Purchasing your home in
Purchasing a home is stressful for most people. However, with a little planning ahead of time, it's not very complicated.
So they know exactly what to expect, I like to give buyers a road map of the entire deal.
These are my nine steps to buying a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm happy to address any questions you have about this information.
Step 1 – Prepare to purchase
There are several things you need to contemplate before you look for a home.
You'll want to make an index of features you want to have, get a feel for what school districts you'd like to live in, and begin working on your budget.
Keeping your mortgage payment less than 1/3 of your net monthly income is a good rule of thumb to adhere to.
Step 2 – Talk to a real estate agent
This is where I come in.
We can plan a time to get together so we can talk about your real estate needs and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
In addition, I'll assist you with getting started on your loan.
I partner with some of the best mortgage professionals in , so you're in great hands.
They will help you choose which type of loan is best for you, as well as help you get approved.
Step 3 – Start looking
After we meet for the first time, I'll begin finding homes on the market that suit your needs.
I'll research many of the houses and ignore the bad ones, and then we'll set up appointments to view the houses when it's convenient for you.
When we tour houses, I'll call attention to good features, as well as negative ones. And I'll ask you about things you like and don't like.
As a rule, buyers update their wish list as we view homes and some things become far more substantial than others.
If that's the case, I'll look through the listings again and narrow it down to the home of your dreams.
Step 4 – Get a grasp of the market
Your agent's understanding of the market is a leading factor in your home search. And I assure you I'm familiar with all the neighborhoods and school districts, and I will let you know which areas are "hot" and call for prompt action and others that are "cold" and allow for thoughtful analysis.
When we tour homes, I'll be sure to tell you when the asking price has room for negotiation and when I trust the house is "priced to sell."
Be on guard and make sure you ask your agent a lot of questions, as any real estate agent will claim to comprehend the home market.
If things don't add up, just call me at 4078324888 or e-mail me at , and I'll be more than happy to answer any questions you may have. My understanding of the market will keep you a step above the rest through the entire deal.
Step 5 – Find the house of your dreams
We'll find the home of your dreams in , and when we do, I'll precisely create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as acquiring financing, completing the home inspection, and a clean title.
Upon presenting your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to the seller to secure the offer to buy the property and is typically put towards the cost of closing. If the offer is accepted, we should close on the home about 30 to 60 days after. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the first offer. It's really common to receive a counter offer. Don't let it intimidate you. We'll discuss whether or not to take the counter offer, present our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
We'll also work within your financing constraints. And at the end of the day, we'll formulate a contract that is best for you.
Step 7 – Get a loan
Once we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-qualified, this won't take much time at all. But you should to keep in close contact with your mortgage lender.
And I'll take care of all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) detailing closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of getting your application.
The estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your home. This will most often occur at a title company or escrow office and will most likely be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 4078324888 or e-mail me at .