STRATEGIES FOR A SUCCESSFUL BUYING TRANSACTION.

The broker’s at Millbrook Real Estate strive to following principals of  BEST PRACTICE.  We arm ourselves with detailed market knowledge, continually research properties and market forces, and present you with properties to view befitting your requirements.

We understand that whether moving here “full time” or for weekend lifestyle enhancement, your broker should be a loyal, discrete, hard working and be able to add value to your experience. We ourselves have built and renovated houses put our farms and land into conservation, we know builders, landscapers and general service providers or where to get the best cup of coffee in town.  We add a whole new meaning to “turn-key”.

We see every client as a potential neighbor; we wish to continue our success through our strong referral network.

THE SEARCH
  • Our first question is often “how well do you know the area?”  Many of our new clients may have stayed with friends in the area or come up for a party or an event and wished to explore the potential of the area in more detail.
  • We shall arrange for you to view properties to your specifications in the large geographical area we cover, should you have no set location in mind.  This enables you to weed out some locations and even styles and sizes of houses and properties, enabling you to more focus your search.
  • Our aim is to make you the most knowledgeable buyer out there, so that you can make informed decisions on the location, historical value and the current market dynamics.  If we are not adding a great deal of value to your search process then we are doing our job!
  • You identify a property you wish to pursue.
  • We would recommend that by this stage you have selected an attorney who is familiar with the area as well as identify any lenders which you may or may not require.
  • Be familiar with all the closing costs involved in buying a property, including mortgage taxes, mansion taxes, title insurance and other fees.  Enter the negotiation process with “full knowledge.”

 

MAKING AN OFFER

THE OFFER. THE NEGOTIATION.

  • After a detailed discussion of how to proceed we will submit an offer to the sellers’ representative, either verbally or in writing detailing the price, terms and conditions.  Depending on our strategy, a decision as to whether to make a cash offer or have a mortgage contingency in the offer is critical at this time.
  • More often than not, this offer is countered by the seller. There may be more than one round of back and forth.  This can sometimes happen over a few hours or indeed,  many weeks. Be prepared for either and all eventualities.
  • On occasion, the seller may have multiple offers to consider. We shall do our level best to obtain as much information about competing bids as is ethically possible. Depending on how the seller wishes to proceed, we may be asked to make our “highest and best” offer.
  • The negotiation ends when both parties have come to a “meeting of the minds” over price, terms and conditions.
  • The seller’s attorney will then prepare the contract of sale and forward it to your attorney for review.

 

DUE DILIGENCE

  • We shall assist you in finding the professionals that can help you in this process.  This includes, but is not limited to, engineering, property condition and any environmental inspections ordered by you as directed by your attorney.   We shall be on-hand at every stage of the process to answer questions where appropriate and follow up with inspectors to gain access when necessary.
  • Inspections usually take from four hours to as much as three days, depending on the size and nature of the property and the level of investigation require by you, the buyer.
  • If any issues arise we and the attorneys will exert all our efforts to resolve them to your satisfaction.

 

THE CONTRACT.

  • The seller’s attorney forwards the contact to your attorney.  If, and or when it is returned with your signature and the consideration, (traditionally 10% of the agreed purchase price), the seller will sign and return an executed copy to your attorney.
  • At this stage you have a contract for sale with a deposit at risk, should you not complete the transaction.  You must speak with your attorney with regard to ALL LEGAL MATTERS pertaining to the transaction.  Your broker cannot and should not offer ANY LEGAL ADVICE  AT ANY TIME.

THE CLOSING.

  • The date and location of the closing are determined by the attorney’s, who take into account the needs of all parties involved, which in addition to the attorneys and principals may include the lender’s representative, the title company representative and the representative of any other party involved such as a conservation organization.
  • Prior to the closing, we shall organize a walk through of the property with you.  Some buyer’s are more thorough that others so the inspection may take a few minutes or a few hours.  Everything that is represented in the contract as included in the sale should be there for inspection and be in working order.
  • We shall also ensure that any fuel/propane tanks are filled and invoices are sent to the attorney and that you have been given ample opportunity to set up the relevant accounts necessary for the smooth transition of services.
  • Your lawyer will have discussed with you the details of the transaction including the closing costs involved in this transaction.
  • Receive the keys to your new house and start enjoying the finest four seasons lifestyle the area provides.