Nicole Schreibstein Abbott
with Northrop Realty

Nicole Schreibstein Abbott with Northrop RealtyNicole Schreibstein Abbott with Northrop RealtyNicole Schreibstein Abbott with Northrop Realty
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Nicole Schreibstein Abbott
with Northrop Realty

Nicole Schreibstein Abbott with Northrop RealtyNicole Schreibstein Abbott with Northrop RealtyNicole Schreibstein Abbott with Northrop Realty
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Here is a Guide to Assist You With Your Search

I'm happy to talk you through the process!  However here is a step to step guide about the phases in the process and costs to anticipate when thinking about buying or selling a home!

Find out more

EACH STEP IN THE PROCESS

Hire Me

This Should be First!  

Choose a reputable real estate agent experienced in working with home buyers.  I will guide you through the entire process, provide market insights, connect you with the best industry partners and negotiate on your behalf.

Talk to a Lender

 Get Pre-Approved for a Loan

Evaluate your financial situation, including savings, income, and debts.  Talk to a lender to determine a realistic budget by considering your down payment, closing costs, and monthly mortgage payments.   

Determine Your Dream List

Determine Your Dream List

 Make a list of your desired home features, size, location preferences, and must-haves.  Prioritize your needs versus wants to narrow down your search.

Begin the Home Search

Determine Your Dream List

Utilize online listing platforms or the personalized portal that I can setup for you to begin looking at properties.  Attend open houses, drive around neighborhoods to get a better feel of the area.  TAKE NOTES!  It all starts to blend together!  Consider factors like location, schools, amenities, and future resale value.

Visit Homes

Once you figure out the specifics of your top preferences - go and visits homes in person!  Reach out to me, and I'll set up home tours for you!  Pictures are helpful, but nothing beats walking a home in person!

Put in an Offer

Once we find dream your home - we'll put in a formal offer!  I'll draft a contract with all the specifics:  price, financing, inspection & appraisal contingencies, and we'll talk about what makes YOUR offer a WINNING offer! 

Offer Accepted

Once our offer is accepted, we'll begin the closing process!  This includes last minute negotiations, final signatures and sending in an Earnest Money Deposit. 

Inspection Contingency

 Schedule professional home inspections to identify any potential issues.  Review inspection reports and potentially negotiate through any needed repairs with both parties.

Bank Appraisal

Underwriting by Lender

The lender with send out an appraiser to conduct a third party evaluation of the value of the property to ensure that it is worth the price being offered.  If the appraisal value is below the offer price, this can be negotiated further between both parties. 

Underwriting by Lender

Underwriting by Lender

After your offer is accepted, but prior to close your lender will reach out to do a deep dive into your finances to confirm your financial ability to purchase the home.  It is very important that you make no large purchases or out of the norm transactions with anyone until after closing.  

Title Company

Homeowners Insurance

You will work with a trusted title company to conduct a title search and ensure a smooth transfer of ownership.  

Homeowners Insurance

Homeowners Insurance

 Secure homeowner's insurance coverage and finalize your mortgage financing. 

Closing

Post-Purchase Responsibilities

Moving In

 Attend the closing meeting with your agent and relevant parties to sign the necessary paperwork.  Make sure to transfer funds for the down payment and closing costs at least 24 hours in advance of closing or get a cashier's check.  Receive the keys and officially become a homeowner!

Moving In

Post-Purchase Responsibilities

Moving In

Make sure to have a dependable moving company to ensure that every part of your move goes smoothly.  

Post-Purchase Responsibilities

Post-Purchase Responsibilities

 Set up utilities and change your address with relevant organizations.  Create a maintenance plan to preserve your property's value.  Understand your property tax obligations and explore available tax benefits.

Enjoy Your Home

Refer Me to Your Friends!

Love your home!  Live in your home!  Decorate your home!  Make memories in your home!

Refer Me to Your Friends!

Refer Me to Your Friends!

Refer Me to Your Friends!

Make sure to tell your friends & family how great it was to work with me!

COSTS INVOLVED WITH BUYING A HOME

Down Payment

 This is the initial payment you make toward the purchase price of the home. The down payment amount typically ranges from 3% to 20% of the home's purchase price, depending on the type of mortgage and your financial situation. 

Closing Costs

These are fees and expenses associated with finalizing the home purchase and typically range from 2% to 5% of the purchase price. Some common closing costs in Maryland include:


Loan Origination Fees: These cover the lender's administrative costs for processing the mortgage loan· Appraisal Fees: An appraisal is required to determine the market value of the property

Home Inspection Fees: Hiring a professional inspector to evaluate the home's condition.

Title Insurance: Protects against any issues or disputes with the property's ownership.

Attorney Fees: If an attorney is involved in the closing process, their fees will apply. (Less Common)

Recording Fees:  Charged by the local government to record the deed and other documents.

Transfer Taxes: Maryland imposes state and local transfer taxes on the property sale.

Prepaid Expenses: These include property taxes, homeowner's insurance, and prepaid mortgage interest.

Homeowners Insurance

Lenders typically require you to obtain homeowners insurance to protect the property and its contents against damage or loss. The cost varies based on factors such as the home's value, location, and coverage limits. If its in a flood zone, you’ll have to get additional coverage specifically for floods.

Property Taxes

Property taxes in Maryland are assessed by local governments and can vary depending on the county or municipality. The amount you pay is based on the assessed value of the property. 

Private Mortgage Insurance (PMI):

If your down payment is less than 20% of the home's purchase price, you may be required to pay PMI. This insurance protects the lender in case of default and adds an additional cost to your monthly mortgage payment.

Moving Expenses

Budget for expenses related to moving your belongings to the new home, such as hiring movers, renting a truck, or packing supplies.


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