Buying your home in Davenport
Purchasing a home is a stressful event for many people, but with a bit of planning ahead of time, it's not too complex.
I like to give buyers an outline of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to buying a home.
If you have questions regarding any of this information or if you're ready to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
Before you start searching for a home, there are many things you need to do.
When you begin your search, you'll probably want to create a list of must-have features, get a feeling for what school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule to follow.
Step 2 – Connect with a real estate agent in Davenport
This is where Frontline Florida Realty Inc can help.
I'd be happy to arrange a time to meet with you and speak with you about your real estate needs and get an idea of your upcoming plans.
We'll talk about the mortgage industry, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and school districts in the Davenport area.
I'll also assist you with getting started on your loan.
There are some very good mortgage professionals in Davenport, and I work with a lot of them, so you'll be in great hands.
They can help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Start looking for a house
After our first meeting, I'll begin searching for homes on the market that best suit you.
I'll get a sneak peek of most of the homes and exclude the duds, and then we'll book appointments to view the houses whenever it's convenient for you.
As we view the houses, I'll point out positive features and bad ones. I'll even ask you about things you like and dislike.
Oftentimes, buyers change their list of must-haves as we tour homes and some items become more crucial than others.
If such is the case, I'll search all the listings again and narrow it down to the house you've been waiting for.
Step 4 – Comprehend the market
An agent's understanding of the Davenport market is a fundamental agent in your home search. And I can assure you I'm informed of all the school districts and neighborhoods, and I will let you know certain neighborhoods are "hot" and demand prompt action and some that are "cool" and allow for careful consideration.
As we view homes, I'll make sure to communicate when the seller's list price has room for negotiation and also when I believe the house is "priced to sell."
Any REALTOR will claim to comprehend the market, but beware, and make sure you ask your agent plenty of questions.
If things don't add up, contact me at 4073631031 or e-mail me at , and I'd be more than happy to answer your questions. My understanding of the market will keep you a step ahead throughout the entire process.
Step 5 – Find the home of your dreams
I'm confident we'll find your dream house in Davenport. When we do, I'll precisely develop your home purchase offer. The offer will be tailored keeping your needs in mind and the home, including many contingencies. A few examples are getting financing, finishing the inspection, and a clean title.
Upon submitting your offer, most likely you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to purchase the property, and it's most often applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days after. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most deals aren't closed on the beginning offer. It's pretty common to receive a counter offer. But don't let it discourage you. We'll talk over whether or not to take the counter offer, propose our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the deal depends on market conditions.
In addition, we'll work within your financing budget. And when it's all said and done, we'll formulate a deal that works well for you.
Step 7 – Secure your loan
Upon completion of the deal, you'll start working with your lender to close the loan.
If you're already pre-qualified, it shouldn't take very long at all. However, you need to stay in close contact with your mortgage lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your lender within three days of accepting your loan application.
This estimate rests on the loan amount, and RESPA requirements require that it has to include all closing costs and fall within a strict range of accuracy. I'll go over the estimate and let you know if it all looks all right.
Then it's time to close on your home. This will likely happen at a title company or escrow office and will likely be a smooth and relaxing event.
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, simply call me at 4073631031 or e-mail me at .