The O’Halloran Group is here to guide you through the home buying process, as well as show you all that New London, Sunapee and the surrounding towns in our area have to offer. Our Buyer Specialists have extensive knowledge of all the intricacies that home buyers encounter—from finding the unique home that’s perfect for you, to guiding you through the home inspection process, and remaining a go-to resource even after you own your new home. We also have an extensive network of professionals that will help make your experience as seamless and exciting as it should be.
If you are interested in exploring the New London and Sunapee region, have a home that you would like to preview, or are just interested in learning about the home buying process contact us today.
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New Hampshire Real Estate and Lake Sunapee Region Homebuyer Tips
Buying real estate can be overwhelming, whether it’s your first property or a vacation home in New Hampshire. Below we’ve outlined what to expect from the home buying process, as well as included our top tips for homebuyers in New Hampshire’s Lake Sunapee Region and beyond. Need to talk through your situation? Our team of Sunapee real estate specialists is here to help. Give us a call today.
What to Expect When Buying a New Hampshire Home
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Understand your financial situation - knowing what you can afford, as well as the full picture of what buying a home will cost is so important. Your New Hampshire real estate agent can walk you through all of the details, such as who pays for closing costs, how contingencies, or the lack thereof, affect total costs, and more, so you know exactly what to expect and can make the best decision for you.
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Choose where you want to live - choosing where you want to live may be more important than in what you want to live, although everyone’s situation is unique. Our visitor’s guide and town profiles provide helpful information and links to other resources, such as local school district websites. Want the inside scoop on what it’s really like to live in a particular area? Give us a call and we’ll walk you through the area, as well as any pros and cons to living there.
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Find the right New Hampshire real estate agent for you - there are many benefits to working with a licensed real estate agent. Often, working with an agent can actually save you time and money down the road by helping you navigate all of the details of the transaction and advocating for you when it comes to making an offer, and getting it accepted. Meet our team to learn more about our philosophy and how we can help you find, and get, your dream New Hampshire home.
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Get pre-approved for a mortgage - there are several benefits to getting pre-approved for a mortgage, which entails getting a letter from a lender indicating the type of loan and amount for which you qualify. Benefits include better understanding what your total home buying costs will be, showing you’re a serious buyer, and speeding up the process should you find your dream home, make an offer, and have it accepted. That said, there are some downsides to getting pre-approved too, especially if you’re not prepared to take the next step in the buying process. Pre-approvals typically expire after 90 days and too many lender requests to review your credit can hurt your credit score. For the same reason you ideally don’t want to open a bunch of credit cards within a few months of each other, you don’t want to request multiple pre-approvals or “shop around” too much either. FICO, one of the largest credit scoring companies, recommends spending 30 days or less shopping for rates and getting pre-approved. Wondering which local lenders we’d recommend? Give us a call to hear where our customers have had the best experience!
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Start looking for your dream New Hampshire home - our website offers different options to search for Lake Sunapee real estate and other property for sale in New Hampshire, such as searching by location, searching by property type, and searching by lifestyle. Start searching now!
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Make an offer - congratulations, you found your dream home! Putting your best foot forward is crucial in crafting your initial offer, as it may be the only offer you’re able to make, especially in our current highly competitive seller’s market (which is a market where more people want homes than there are homes to sell). This is where working with The O’Halloran Group can be especially helpful as our team relies on each others’ expertise to identify what will be most compelling for each unique seller and how you can have the best chance of your offer being accepted.
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Inspections, appraisals, and everything "in between" - once your offer is accepted, a lot happens before you close on your home. The entire process from going under contract to closing on a home can take between 30-60 days. You’ll need to contact your lender to get your mortgage paperwork submitted and processed, which is faster if you’re pre-approved, plus with appraisal delays, this part is critical to ensure timelines are kept. Next, the property’s title is reviewed and cleared. Title insurance is required by lenders and may be something you can negotiate for and ask the seller to pay. Then the home inspection occurs, unless it’s been waived, and any necessary repairs are identified. If you negotiate with the seller for repairs to be made, that will happen before you close. All homes that will be financed through mortgages will also have to have an appraisal, which can often slow down the process as appraisers can get quite backed up. Lenders also required homebuyers to take out a home insurance policy. Lastly, you’ll want to make sure utilities are ready to be set up in the new house, whether you’re transferring them or setting them up for the first time.
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Closing - closing is the last step in the process and represents the day when ownership of the property officially transfers from the seller to you. It’s a day full of reading and signing important paperwork, such as disclosures. Once you’re done, the fun of homeownership can begin!
Summary and Bonus Homebuyer Tips
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Look past the headlines - because buying a home is one of the biggest decisions most of us will ever make, it’s easy to get caught up in the fear of doing the wrong thing. There’s also a lot that’s constantly changing in real estate. We understand it can be difficult to navigate what’s true for your situation and area and what that means, such as the impact of waiting to buy and having mortgage rates increase. It’s so helpful to talk through what you want and need with someone who’s been through the process many, many times before, to truly understand what to expect and make decisions based on sound information and not fear.
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New Hampshire, and especially the Lake Sunapee Region, is a lifestyle - people move for many reasons and we often hear that once people move to Lake Sunapee, or for those who have always had a connection with the Sunapee area, they don’t plan to leave.
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A trusted real estate agent saves you time, money, and stress in the long run - when buying a home, your number one asset is knowledge. With knowledge, you can get better advice, make the best decisions, and set yourself up for whatever success means to you. We understand if you’re skeptical. Check out what our customers have said about their experiences.
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Everyone’s situation is unique - in summary, the value of having someone you can trust to work with and advocate for you cannot be overstated. We can’t tell you what you need, we can simply help you understand your options and achieve your best possible outcome. Ready to talk? We're here for you.
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