Merrimack NH Home Buyer’s Guide – A Valuable Real Estate Resource
Purchasing a home can be a very stressful and complicated process especially if you are a first time buyer. Enlisting the services of an experienced buyer’s agent will provide you with the information and advice to make sound decisions in buying Merrimack, New Hampshire real estate. Buyers often interview mortgage loan officers, REALTORS, attorneys, home inspectors, accountants and financial advisers during the process of purchasing a property. Request your Merrimack NH Home Buyer’s guide below.
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This excerpt from the Merrimack NH Home Buyer’s guide will assist you in the process.
Primary Reasons to Consider Owning a Home
There are four major reasons to consider purchasing a home:
- Solving your housing need for you and your family
- Historically low interest rates.
- Affordability – declining values in the past three years provide exceptional price offerings.
- Tax benefits – current tax law favors owning a home over renting.
Prequalify for a Home Mortgage Loan
In most cases, consumers that purchase a Merrimack home will finance the property with a home mortgage loan. For first-time homebuyers, there are a variety of special programs offered through local, state and national agencies. Qualifying for a mortgage is a simple process that is based on your ability to repay the loan. Income, credit history and existing debt are the primary factors in your ability to obtain a mortgage. You may consider interviewing 2-3 lenders to determine which programs and services meet your situation.
The Home Search with Your Merrimack Buyer’s Agent
Consumers purchasing real estate have the option of hiring a real estate buyer’s agent to represent them in “buyer agency” and this is disclosed in a “mandatory disclosure form” required by NH state law. The agent has a fiduciary responsibility to represent the buyer’s interests instead of the seller’s.
Your agent can assist you in searching for a property through the Multiple Listing Service and homes sold by their owners (FSBO). Most property for sale, including Merrimack, NH foreclosed and bank owned homes, are listed in the MLS.
The Home Inspection
The home inspection is a primary step in buying a home and is conducted after reaching an agreement with the seller. The home inspection process will provide valuable information in maintaining the property as well as uncovering unknown material defects. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to:
- Evaluate the physical condition: structure, construction, and mechanical systems
- Identify items that need to be repaired or replaced; and
- Estimate the remaining useful life of the major systems, equipment, structure, and finishes
Title and Closing
Title companies or attorneys will research the title to make sure both the lender and the buyer is protected and has “clear title” to the property. Prior to the actual closing, most buyers schedule a final walk-through with their agent to inspect the property. Once the closing is complete buyers can now occupy their new home.
Carol Doleac is a top Merrimack NH buyer agent providing buyer agency services in Southern NH. Take advantage of her experience and client level services which includes a Merrimack NH Home Buyer’s guide, email alerts of Merrimack property listings meeting your criteria and her recommendations for industry professionals.