Buying a House in the Syracuse Area - the Short Version

The first step is talking to a mortgage agent. They will be able to tell you how much house you can afford and what type of loan you qualify for. There's no point looking at homes that you are not going to be able to buy. I can send you a list of loan agents if you do not already have one.

Next, you need to decide what features are important to you in a home and what areas you want to look in.

I will send you listings of homes that fit your criteria. These will automatically be delivered to you every day. When there is one you are interested in, I can send you more information and we can make an appointment to see it.

When you find a house you like, it's time to write an offer. We will sit down and decide how much to offer and what other conditions

In New York State, most offers will have some contingencies. That means there are conditions that must be met or you can cancel the contract.

The first one is that both parties lawyers must approve the contract. In New York, the buyer and seller each have their own attorney. Usually it's just a formality to approve the contract, but sometimes the lawyer doesn't like some of the conditions. The sellers can also use this to back out of the contract if they have another offer.

The next contingency is usually the home inspection. As soon as the contract is approved by both parties lawyers an inspection is scheduled. After the inspection you can ask the owner to make repairs or to credit money for repairs. They do not have to make the repairs and the contract can be cancelled.

The most common other contingency is sale of the buyer's current house.

After the contingencies are closed, the next step is for the Mortgage Commitment Letter. That is the real approval for the mortgage, where all the conditions have been met. Then the closing is scheduled.

Be aware that the mortgage call still be denied any time up until closing. So don't make any large credit purchases or open new accounts, and especially do not buy a car!

A day or two before the closing a final walkthrough is done, where the buyers and their agent make sure the house is in the same condition promised in the contract.

The closing is usually scheduled in one of the attorney's offices. Get ready to sign paper after paper!

At the end of this marathon signing session, you get the keys and you are a home owner.