Buying or selling a home in Plantsville?
Buying a home is intimidating for most people, but with some up-front planning, it's not that hard.
I like to furnish buyers with an outline of the whole deal so they'll understand exactly what they can expect.
Below are my nine steps to purchasing a home.
When you're ready to get started, simply contact me here or e-mail me at . I'm glad to address questions you have regarding this information.
Step 1 – Prepare to buy a home
There are several things you need to take into account before you start looking for a home.
You'll want to make a checklist of features you want to have, get a feeling for what neighborhoods and school districts you'd like to live in, and start planning around your budget.
Keeping your mortgage payment less than or close to a third of your net monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent
This is where Perrella Realty, LLC. can help.
I'd like to book a time to get together with you and communicate with you about your real estate needs and get an idea of your future plans.
We'll discuss neighborhoods, schools in the Plantsville area, the mortgage industry, and any additional economic factors that could affect your buying decision today or in the future.
I'll also help you facilitate the loan process.
Perrella Realty, LLC. partners with some of the finest mortgage professionals in Plantsville, so you can rest assured that you're in great hands.
They will help you figure out which kind of loan is best for you, as well as help you get approved.
Step 3 – Begin house-hunting
After our initial meeting, I'll begin looking for houses on the market that suit your needs.
I'll preview most of the homes and reject the bad ones, and then we'll schedule appointments to tour the homes whenever it's convenient for you.
As we tour houses, I'll show you the good features and bad ones. And I'll ask you to point out what things you like and don't like.
It's common for buyers to amend their list of must-haves as we tour homes and some things become far more substantial than others.
If that's the case, I'll go back through the listings another time and trim it down to the house you've been wishing for.
Step 4 – Know the housing market
My knowledge of the Plantsville home market is a leading component in your home search. I'm acquainted with all the neighborhoods and school districts, and I can let you know some neighborhoods are "hot" and call for immediate action and others that are "cool" and allow for thoughtful consideration.
As we tour houses, I'll let you know when the seller's list price has room for negotiation and when I know the house is "priced to sell."
When working with an agent, be mindful and make sure you ask a lot of questions. Any real estate agent will convince you they know the home market.
If things don't add up, call me at 860-621-7130 or e-mail me at , and I'll be happy to answer your questions. My understanding of the market will keep you a step ahead throughout the entire deal.
Step 5 – Find the home you've been waiting for
We'll find your dream house in Plantsville, and when that happens, I'll precisely develop your home purchase offer. The offer will be made to fit your needs and the home. We'll include several contingencies, such as getting financing, completing the home inspection, and a clear title.
Upon turning in your offer, you'll want to present "earnest money." This is a cash deposit given to a seller to secure the offer to purchase the property. The amount is usually put towards the closing costs. If the offer is accepted by the seller, we should close on the home within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
Most deals don't close on the first offer. It's very common to receive a counter offer. Don't let this discourage you. We'll figure out whether or not to accept the counter offer, present our own counter offer, or decline the seller's offer and move on.
The state of the market will play a vital role in how aggressively we negotiate the contract.
In addition, we'll work within your financing limits. And at the end of the day, we'll create a deal that is best for you.
Step 7 – Obtain a loan
Once the contract is finished, you'll start working with your mortgage lender to close the loan.
If you're pre-approved, this shouldn't be a long process at all. But you should to stay in close contact with your lender.
And I'll look after all the property information your lender will need to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) detailing closing costs from your lender within three days of taking your loan application.
This estimate is based on the loan amount, and RESPA requirements mandate that it has to contain all closing costs and be within a narrow range of accuracy. I'll go over the estimate and let you know if everything looks okay.
Then it's time to close on your house. This should happen at a title company or escrow office and will most often be a smooth and hassle-free affair.
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 contact me at 860-621-7130 or e-mail me at .