Buying a home in LOUGHMANFor many people, buying a home can be a stressful event. But with a bit of up-front planning, it's not too confusing. I like to supply buyers with an outline of the whole deal so they know exactly what they can expect. Below are my nine steps to buying a home.
|When you're ready to get started, you can contact me here or send e-mail to firstname.lastname@example.org. I'm happy to answer any questions you have regarding this information.|
Step 1 – Prepare to purchase a home
Before you begin searching for a home, there are many things you need to take into account. When you start your search, you'll want to assemble an index of features you want, get a feeling for what neighborhoods and school districts you want to live in, and begin planning around your budget. A good guideline to go by is that your mortgage payment should be less than or close to 30 percent of your net monthly income.
Step 2 – Get with a real estate agent
That's where I come in. We'll set up a time to get together so we can talk about your real estate needs and get an idea of your future plans. We'll discuss the mortgage and housing industries, other economic factors that might affect your purchase today or in the future, as well as neighborhoods and schools in the LOUGHMAN area.
I can also help you facilitate the loan process. There are some great mortgage professionals in LOUGHMAN, and I work with a lot of them, so you can rest assured that you're in great hands. They'll help you choose which kind of loan is best for you, as well as help you get qualified.
Step 3 – Begin looking for a house
After our initial meeting, I'll start looking for homes on the market that meet your needs. I'll preview many of the homes and remove the duds, and then we'll book appointments to view the homes when it's convenient for you.
As we tour the homes, I'll call attention to good features, as well as bad ones. I'll also ask you about things you like and dislike. It's pretty common for buyers to amend their must-have list as we view homes and some things become more important than others. If that happens, I'll go back through the listings another time and trim it down to the home of your dreams.
Step 4 – Get a feel for the housing market
My awareness of the LOUGHMAN home market is an essential benefit in your house search. I'm mindful of all the neighborhoods and schools, and I can alert you to what neighborhoods are "hot" and warrant immediate action and others that are "cold" and allow for cautiousness.
When we view houses, I'll let you know if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
Be on guard and make sure you ask lots of questions, as every real estate agent will convince you they comprehend the market.
If it doesn't seem like they know everything, just call me at 321-420-8806 or e-mail me at email@example.com, and I'd be happy to answer any questions you have. My market expertise will keep you a step ahead throughout the entire deal.
Step 5 – Find the home of your dreams
I'm confident we'll find the house of your dreams in LOUGHMAN. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored keeping your needs in mind, including some contingencies, such as obtaining financing, finishing the home inspection, and a clean title.
Upon sending in your offer, most likely you'll need to submit "earnest money." This is a cash deposit submitted to a home seller to secure an offer to buy the property, and it's usually put towards the cost of closing. If the seller accepts the offer, we should close on the property about 30 to 60 days after. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Most deals don't close on the beginning offer – it's widely common to receive a counter offer. But don't let this alarm you. We'll consider whether or not to agree to the counter offer, propose our own counter offer, or decline the seller's offer and move on.
How aggressively we negotiate the contract depends on market conditions. In addition, we'll work within your financing budget. And at the end of the day, we'll compose a contract that is best for you.
Step 7 – Get a loan
Once we sign the final deal, you'll begin working with your mortgage lender to close the loan. This won't take long at all if you're pre-qualified, but you'll need to keep in close contact with your mortgage lender. And I'll sort out all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will furnish you with a Good Faith Estimate (GFE) outlining your closing costs within three days of accepting your application. You'll get a Good Faith Estimate (GFE) detailing closing costs from your mortgage lender within three days of taking your application. This estimate is formed from the loan amount, and RESPA requirements require that it has to involve all closing costs and fall within a narrow range of accuracy. I'll go over the estimate and let you know if it all looks good.
Then it's time to close on your home. This will most likely happen at a title company or escrow office and will most likely be a smooth and pleasant event.
Step 9 – Move in
You made it! It's time to move into your new house. Enjoy it. And if you need anything, just call me at 321-420-8806 or send me an e-mail.