| Williamsburg, Brooklyn is a neighborhood that over | | | | wealth of real estate listings available. Craigslist, |
| the past 10 years has come into its own as one of | | | | Yahoo Real Estate, and are all good places to start. |
| New York City's most sought after neighborhoods, | | | | Also check your local paper's real estate section, local |
| due to its close proximity to Manhattan, bustling art | | | | real estate agencies' websites, and local real estate |
| and music scene, and plethora of shops, dining, parks, | | | | listing periodicals. |
| and amenities. The neighborhood has many new | | | | When you are viewing potential homes to buy, think |
| condos and luxury buildings, and buyers will find that | | | | about how it fits the criteria you have established. |
| they have many options to choose from when | | | | Will the floor plan work for you? Consider the |
| seeking out a new home in Williamsburg. | | | | amount of closets and storage space and how they |
| Step 1: Should You Use a Buyer's Broker? | | | | will fit your needs. There are many things that can be |
| There are many advantages to using a Buyer's | | | | easily renovated to make your home perfect for |
| broker when purchasing a home. They will be able to | | | | you, like putting in new countertops and cabinets in |
| assist you with every step of the buying process, | | | | the kitchen, or changing the lighting fixtures. Look at |
| from getting pre-qualified for a mortgage to closing | | | | the big picture, like the amount of light, total amount |
| on your dream home. They will be experienced in the | | | | of space, and location. |
| home-buying process and able to answer all of your | | | | Step 4: You've Found the Perfect Property; Now |
| questions and explain every step you take. A Buyer's | | | | What? |
| broker will save you time by emailing you detailed | | | | Once you have found the home that is right for you, |
| information and pictures of homes for sale that you | | | | it's time to put an offer in on the property. This is an |
| may be interested in viewing, and then scheduling and | | | | area in which using a buyer's broker proves a huge |
| attending all of your listing appointments with you. In | | | | advantage; they will be able to walk you through the |
| Williamsburg especially there are a great deal of | | | | process, advise you on what to offer, and put the |
| options available, and a buyer's broker will be able to | | | | formal offer together for you. |
| help you narrow down your search and find the right | | | | There are many things to consider when making an |
| home for you. | | | | offer. You need to be aware of the maximum price |
| Another advantage to using a buyer's broker is that | | | | you will be able to and willing to pay for the |
| they will be representing you and looking out for | | | | property, and consider making your first offer lower |
| your best interests, whereas the broker representing | | | | than this to leave room for negotiations. You also |
| the seller of the home you end up buying is obligated | | | | want to be careful about making a very low first |
| only to their client; meaning that they will be trying to | | | | offer; consider the current homeowner's emotional |
| get the highest price possible. Having a buyer's broker | | | | attachment to their house; a low offer to them could |
| representing you will ensure that there is someone | | | | be considered an insult to the home they have |
| on your side negotiating on your behalf. | | | | invested a great deal of time and energy into. |
| If you are experienced with the real estate buying | | | | There is more to a formal offer than just the price; |
| process, and not a first time homebuyer, you may | | | | you will need to consider the closing date, any |
| want to devote the extra time and energy to doing | | | | provisions you want included such as home appraisal, |
| it yourself. If this is your first time buying a home, | | | | house inspection, and termite inspection. Your buyer's |
| having a buyer's broker will save you a lot of time | | | | broker and attorney can help advise you on these |
| and stave off potential issues before they happen. | | | | issues. |
| The best part about using a Buyer's broker is that | | | | Don't be afraid to keep negotiating to get your offer |
| there is no cost to you! They split the commission | | | | accepted (within reason and up to your determined |
| that the seller's broker receives from the seller of | | | | maximum budget, of course). There will usually be |
| the home you buy. To find a good broker to work | | | | some amount of negotiating before an offer is |
| with, get referrals from friends and family who have | | | | accepted. |
| bought homes in your area. Talk to a few brokers to | | | | Once the seller has accepted your offer, you are one |
| find one that you feel comfortable working with and | | | | step away from moving into your new home! |
| understands your needs. | | | | Step 5: The Closing |
| Step 2: Everything You Need to Know About | | | | You will absolutely need a competent and |
| Financing | | | | experienced real estate attorney to assist you with |
| The first thing you need to do when you decide to | | | | the closing process on your home. For most people, |
| start looking for a home to buy is to sit down with a | | | | buying and selling a home will be one of the biggest |
| mortgage broker or lender and get pre-qualified for a | | | | and most important transactions you ever make; |
| loan. Your buyer's broker will be able to recommend a | | | | certainly a transaction worth having an attorney |
| mortgage broker or lender to you. If you have | | | | assist you with. Once you have made an accepted |
| bought a home in the past you can use the same | | | | offer on a house, there are many things that must |
| lender, or ask to speak to a mortgage specialist at | | | | be done before closing; home inspection, appraisal, |
| your local bank. They will be able to tell you how | | | | contract negotiations, title transfer, disclosures, etc. |
| much money you qualify to borrow and discuss how | | | | You will want an experienced attorney by your side |
| much of a down payment you will need to pay. They | | | | to make sure that all these processes go smoothly, |
| will go over your options for mortgages, and you will | | | | and to prevent any issues from arising. |
| know what price range of homes you should be | | | | Your attorney will help negotiate the terms of the |
| looking in. | | | | sale with the seller, and be able to examine all legal |
| There are many factors that will affect your interest | | | | documents and make sure there are no terms that |
| rate and type of loan you qualify for. Your credit | | | | are disadvantageous to you. They will be able to |
| score will be a big factor; it is a good idea to check | | | | explain all the legal terminology and legal issues that |
| your credit report with each of the 3 main credit | | | | are involved with the paperwork and documents for |
| scoring companies, Experian, TransUnion, and Equifax. | | | | selling your house. Many real estate attorneys charge |
| If there are any errors on your report you should | | | | a flat fee for handling the sale of your house, |
| contact the credit scoring companies to have them | | | | keeping your expenses down. |
| fixed. Your income and length of employment will also | | | | When it comes to finding a good attorney, the first |
| effect how you qualify for lending. | | | | thing you will want to check is that they are licensed |
| Step 3: Finding Your Perfect Place | | | | and in good standing. Ask questions about their |
| Once you have been pre-qualified for a loan and have | | | | experience, and make sure they specialize in real |
| determined what price range of houses you are | | | | estate law. Ask friends and family for |
| looking at, sit down and think about what criteria | | | | recommendations of good real estate attorneys in |
| your ideal home would have. How many bedrooms | | | | your area. |
| do you need? How big should your home be? How | | | | Once you have made an offer on a home that the |
| many bathrooms do you want? Consider what | | | | seller has accepted, your attorney and their attorney |
| neighborhoods you want to live in and how long your | | | | will negotiate the final details of and prepare the |
| commute to work will be. If you are planning on | | | | purchase agreement. This will include the legal |
| buying an apartment in a city, you will need to decide | | | | description of the property, the amount of "earnest |
| whether you prefer a co-op or a condominium. Also | | | | deposit" you escrow, the sale price of the home, the |
| consider how much work you are willing to put into a | | | | size of down payment to be made and how the |
| home; buying a fixer-upper can save you a good deal | | | | remainder of the purchase price will be financed, the |
| of money, and you may be surprised by how easy | | | | proposed closing and occupancy dates, contingencies |
| the work turns out to be. Attending some open | | | | such as attorney review, home inspection, and |
| houses and visiting different neighborhoods you are | | | | appraisal, and a breakdown of who will pay what |
| considering will help you narrow down your criteria. | | | | closing costs. |
| When looking to buy in Williamsburg, take into | | | | If a home inspection or home appraisal is a |
| consideration location; the Northside, off the Bedford | | | | contingency included in your purchase agreement, |
| L stop, will be the most expensive, but it also offers | | | | these will need to be scheduled and conducted |
| the most restaurants, shopping, and transportation, | | | | before the final closing date. |
| located only one stop from Manhattan on the L | | | | At the closing, typically you, the seller, your attorney, |
| subway line. | | | | the seller's attorney, a closing agent from either the |
| If you are using a buyer's broker, let them know | | | | lending or title company, and your real estate broker |
| what features you absolutely must have, and what | | | | (if you have one) will be present. At the closing your |
| features you would like to have. Then they will start | | | | attorney will go over all the closing documents with |
| searching for you and send you listing information and | | | | you and walk you through signing all the necessary |
| photos of properties that fit your criteria. They will | | | | paperwork. All closing and escrow fees will be paid |
| also schedule and attend appointments with you to | | | | and properly distributed. At the end of the closing, |
| view homes that fit your needs. | | | | congratulations! You will receive the keys to your |
| If you are looking on your own, the Internet has a | | | | new home and be ready to move in! |