Buying or selling a home? Perrella Realty, LLC. can help.
With a little up-front planning, purchasing a home isn't that confusing, but the event is stressful for a lot of people.
I like to furnish buyers with a road map of the whole deal so they'll understand exactly what to expect.
Below are my nine steps to purchasing a home.
Should you have questions about any of this information or if you're prepared to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to purchase a home
Before you start searching for a home, there are plenty of things you need to take into account.
When you begin your search, you'll probably want to create an outline of items you need, get a feeling for what neighborhoods and school districts you'd like to live in, and start planning your budget.
Keeping your mortgage payment less than or around 30 percent of your monthly income is a good guideline to adhere to.
Step 2 – Talk to a real estate agent
That's where I can help.
We can arrange a time to get together so we can talk about why you want to buy a home and get an idea of your future plans.
We'll talk about neighborhoods, school districts in the Plantsville area, the mortgage and housing industries, and any additional economic factors that may affect your purchase today or in the future.
In addition, I'll help you start the loan process.
There are some very good mortgage professionals in Plantsville, and I partner with a lot of them, so you'll be in great hands.
They'll assist you in deciding which kind of loan is best for you and help you get qualified.
Step 3 – Begin house hunting
Following our first meeting, I'll begin looking for available houses on the market that are good for you.
I'll preview most of the houses and throw out the duds, and then we'll schedule appointments to tour the homes when it's convenient for you.
When we view the homes, I'll show you the positive features, as well as negative ones. I'll also ask you to point out what things you like and don't like.
For the most part, buyers update their list of must-haves as we view houses and some features become more substantial than others.
If that's the situation, I'll search all the listings again and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My knowledge of the Plantsville home market is a fundamental factor in your house search. I'm mindful of all the neighborhoods and schools, and I can communicate some areas are "hot" and warrant immediate action and the ones that are "cool" and allow for careful consideration.
When we view homes, I'll be sure to tell you when the list price has room for bargaining and also when I trust the house is "priced to sell."
Be on guard and be sure to ask a lot of questions, as any real estate agent will tell you they understand the housing market.
If things don't add up, call me at 860-621-7130 or e-mail me at , and I'll be more than happy to answer your questions. My understanding of the market will keep you a step above the rest through the entire process.
Step 5 – Find the home you've been waiting for
I'm certain we'll find your dream home in the Plantsville area. When we do, I'll meticulously create your home purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as obtaining financing, completing the home inspection, and a clean title.
Upon sending in your offer, you'll need to submit "earnest money." This is a cash deposit submitted to a seller to secure an offer to buy the property, and it's typically applied to the cost of closing. If the seller accepts your offer, we should close on the home about 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
A lot of contracts aren't closed on the initial offer, and it's pretty common to receive a counter offer. 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 go on.
How aggressively we negotiate the contract depends on market circumstances.
We'll also work within your financing budget. And when it's all said and done, we'll put together a deal that is best for you.
Step 7 – Secure financing
Upon signing the contract, you'll begin working with your lender to close the loan.
This won't take much time at all if you're pre-qualified, but you should to stay in close contact with your mortgage lender.
And I'll care for all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your lender will give you a Loan Estimate (LE) outlining closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of accepting your loan application.
This estimate depends on the loan amount. RESPA requirements order that it has to include all closing costs and fall within a strict range of accuracy, and I'll analyze the estimate and let you know if everything looks adequate.
Then it's time to close on your home. This will probably occur at a title company or escrow office and will probably be a smooth and comfortable occasion.
Step 9 – Move in
Congratulations! It's time to move into your new home. Enjoy it. And if you have any questions, just contact me at 860-621-7130 or e-mail me at .