Are you looking to buy a home in Plantsville? Perrella Realty, LLC. can help.
For a lot of people, purchasing a home is a stressful event. But with a bit of up-front planning, it isn't very complicated.
I like to furnish buyers with an outline of the entire deal so they understand exactly what they can expect.
Below are my nine steps to buying a home.
If you have questions regarding any of this information or if you're prepared to get started, simply contact me here or e-mail me at .
Step 1 – Prepare to buy a home
There are a lot of things you should do before you search for a home.
When you begin your search, you'll want to form a checklist of features you want to have, get a feel for what neighborhoods you'd like to live in, and start planning around your budget.
Ensuring your mortgage payment is around a third of your net monthly income is a good guideline to follow.
Step 2 – Contact a real estate agent in Plantsville
This is where I come in.
We'll plan a time to get together so we can talk about your real estate needs and get an idea of your plans for the future.
We'll discuss everything from neighborhoods, school districts in the Plantsville area, the mortgage and housing industries, to any other economic factors that could affect your buying decision today or in the future.
In addition, I'll help you begin the loan process.
There are some excellent mortgage professionals in Plantsville, and I partner with a lot of them, so you're in great hands.
They can help you choose 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 searching for available homes on the market that are good for you.
I'll research many of the homes and eliminate the duds, and then we'll schedule appointments to tour the homes when it's most convenient for you.
When we view houses, I'll point out good features and bad 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 wish list as we tour houses and some things become more important than others.
If such is the case, I'll search all the listings one more time and narrow it down to the house you've been wishing for.
Step 4 – Understand the housing market
An agent's knowledge of the Plantsville home market is an essential aspect in your house search. And I assure you I'm mindful of all the neighborhoods and school districts, and I'll alert you to some districts are "hot" and warrant immediate action and the ones that are "cold" and allow for thoughtful consideration.
As we view houses, I'll be sure to tell you if the seller's list price has room for negotiation or if I believe the house is "priced to sell."
When working with an agent, be careful and make sure you ask plenty of questions, as every real estate agent will convince you they truly understand the housing market.
If things don't add up, contact me at 860-621-7130 or e-mail me at , and I'll be more than happy to answer any questions you might have. My understanding of the market will help you stay a step above the rest throughout the entire deal.
Step 5 – Find the house you've been waiting for
I'm positive we'll find the house of your dreams in Plantsville. When we do, I'll carefully develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including several contingencies. A few examples are acquiring financing, finishing the home inspection, and a clean title.
When submitting your offer, you'll need to submit "earnest money." This is a cash deposit made to a seller to secure the offer to purchase the property. The amount is usually put towards the cost of closing. If the offer is accepted by the seller, we should close on the property within 30 to 60 days after. This allows plenty of time for your mortgage financing.
Step 6 – Negotiate the deal
A lot of deals aren't closed on the first offer. It's extremely common to receive a counter offer. But don't let this alarm you. We'll talk about whether or not to accept the counter offer, present our own counter offer, or reject the seller's offer and move on.
The state of the market will play a part in how aggressively we negotiate the deal.
We'll also work within your financing constraints. And when it's all said and done, we'll assemble a deal that's best for you.
Step 7 – Obtain a loan
Once the deal is finished, you'll begin working with your lender to close the loan.
It won't take much time at all if you've been pre-approved, but you should to keep in close contact with your lender.
And I'll take care of all the property information your lender needs to close the loan.
Step 8 – Close the deal
You'll get a Loan Estimate (LE) of closing costs from your mortgage lender within three days of taking your application.
The estimate is based on the loan amount. RESPA requirements require that it has to contain all closing costs and fall within a precise range of accuracy, and I'll analyze the estimate and let you know if everything looks good.
Then it's time to close on your house. This will probably occur at a title company or escrow office and will probably be a smooth and hassle-free occasion.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, make sure you contact me at 860-621-7130 or e-mail me at .