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Buying A Buying A Home

Your Property 
Our Priority

Serving New York's Hudson Valley Region and the Catskills since 1985, River Realty Services is a full service real estate firm with trained and experienced professionals in every facet of real estate.

Let us help you find the property you've been looking for!

River is a member of the four of the regions largest MLS systems: Mid Hudson, Ulster County, Westchester/Putnam and Orange/Rockland. This allows us to find you a home anywhere in the Hudson Valley or Catskill region. You can also view our current listings online! 

New listings come in frequently - so check our website frequently for new properties! 

Also, look to River Realty Services for expert buyer representation across the following residential property classes: estates, multi-family properties, mobile homes and much more.

What Buyers Need to Know.....

Choose a link from the list below, or follow them step-by step to learn more:

#1 Getting Ready To Buy

Are you ready for the 'American Dream'? Preparing to buy a home is both exciting and terrifying at the same time. Fortunately, our agents have years of experience, which results in the stress-free and seamlessly purchase you deserve!

Ask yourself these questions:

  • What am I looking for in a new home?
  • Do I have enough money to purchase a new home?
  • How does my credit look?

You may want to make a list or brainstorm about the features and amenities that you find most appealing in a new home.

#2 Finding a Realtor

Before you choose a real estate agent it is important to do your homework on the brokerages in your area.

  1. Search the Internet for local real estate companies.
  2. Review local publications for agent advertisements.
  3. Call each company to compare commission fees, marketing campaigns and yearly sales volume.
  4. Talk to your friends and neighbors. 9 times out of 10, someone you know has sold their home and can provide a credible recommendation to point you in the right direction.

Competition is what makes the real estate industry successful. When choosing your real estate broker/agent ask them the following questions:

  • How many years of experience do you have in this industry?
  • What is your selling experience in my community?
  • What professional certifications do you hold (ex. Certified Residential Specialist - CRS)?
  • What services will you provide for me as my agent?
  • How will you represent me as a buyer?
  • Can you provide all the information that I need about homes in the area that fit into my price range?
  • What is the fee for your services?
  • Can you provide all of the different scenarios with the sale of property I may purchase? (as far as commissions and fees)
  • Can you explain the paperwork that I will need to sign?
  • What is my contracted time frame for using you as my agent?

Once you have chosen an agent it is important to establish specific goals. Also, key is communication between you and your agent.

#3 Starting the Loan Process

If you are purchasing with a mortgage it is important to line up mortgage financing in advance of seeing houses. The "pre-approval" process allows lenders to take a look at your income, expenses and credit history in order to preliminarily qualify you for a mortgage.

Your River Realty Services' agent can help you help you find a lender that you feel comfortable with that offers programs best-suited to your needs.

#4 Starting Your Search

Now it is time to start the exciting search for homes! You may want to narrow down your search by asking yourself the following questions:

  • Where do I want to live?
  • What is the neighborhood like?
  • What is the crime rate?
  • Would I be moving into a good school district?
  • Are there any zoning restrictions?
  • How far is this home from my job?
  • What is my price range?
  • How many bedrooms and bathrooms do I want?
  • What style of house am I attracted to?
  • What amenities do I desire (ex. pool, fenced-in yard, etc.)?
  • Does this home have potential to increase in value?
  • Is there room to expand if I would like to build an addition?

Searching for a home is becoming easier than years ago. We now have the Internet as a powerful "home finding tool," as well as the MLS (Multiple Listing Service) and print advertising.

#5 Finding Your New Home

Beginning the search for your new home can be a great feeling. You may want to first begin by making a list of the features and benefits that are most important in your pursuit of finding a home. These could be:

  • Location
  • Affordability
  • Size
  • Style
  • Design
  • Amenities

Looking for a home in an area where you feel comfortable is key. If appropriate, instruct your real estate agent to look for homes in the specific areas you have designated.

#6 Making an Offer on a Home

Selecting a home should be relatively easy once a home falls somewhere in your criteria and the property is desirable for purchase.

You will want to inform your real estate agent what you like about the house and make a list of your likes and dislikes with the property. Though you will most likely have done this already in a general sense, it is important to do it again for specific homes you have in interest in.

There are three steps in selecting a home:

  1. Accept the seller's asking price and have your agent write up the contract
  2. Reject the seller's asking price and have your agent make a different offer, or
  3. Agree to different terms and have your agent write an offer

This is all a part of the negotiation process.

Communicating about the house and how it makes you feel is important when making this decision. It is also important to be realistic when it comes to how much you can afford when selecting "your" home.

#7 Financing

Doing you homework about loans will save you both time and money. There are thousands of loans out there to choose from, but it is important to keep in mind several key factors that will help you along the way:

  • How much money should I put down?
  • How is my credit?
  • Is this my first home?

Receiving a loan requires completion of a loan application and specific financial documents including pay stubs, rental checks and/or tax returns. You can receive a loan from a number of different financial institutions, namely: commercial banks, credit unions, mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks and insurance companies.

#8 Insurance

Insuring your home is like making an investment in your future. You work hard to have a home; homeowners insurance protects you and your family from someone or something taking it all away.

There are many different forms of insurance:

  • Title Insurance - protects you in the event that the title on your property has a lien, unpaid taxes, or other legalities that would make it invalid.
  • Homeowner's Insurance - protects your home from fire, theft and other liable coverage.
  • Flood Insurance - protects your home from flood damage.
  • Home Warranty - offers buyers and sellers the piece of mind that should anything unexpected happen (due to normal, every day wear and tear) of the home's appliances, heating, air conditioning, plumbing, and electrical systems, it will be repaired (or replaced in some cases) for you without costly fees.

#9 Closing Procedures

The closing process is always changing. It is even referred to as "settlement" or "escrow" in different parts of the country. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.

Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).

The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes, and any additional closing costs. All legal papers are filed with the local record office.

It is this step where the buyers and sellers do very little. It is important as the seller to take a final walk through the property to make sure the property's condition as not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.

#10 Settling In

You have unpacked your boxes, arranged your furniture, and feel complete with your moving task. What's next? There is always an adjustment period when you move. It is important to understand that what you, your spouse and/or children may be feeling is completely normal.

Here is a list of a few things that may help:

  • Urge everyone to talk about how they are feeling.
  • Get outside and tour the neighborhood or take a drive and visit some new places around the community.
  • E-mail old friends and neighbors to let them know about your new home and community.
  • Start a list about what you like about:
    • Home
    • School
    • Neighborhood
    • Community
    • Church
    • Friends
    • Teachers

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