Buying or selling a home?
Buying a home is a stressful event for a lot of people, but it isn't too complicated with a bit of planning ahead of time.
So they'll understand exactly what to expect, I'll give buyers an outline of the entire deal.
Below are my nine steps to buying a home.
Should you have any questions about any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Get ready to purchase
Before you start searching for a home, there are several things you'll want to take into account.
You'll most likely want to make a checklist of items you need, get a feel for what neighborhoods you want to live in, and start working on your budget.
A good rule to go by is that your mortgage payment should be less than 1/3 of your net monthly income.
Step 2 – Contact a real estate agent
This is where I come in.
We can plan 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 talk about the mortgage and housing industries, other economic factors that could potentially affect your buying decision today or in the future, as well as neighborhoods and schools in the Plantsville area.
I can also help you facilitate the loan process.
There are some very good mortgage professionals in Plantsville, and I work with a lot of them, so you'll be in great hands.
They will assist you with choosing which kind of loan is best for you and help you get approved.
Step 3 – Start your home search
After we meet for the first time, I'll begin looking for available houses on the market that best suit you.
I'll get a sneak peek of most of the homes and remove the bad ones, and then we'll set up appointments to tour the homes whenever it's most convenient for you.
As we view houses, I'll call attention to good features, as well as negative ones. And I'll ask you to point out what things you like and don't like.
It's pretty common for buyers to change their list of must-haves as we view homes and some items become far more substantial than others.
If that's the case, I'll look through all the listings once more and narrow it down to the home you've been dreaming about.
Step 4 – Get a grasp of the housing market
My understanding of the Plantsville home market is an imperative agent in your home search. I am acquainted with all the schools and neighborhoods, and I can alert you to certain areas are "hot" and demand immediate action and others that are "cold" and allow for thoughtful examination.
When we view homes, I'll be sure to tell you if the list price has room for bargaining or if I believe the house is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions, as every real estate agent in Plantsville will tell you they comprehend the market.
If it doesn't seem like they know everything, just call me at 860-621-7130 or e-mail me at , and I'd be happy to answer any questions you may have. My knowledge of the market will help you stay a step above the rest throughout the entire process.
Step 5 – Find your dream house
I'm confident we'll find your dream home in the Plantsville area. When that happens, I'll precisely develop your real estate purchase offer. The offer will be made to suit your needs and the home. We'll include some contingencies, such as acquiring financing, completing the inspection, and a clean title.
Upon sending in your offer, most likely you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to buy the property and is typically applied to the closing costs. If your offer is accepted, we should close on the home within 30 to 60 days afterward. This allows ample time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most contracts don't close on the initial offer – it's extremely common to receive a counter offer. But don't let it alarm you. We'll talk over whether or not to consent to the counter offer, submit our own counter offer, or decline the seller's offer and go on.
Market circumstances will play a large role in how aggressively we negotiate the deal.
In addition, we'll work within your budget. And at the end of the day, we'll assemble a deal that works well for you.
Step 7 – Obtain a loan
After we sign the final deal, you'll begin working with your lender to close the loan.
This won't take long at all if you've been pre-qualified, but you should to keep in close contact with your mortgage lender.
And I'll sort out all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will furnish you with a Loan Estimate (LE) of closing costs within three days of accepting your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your lender within three days of receiving your loan application.
The estimate is formed from the loan amount, and RESPA requirements dictate that it has to include all closing costs and fall within a tight range of accuracy. I'll examine the estimate and let you know if it all looks good.
Then we'll close on your home. This will likely take place at a title company or escrow office and will probably be a smooth and stress-free occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything or have any questions, simply call me at 860-621-7130 or e-mail me at .