Representing buyer clients is an essential part of who we are. A real estate purchase is one of the most impactful and personal decisions that you will make in your lifetime. It can be a complex process, constantly changing with market fluctuations and varying from state to state. As your trusted advisors in this process, we understand the importance of this choice.
Whether you’re a seasoned buyer or embarking on your first home-buying journey, this booklet is designed to enhance your understanding of the home-buying process in New Hampshire and Vermont. We are committed to a collaborative and loyal experiencefrom the initial meeting to closing and beyond, we support our buyers with a skilled team, the best local resources, lifestyle insights, and data. This guide serves as a framework, and we’ll delve deeper into its sections to ensure clarity in the process and instill confidence in your decision-making.
We are dedicated to our role as full-time real estate agents. We aim to be trusted advisors before, during, and after a transaction, providing exceptional service and advice every step of the way. We look forward to working with you.
—Evan & Leah
About Us
Evan Pierce
C: 201.401.4934
evan.pierce@fourseasonssir.com
Leah McLaughry
C: 603.359.8622
leah.mclaughry@fourseasonssir.com
Evan Pierce spent the first part of his professional career in the trading pits of Wall Street, brokering transactions between producers, end users, and speculative investors of soft commodities such as cotton, coffee, sugar, and cocoa. In 2009, he and his wife relocated their family to the Upper Valley seeking a better quality of life for their young family. It has been an amazingly positive experience for them all, and one that helps Evan advise both buyers and sellers in our unique community, where so many people are seeking to take advantage of the opportunities that the region offers.
Born and raised in the Upper Valley, Leah McLaughry is a third-generation real estate broker and has extensive knowledge of the local real estate market and area. Licensed in both Vermont and New Hampshire, she prides herself in her ability to listen to the needs of her clients, steer them through the transaction smoothly, and have some fun along the way. Buying or selling a home is the most important financial decision in a lifetime. Leah aims to stand as a trusted real estate adviser to help her clients make informed decisions and achieve their goals. She is ready to help in all aspects of the process and is excited to share her knowledge and love of the area.
The Buying Process
• Buyer Consultation
• Get Pre-Approved for a Loan
• Search for Your Home
• Make an Offer
• Offer is Accepted
• Apply for Mortgage & Hire a Licensed Inspector
• Inspection Period
• Final Lender Approval
• Utility Account Transfers
• Complete Final Walk-Through
• Attend Closing
• Receive Possession of Your New Home / Get Keys
Getting Pre-Qualified
If you intend to finance any part of your home purchase, getting pre-qualified is a critical first step. Understanding what your borrowing costs will be, and how much you can qualify for, will greatly help you to make informed decisions when it’s time to look for a property.
In the Upper Valley, we have some amazing local lenders who can work with you quickly to help determine your borrowing possibilities. While some people prefer to work with a large national bank, we have found that being pre-qualified locally can give you a leg up in competitive situations. While our area is growing, we are still a relatively small community, and the larger banks can be very rigid in their processes. Local lenders know the nuances of obtaining a loan in our region and can tailor the loan to fit your specific needs. Additionally, you are doing business in the community, with people you can get to know and rely on as you go through the process of home ownership. You will come to view your lender as another trusted advisor throughout the time that you own your home.
Once you identify a property that works for you, and it’s time to structure an offer, having a pre-qualification from a local lender will help to ensure that your offer is viewed favorably and that the process will be smooth. By putting the strongest possible offer in front of the home seller, we can help you get a signed contract on a home you will love with the best possible terms.
Search Process
• The majority of homes are publicly listed on the local MLS and real estate websites such as Zillow and Realtor.com. We like to arrange automated listing searches for our clients based on their criteria, ensuring they receive notifications when new listings become available.
• For listings not publicly available but potentially meeting your criteria, we maintain strong relationships with local agents and are well-connected within the community. This allows us to stay informed about off-market and in-house listings that sellers prefer not to make public.
• If you desire to live in a specific area and inventory is limited or unavailable, we can explore strategies to target neighborhoods and identify potential sellers who may be interested in selling.
Scheduling a Showing
• If you see a listing that interests you, contact Evan and Leah as soon as possible via email or text. Please provide us with a few desired day and time options, and we will schedule a tour of the property with the listing agent.
* Note that some homes require 24-48 hour notice before showings.
Making an Offer
WE’VE SEEN A HOME THAT YOU LOVE!
NOW WHAT DO WE DO?
Take a deeper dive
Although in some instances time is of the essence, our advice at this point is to slow down. Home buyers often want to beat competitors to the punch and get an offer on the table immediately. As tempting as this sounds, this is an important time to make sure you understand everything that has been presented to you about the property. This starts with the seller’s disclosure. The disclosure is the homeowner’s place to tell you everything that they know about the property, from systems like heating and cooling, age of the roof, water intrusions, fuel use... It’s a comprehensive document. Taking the time to carefully read the seller’s disclosure will help to inform you of exactly what you are buying. It’s also a great time to ask questions: What does this disclosure tell us about how the home has been maintained? What does ongoing maintenance look like? What does it cost to operate the property? How much useful life do some of the key components have? Reviewing the disclosure, along with seeing the property, should give you a pretty good idea of what you are getting if you are to buy the home. Taking the time to understand all of this before making an offer can help to avoid surprises down the road.
Constructing an offer
Once you are comfortable with all of the information that has been provided by the seller and the listing agent, it’s time to construct an offer. Offers are presented by means of a purchase and sale agreement. This gives you, the buyer, the opportunity to present to the seller the terms and conditions under which you would agree to purchase the property. These contracts have many details contained within them, but the key components of each offer are as follows:
• Price
• Deposits
• Closing Date
• Financing
• Inspections
• Any other potential terms and conditions that we need to add
We like to spend time going over the purchase and sale agreement in some detail well in advance of writing an offer, so that when the time comes to make an offer, you are familiar with all of the options contained within the contract, and how to make your offer stand out.
Once all of the details have been filled in, we send you the contract for your review, and when we are ready to go we send it to you for e-signature. Once you have signed the offer, we send it to the listing agent for presentation to the seller.
Hopefully, the seller agrees to the terms and conditions exactly as you have outlined them, but oftentimes it requires some further negotiation. If we reach an agreement and all parties have signed, then you are “under contract” to purchase the property!
Transaction Costs
Navigating the process of purchasing a home is an exciting venture, and at our core, we prioritize transparency to ensure a seamless and stress-free process for you. Understanding the costs associated with buying a home is pivotal, and we’re committed to bringing clarity to this aspect of your homeownership journey.
• Mortgage Loan Costs
• Home Inspection Fees
• Closing Prorations
Properties sold in both VT & NH are subject to a transfer tax. These are paid at closing as follows:
In Vermont, the principal residence transfer tax is paid by the buyer and is assessed at .5% on the first $200,000 of the purchase value, and 1.47% on the value paid above $200,000. The non-principal residence transfer tax rate is 3.62% of the purchase price.
In New Hampshire, the transfer tax is split equally between the buyer and the seller. Each side pays .75% of the purchase value (or 1.5% total).
This is often one of the biggest closing costs that buyers face and we feel it’s important to be aware of it.
• Closing Costs
• Transfer Tax
• Moving Costs
Closing Day
As we get closer to the closing date, you will start to receive information about setting up accounts for your new home. These would include the electric company, fuel provider, TV/internet provider, and other regular services that the home and property currently use (like snow removal, lawn and garden care, etc.). We will also ask the homeowners to provide lists of the people who have worked at the property on a regular basis for maintenance, like electricians, plumbers, heating/cooling contractors, etc., so that if anything should need attention you know who to call.
During this time you will also be hearing from your lender and your local attorney regularly. Do not ignore these messages! The attorney will be handling the closing process and will be looking to coordinate with you on that time. They will also be coordinating things such as wire transfers of down payment money (aside from your deposit) that you need to get to them in time for closing. You will also receive a Closing Disclosure (usually 2-3 days ahead of closing) which will be a detailed accounting of all of the monies involved and where they are going. Take the time to review this document and ask questions! Lastly, as we get near to closing your lender will be asking for any documents that may be required for final approval.
We will coordinate with you and the listing agent a time for a final walk-through of the property. The goal of the walk-through is to make sure the home is in the same condition (minus normal wear and tear) as it was at the time of your offer. It’s also a time to make sure that the owners have removed all of their personal property and contents or have a plan to remove those items. We work diligently to ensure that there are no surprises during a walk-through, but occasionally things do arise that require some attention. We will work with all parties to make sure that everything is in proper condition for the transfer of ownership.
From there it’s on to the closing! This usually takes 30-60 minutes at your attorney’s office, where you will review and sign all of the paperwork for your loan and the transfer of the property. Once everything is signed and the new deed is recorded in the land records, you are the owners of a new home!
Representation
Before embarking on the search process, we will thoroughly go over the buyer agency agreement with you, explaining how we are compensated when you find a home you love. Our commitment to assisting you as a buyer is highly valued, and we strive to manage every aspect of the process with professionalism and transparency.
• Agency Disclosure
• Buyer Agency Agreement
• P&S
• We’ll provide you with digital or PDF versions of the listed documents above, and go over them together.
