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Putnam County Home Buying Lawyer

For most people, their home is their largest asset, and for this reason buying a home is often a stressful event. In addition to finding a desirable home, many people struggle to find an affordable loan and complete the closing process on time. It is not unusual for people to put off buying a home because they are confused about the closing process.

At Spencer & Meyer, our Putnam County home buying lawyers can streamline the process so that it is as pain-free as possible. The process does not have to be a mystery.

Making an Offer

After you find an affordable home in an attractive neighborhood, you will need to move quickly to make an offer. The typical steps in the home buying process include:

  • The potential buyer makes a purchase offer. This offer should include the amount you are willing to pay.
  • The seller accepts your purchase offer.
  • Your real estate broker sends you lawyer a memorandum of sale with the pertinent details for the sale.
  • An inspector visits the property to perform an inspection. The buyer should also go with him to see the property.
  • The seller’s attorney drafts a contract and sends it to your home buying lawyer.
  • The parties negotiate. You need to prepare for certain contingency, such as not being able to sell your own home or not being able to receive financing. Your lawyer can make sure the contract contains these clauses. 

Moving Toward the Closing Date

As the big day arrives, you will need to continue with the closing process, including:

  • The buyer reviews the contract and signs off on it.
  • The buyer tenders a down payment check, which is sent to the seller’s attorney.
  • The seller signs the contract.
  • The buyer applies for a mortgage, if this is not been done yet.
  • The buyer calendars their mortgage commitment deadline.
  • The buying lawyer orders a title report and reviews the title for any problems. If there are problems, you will need an attorney to address them.
  • The parties coordinate the closing.

At the Closing

If all goes well, buyers should attend a final walk through of the home with the broker before heading to closing with their lawyer to review all paperwork and sign. We will tell you what documents you need to bring to the closing table so that you have everything lined up and can walk away with the keys to your new home.

If there are any problems at closing, or if the walk through was unsatisfactory, you can discuss them with your attorney who will advise you of next steps. You might need to cancel the sale or ask for certain concessions.

Contact Meyer & Spencer Today

Buying a new home should be an exciting experience. And it can be, if you have a home buying lawyer by your side who can sweat the details.

At Meyer & Spencer, we represent home buyers throughout Putnam County, including Mahopac. For more information, please call us today, 845-628-0009  or send us an online message.

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