can be done to make your home marketable, without breaking the bank. Click on the “Schedule a Consultation” link if you’d like to schedule a free listing consultation. 

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