How To

HOW BUY A HOME IN THE HAMPTONS

In 10 Simple Steps...

1. WHAT AND WHERE? Determine what you would like to buy and where. Shingled traditional or modern? Which area? Each Hamlet has its own vibe so sometimes it’s helpful to RENT and explore for a season.
   
   
2. HOW MUCH HOUSE CAN YOU AFFORD? Is it a vacation home or a primary residence? Everyone has an individual collection of financial circumstances that make up the answer to this question.
   
   
3. FINANCE OR CASH? If you plan to finance, first meet with a mortgage broker to get pre-qualified for a mortgage. If you plan to buy cash, be prepared to have your lawyer verify assets before going into contract.
   
   
4.  THE SEARCH: Call me at (631) 379-3236 and let’s discuss your dream property.
   
   
5. SHOWINGS: This is the fun part, time to see it in person. This may take one tour or several but remember, this is a hyper-competitive market for everyone so you find THE ONE – act decisively!
   
   
6. THE OFFER: Consult your real estate agent and she will submit the offer and terms.
   
   
7. OFFER ACCEPTED: Hire an attorney (preferably local) to handle the contract and work closely with your real estate agent to ensure a smooth and speedy process. Schedule a home inspector to produce an engineer’s report and conduct relevant water quality tests and termite inspections.
   
   
8. IN CONTRACT: A good attorney and real estate agent will hold your hand through the contract process. The contract commonly includes:
   
   ​​​​​​​- purchase price
   -amount of down payment (usually 10%)
   -mortgage contingency
   -date and place of closing
   -description of the property
   -list of all personal property, fixtures, and appliances included in the sale
   -clauses of property ownership and permissible use
   -responsibilities of buyer and seller
   
   
9. ​​​​​​MORTGAGE (IF NECESSARY): With the fully executed purchase contract, you can now secure a mortgage commitment.
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10. CLOSING: Your attorney will attend the closing to handle the transfer of title and disburse necessary funds from escrow. Expect to pay 2-5% in closing costs for taxes, attorney, title and inspection fees. The seller usually pays the real estate broker’s commission.

HOW TO RENT A HOME IN THE HAMPTONS

And Make It Look Easy...

1. Call me at (631) 379-3236 if you would like to secure the PERFECT RENTAL or read on...
   
   
2. Start early, very early... The best rentals go quickly, sometimes before the snow melts. 
   
   
3. Imagine an ideal rental. Price range? Location? Bedrooms? Features? Style? Special considerations? 
   
   
4. If you're proactive and enjoy sifting through hundreds of search results, head to HREO.com because this is where MOST rental listings are found. HREO.com is a great tool for gathering info but the trouble is that most rental listing are "OPEN LISTINGS" so one property will be listed by multiple if not all the agencies which creates redundant search results.
   
   
5. After you've browsed HREO.com and perhaps picked out a few listings, you can set up appointments with the listing agent for each individual listing OR... you can select an agent who will conduct a search for you, schedule all the appointments, and show you all your potential rentals.
   
   
6. Sounds nice but how much does that cost? NOT A THING! Bear in mind that as a potential tenant, you are the customer of the agent. The agent represents the landlord and receives a commission from the landlord.
   
   
7. After you've conducted your search and found your dream rental, it's time to make an offer. You can negotiate time and price -- best to pick one, not both.

HOW TO SELL YOUR HAMPTONS PROPERTY

Let Me Do The Work...

1. Call me at (631) 379-3236 if you would like to discuss the value of your property or read on...
   
   
2. Get a feel for the current market- take a look at our MARKET REPORTS.
   
   
3. If you're ready to sell, it's time to choose an agent. ASK THE RIGHT QUESTIONS.
   
   
4. With the help of your broker, determine the value of your property with a comparative market analysis (CMA). Sellers set expectations but the market sets the price. KEY PRICING FACTS 
   
   
5. Based on your property valuation and personal objectives, work with your broker to set a price. A property that is priced correctly from the beginning typically achieves the highest proceeds. PRICE STRATEGICALLY
   
   
6. Make sure you have a custom-tailored marketing plan backed by the latest technology and a global brand. See how my MARKETING sets us apart.
   
   
7. Regular open houses and email blasts keep your listing top of mind in the brokerage community.
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8. Showings lead to offers, followed by an accepted offer, contract negotiations, and my personal favorite... SOLD AND CLOSED!