Gillen Residential Team
Homebuying
At Gillen Residential, we take pride in our extensive experience helping everyone from first-time homebuyers, to experienced buyers navigate the real estate market. Whether you're purchasing your first home or upgrading to a new property, our knowledgeable team is dedicated to providing personalized guidance at every step. We understand that each client has unique needs, and we work tirelessly to ensure a smooth, informed, and successful home-buying experience tailored to your specific goals.
Homebuying Process
1. Get Pre-Approved
The first step of house hunting is to get pre-approved for a mortgage to understand your budget and show sellers you're a serious buyer.
4. Under Agreement
​Upon acceptance of the offer
the transaction becomes ‘under agreement.’ Once the deal is under agreement, it’s time to schedule a home inspection and an appraisal to ensure the value and integrity of the home.
2. House Hunting
Work with your real estate agent to find properties that match your criteria, considering location, size, and budget.
5. Purchase & Sale
The Purchase & Sale agreementis the
document representing the property being legally transferred from the seller to the buyers. At Purchase & Sale the buyers will make their first deposit on the property (usually 5-10% of purchase price).
3. Make an Offer
Once you find a home you like, submit an offer. Your agent will help you negotiate the price and terms with the seller.
6. Closing
Closing involves all parties in the transaction, buyer/seller, mortgage lenders and attorneys. The closing day is when the keys to the property are transferred to the buyer and the transfer is recorded at the registry of deeds.