Buying or selling a home? Perrella Realty, LLC. can help.
Purchasing a home is stressful for most people. However, with a little up-front planning, it's not that complicated.
So they'll know exactly what to expect, I like to provide buyers with a road map of the entire deal.
Here are my nine steps to purchasing a home.
Should you have questions regarding this information or if you're ready to get started, just contact me here or e-mail me at .
Step 1 – Get ready to purchase a home
There are plenty of things you need to do before beginning your home search.
You'll probably want to form an outline of features you need to have, plan for what school districts you'd like to live in, and start planning your budget.
Ensuring your mortgage payment is less than or around 30 percent of your net monthly income is a good principle to go by.
Step 2 – Get in touch with a real estate agent in Plantsville
This is where I can help.
I'd love to plan a time to get together 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 purchase today or in the future, as well as neighborhoods and school districts in the Plantsville area.
I'll also help you begin the loan process.
Perrella Realty, LLC. works with some of Plantsville's finest mortgage professionals, so you can rest assured that you're in great hands.
They'll assist you in choosing which kind of loan is best for you and help you get qualified.
Step 3 – Begin your search
After we meet, I'll begin looking for houses on the market that suit your needs.
I'll research many of the houses and remove the bad ones, and then we'll schedule appointments to tour the houses at a time that's convenient for you.
When we view houses, I'll identify good features, as well as bad ones. I'll even ask you to point out what things you like and don't like.
It's pretty common for buyers to revise their must-have list as we view houses and some features become far more important than others.
If that happens, I'll look through the listings once more and narrow it down to the home you've been waiting for.
Step 4 – Know the housing market
My awareness of the Plantsville housing market is an essential element in your house search. I'm conscious of all the neighborhoods and school districts, and I can communicate some districts are "hot" and demand prompt action and some that are "cold" and allow for more examination.
As we view homes, I'll let you know when the seller's list price has room for bargaining and also when I believe the home is "priced to sell."
When working with an agent, be careful and be sure to ask a lot of questions, as any real estate agent will claim to understand 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 your questions. My knowledge of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been looking for
We'll find the home of your dreams in the Plantsville area, and when that happens, I'll meticulously develop your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including several contingencies, such as getting financing, carrying out the home inspection, and a clear title.
Upon turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit given to a home seller to secure an offer to buy the property, and it's usually applied to the cost of closing. If the seller accepts your offer, we should close on the property about 30 to 60 days afterward. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate
Unfortunately most deals don't close on the first offer, and it's very common to receive a counter offer. But don't let this intimidate you. We'll discuss whether or not to take the counter offer, submit our own counter offer, or reject the seller's offer and move on.
How aggressively we negotiate the contract depends on the state of the market.
We'll also work within your budget. And at the end of the day, we'll compose a deal that's best for you.
Step 7 – Obtain a loan
Once we sign the final contract, you'll start working with your mortgage lender to close the loan.
If you've been pre-approved, this shouldn't be a long process at all. But you'll want to stay in close contact with your mortgage lender.
And I'll handle all the property information your lender will need to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing your closing costs within three days of getting your loan application. You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of getting your application.
The estimate is formed from the loan amount. RESPA requirements mandate that it has to include all closing costs and fall within a strict range of accuracy, and I'll go over the estimate and let you know if everything looks permissible.
Then we'll close on your home. This will most likely take place at a title company or escrow office and should be a smooth and easygoing 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, simply call me at 860-621-7130 or e-mail me at .