Buying or selling a home in Plantsville?
Buying a home is an intimidating event for most people. However, with a little up-front planning, it's not very complex.
I like to supply buyers with an outline of the whole deal so they understand exactly what they can expect.
Here are my nine steps to purchasing a home.
When you're ready to get started, you can contact me here or e-mail me at . I'm glad to address any questions you have about this information.
Step 1 – Prepare to purchase a home
Before you start your home search, there are a lot of things you'll want to contemplate.
When you start your search, you'll probably want to put together an index of must-haves, plan for what school districts and neighborhoods you want to live in, and start planning around your budget.
A good guideline to follow is that your mortgage payment should be 1/3 of your monthly income.
Step 2 – Speak with a real estate agent in Plantsville
This is where Perrella Realty, LLC. comes in.
We'll plan a time to get together so we can talk about why you want to buy a home and get an idea of your plans for the future.
We'll talk about neighborhoods, school districts in the Plantsville area, the mortgage industry, and any other economic factors that could potentially affect your purchase today or in the future.
I'll also help you start the loan process.
Perrella Realty, LLC. partners with some of the best mortgage professionals in Plantsville, so you'll be in great hands.
They will help you determine which type of loan is best for you, as well as help you get qualified.
Step 3 – Start looking
After our initial meeting, I'll begin searching for available homes on the market that are a good fit for you.
I'll get a sneak peek of many of the houses and reject the duds, and then we'll schedule appointments to view the houses whenever it's convenient for you.
As we tour houses, I'll call attention to positive features and negative ones. I'll even ask you about things you like and dislike.
Usually, buyers amend their wish list as we tour houses and some things become far more substantial than others.
If that's the situation, I'll go back through all the listings another time and narrow it down to the house of your dreams.
Step 4 – Understand the housing market
My knowledge of the Plantsville housing market is a crucial factor in your house search. I am acquainted with all the school districts and neighborhoods, and I can communicate what districts are "hot" and warrant prompt action and the ones that are "cool" and allow for cautiousness.
As we view houses, I'll make sure to communicate when the seller's asking price has room for bargaining and when I trust the house is "priced to sell."
Be careful and be sure to ask lots of questions, as any REALTOR in Plantsville will convince you they comprehend the market.
If things don't add up, just call me at 860-621-7130 or e-mail me at , and I'll be more than happy to answer any questions you might have. My market expertise will keep you a step above the rest throughout the entire process.
Step 5 – Find the house of your dreams
I'm confident we'll find your dream home in Plantsville. When that happens, I'll carefully create your purchase offer. The offer will be tailored with your needs in mind and the home, including many contingencies. A few examples are acquiring financing, finishing the home inspection, and a clear title.
Upon presenting your purchase offer, you'll likely want to present "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property and is typically applied to the closing costs. If the offer is accepted by the seller, we should close on the property within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most contracts don't close on the beginning offer. It's widely common to receive a counter offer. But don't let it intimidate you. We'll talk over whether or not to accept the counter offer, propose our own counter offer, or reject the seller's offer and go on.
Market conditions determine how aggressively we negotiate the deal.
In addition, we'll work within your financing limits. And when it's all said and done, we'll put together a contract that's best for you.
Step 7 – Get a loan
After we sign the final sales contract, you'll start working with your mortgage lender to close the loan.
This shouldn't take long at all if you're pre-qualified, but you'll need to keep in close contact with your lender.
And I'll deal with all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of getting your application. You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your loan application.
The estimate is based on the loan amount, and RESPA requirements dictate that it has to involve 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 okay.
Then we'll close on your house. This will likely occur at a title company or escrow office and should be a smooth and relaxed occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you need anything or have any questions, be sure to contact me at 860-621-7130 or e-mail me at .