Buying a home can be stressful for many people, but with a little planning ahead of time, it's not too confusing.
So you'll know exactly what to expect, I like to supply my buyers with an overview of the whole deal.
Below are my nine steps to purchasing a home.
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If you have questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at cmrealty@msn.com.
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Step 1 – Prepare to purchase
There are plenty of things you should take into account prior to starting your home search.
When you begin your search, you'll want to form an outline of features you want to have, get a plan of what neighborhoods you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your monthly income is a good principle to adhere to.
Step 2 – Communicate with a real estate agent in Combine
That's where I come in.
We can book a time to meet so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss neighborhoods, school districts in the Combine area, the mortgage and housing industries, and any additional economic factors that might affect your buying decision today or in the future.
I can also assist you with getting started on your loan.
I work with some of the finest mortgage professionals in Combine, so you'll be in great hands.
They can assist you in figuring out which kind of loan is best for you and help you get approved.
Step 3 – Start your search
After our first meeting, I'll start finding houses on the market that best suit you.
I'll research many of the houses and throw out the duds, and then we'll book appointments to tour the houses at a time that's convenient for you.
As we tour the homes, I'll call attention to positive features and negative ones. I'll even ask you to tell us about things you like and don't like.
Oftentimes, buyers revise their must-have list as we view homes and some items become far more essential than others.
If that's the situation, I'll look through the listings once more and narrow it down to the house you've been dreaming about.
Step 4 – Get a grasp of the market
Your agent's awareness of the Combine home market is a leading factor in your house search. And I can assure you I'm informed of all the school districts and neighborhoods, and I will communicate what areas are "hot" and call for immediate action and others that are "cold" and allow for more consideration.
As we tour homes, I'll make sure to communicate if the seller's list price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be careful and make sure you ask lots of questions, as every real estate agent in Combine will tell you they truly know the home market.
If it doesn't seem like they know everything, contact me at 972-476-6706 or e-mail me at cmrealty@msn.com, and I'd be glad to answer your questions. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in the Combine area, and when that happens, I'll carefully develop your home purchase offer. The offer will be written keeping your needs in mind. Whenever necessary, I never forget to make contracts contingent upon items like acquiring financing and the results of the home inspection.
When we present your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property, and it's often put towards the closing costs. If the offer is accepted, we should close about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer. It's very common to receive a counter offer. But don't let this alarm you. We'll figure out whether or not to consent to the counter offer, submit our own counter offer, or refuse the seller's offer and move on.
Market conditions determine how aggressively we negotiate the contract.
In addition, we'll work within your financing constraints. And at the end of the day, we'll formulate a deal that is best for you.
Step 7 – Secure your loan
After the deal is signed, you'll begin working with your mortgage lender to close the loan.
It shouldn't take long at all if you're pre-approved, but you'll need to keep in close contact with your lender.
And I'll care for all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
Your lender will supply you with a Good Faith Estimate (GFE) detailing your closing costs within three days of receiving your loan application. You'll get a Good Faith Estimate (GFE) outlining closing costs from your mortgage lender within three days of receiving your application.
This estimate rests on the loan amount, and RESPA requirements order that it has to include all closing costs and fall within a precise range of accuracy. I'll analyze the estimate and let you know if everything looks all right.
Then we'll close on your house. This will probably happen at a title company or escrow office and will probably be a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you have any questions, just call me at 972-476-6706 or send me an e-mail.
