Maine Real Estate Buying Resources Understanding Heart and Mind Over the years we have discovered that most people let their heart find the home they love and then try to justify their purchase afterward. Our goal is to help you find a property that not only wins your heart, but makes good investment sense as well. When you contact us, either through our extensive web site or by calling, you'll be tapping into a wealth of information and market experience. We are accustomed to working with a variety of clients - from the first-time buyer to veterans of multi-million dollar real estate transactions. Regardless of your level of experience and expertise, we will answer all your questions with straight talk and facts - market knowledge that you can trust! Survey the Landscape Drive around and get a feeling for the Greater Portland area and its many neighborhoods and local communities. If your thinking about coastal or lakefront property, consult our Waterfront Real Estate section. Then, meet with us for about an hour to discuss your plans, time frame, "wish list" and "have to have" list. At that meeting we will also discuss how we will be working together, as well as some of the legal aspects of purchasing real estate in Maine. Search For Your Dream Home After our first meeting and a review of our "game plan", it will be time for us to go out and preview some properties. Since we will have done our homework and selected the most likely candidates, we won't waste your valuable time looking at homes that are not suitable. It's likely that once you've shared with us all of your requirements, we could find you the right home in a single afternoon. However, occasionally the first day becomes a familiarization tour and it takes another day to narrow down choices. Once you've fallen in love with a home and have made a decision, we'll write up the contract on a State of Maine approved form (Purchase and Sale Agreement), negotiate the purchase, and you'll be on your way. Access the Entire MLS When searching the Maine MLS on our web site, you have access to ALL properties listed for sale in the state of Maine. This is different from some agents who only want to show you houses that are in their inventory. Since this gives their client a partial picture of the available market, it could possibly result in them not getting the best chance of finding their dream home. We show all listings in the Maine MLS, regardless of what company has them listed. We sometimes show "For Sale By Owners" and unlisted properties as well. In other words, we will do whatever it takes to find you what you want. Negotiating Your Best Deal In spite of the current economic climate, ours is not a market where you can steal property. Most properties in Maine sell within 3 - 5% of their listed price. We'll provide the facts about recent sales and if we are representing you, we can help you determine the best offer to make which has a realistic chance of succeeding. Our specific advice will be based upon years of experience and successful transactions. With that in mind, here are some general tips: Make your offers clean and simple, with the fewest contingencies possible. Have "vision" beyond the obvious. Many Buyers can't see the potential in a property that doesn't present itself well. If you can, there may be an opportunity for you. If you are not paying cash, pre-qualify with a local lender and submit the letter of approval with your offer. Write a letter (or we can do it for you) to the Seller explaining why their home is the perfect choice for your family. We'll send it with the offer, because personalizing your offer can sometimes have a huge impact. Financing, Title Work and Other Details Most Maine buyers secure financing through locally based mortgage brokers. If you don't know a good loan broker, we can assist you finding one. Most homes under $1 million can be financed at 75-100% of value. Terms for loans over $1 million are determined individually, as are loans for construction and vacant land. Title companies prepare a report of public record findings for you and obtain insurance which provides protection against anyone else making a claim against all or part of the property which you are buying. The title report provides you the results of public record searches for judgments and liens against the property in question. The title report also contains a search to see if the sellers or buyers are in bankruptcy, a search to confirm that the registered structures on the property are built in conformity with local building codes. The title report also confirms that the seller or sellers really do own the property and have the power to sell it and that a survey map of the property and the legal description of the property are accra. Standard title insurance guarantees that if any party should ever appear and claim ownership or right to all or part of your property, the title insurance company will provide legal defense on your behalf and will indemnify you for any loss. Homeowner’s insurance is also known as hazard insurance. It is insurance against storm damage, fire, accidents and theft on your property, etc. If you are financing the purchase of your house with a mortgage, the lender will require you to purchase a homeowner’s insurance policy and have the first year’s premium paid before the closing date. Long Distance Purchases Thanks to the convenience of technology and overnight delivery, some closings are handled long distance. If you are an out-of-town buyer, we will oversee the completion of inspections and appraisals, as well as maintain day-to-day communications between the Seller, the Buyer, the lender and the title company. We ourselves have relocated several times and are personally familiar with all the issues of moving to a new area. In Closing We are committed to remaining your primary source of information and assistance, even months or years after closing. We don't believe our relationship is a fleeting one, but rather an opportunity to establish a lasting working relationship. We understand that the greatest praise we can receive for a job well done is the referral of your friends and family. We look forward to meeting them!