Buying a home in Plantsville
Buying a home is intimidating for most people, but with a little planning ahead of time, it's not that difficult.
I like to furnish buyers with an overview of the entire deal so they'll understand exactly what to expect.
These are my nine steps to purchasing a home.
Should you have any questions about this information or if you're prepared to get started, just contact me here or e-mail me at .
Step 1 – Prepare to buy
There are a lot of things you should take into account before you start looking for a home.
You'll want to make a check list of must-haves, get an idea of what neighborhoods and school districts you want to live in, and begin planning around your budget.
A good rule of thumb to follow is that your mortgage payment should be 30 percent of your net monthly income.
Step 2 – Communicate with a real estate agent
This is where Perrella Realty, LLC. can help.
I'd be happy to book a time to meet with you and communicate with you about why you want to buy a home and get an idea of your future plans.
We'll discuss the mortgage and housing industries, other economic factors that may potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Plantsville area.
I'll also help you begin the loan process.
Perrella Realty, LLC. partners with some of the finest mortgage professionals in Plantsville, so you're in great hands.
They will help you determine which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin your home search
After our initial meeting, I'll start finding available houses on the market that are great for you.
I'll get a sneak peek of many of the houses and remove the duds, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we view the houses, I'll call attention to positive features, as well as negative ones. And I'll ask you to tell us about things you like and don't like.
Oftentimes, buyers change their must-have list as we view houses and some items become more essential than others.
If such is the case, I'll search all the listings another time and trim it down to the house of your dreams.
Step 4 – Know the housing market
Your agent's understanding of the Plantsville home market is an imperative element in your house search. And I assure you I'm mindful of all the schools and neighborhoods, and I'll let you know certain districts are "hot" and require prompt action and the ones that are "cold" and allow for more consideration.
As we tour homes, I'll be sure to tell you when the seller's asking price has room for bargaining and when I believe the house is "priced to sell."
Be on guard and be sure to ask a lot of questions, as any real estate agent in Plantsville will tell 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 glad to answer any questions you might have. My market expertise will help you stay a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
I'm positive we'll find your dream home in Plantsville. When that happens, I'll thoroughly create your home purchase offer. The offer will be tailored exactly to your needs and the home, including some contingencies. A few examples are getting financing, completing the inspection, and a clear title.
When turning in your purchase offer, most likely you'll need to present "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's typically applied to the closing costs. If the seller accepts the offer, we should close on the property about 30 to 60 days afterward. This allows sufficient time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals don't close on the first offer – it's extremely common to receive a counter offer. Don't let it alarm you. We'll discuss whether or not to agree 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 deal.
We'll also work within your financing constraints. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Secure your loan
Upon finalizing the deal, you'll begin working with your lender to close the loan.
It won't take very long at all if you're already pre-qualified, but you need to keep in close contact with your mortgage lender.
And I'll manage all the property information your mortgage lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing your closing costs from your lender within three days of receiving your loan application.
This estimate depends on the loan amount, and RESPA requirements order that it has to involve all closing costs and be within a precise range of accuracy. I'll review the estimate and let you know if it all looks permissible.
Then we'll close on your home. This should take place at a title company or escrow office and should be a smooth and easygoing event.
Step 9 – Move in
Congratulations! Now you can move into your new home. Enjoy it. And if you need anything or have any questions, simply call me at 860-621-7130 or e-mail me at .