Buying a new home in Plantsville
Buying a home can be stressful for most people, but with a bit of planning ahead of time, it isn't all that complex.
I like to supply buyers with an outline of the whole deal so they know exactly what to expect.
Below are my nine steps to purchasing a home.
Should you have any 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 – Get ready to purchase
Before you begin your home search, there are plenty of things you should contemplate.
When you start your search, you'll want to put together an index of features you need, get a feeling for what neighborhoods and school districts you'd like to live in, and start working on your budget.
Ensuring your mortgage payment is around a third of your monthly income is a good rule of thumb to go by.
Step 2 – Communicate with a real estate agent in Plantsville
This is where I can help.
We can set up a time to get together so we can talk about why you want to buy a home and get an idea of your upcoming plans.
We'll talk about everything from neighborhoods, schools in the Plantsville area, the mortgage industry, to any other economic factors that might affect your purchase today or in the future.
I'll also assist you in getting started on your loan.
Perrella Realty, LLC. partners with some of the finest mortgage professionals in Plantsville, so you'll be in great hands.
They will assist you with deciding which type of loan is best for you and help you get qualified.
Step 3 – Start looking for a house
After our initial meeting, I'll begin searching for homes on the market that suit your needs.
I'll get a sneak peek of many of the houses and ignore the bad ones, and then we'll schedule appointments to view the homes when it's most convenient for you.
As we view homes, I'll identify good features and 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 tour homes and some things become more substantial than others.
If such is the case, I'll look through the listings again and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
Your agent's understanding of the Plantsville housing market is a necessary factor in your home search. And I can assure you I'm informed of all the schools and neighborhoods, and I will let you know which areas are "hot" and require prompt action and others that are "cold" and allow for careful analysis.
When we view homes, I'll let you know if the asking price has room for negotiation or if I believe the home is "priced to sell."
When working with an agent, be mindful and be sure to ask lots of questions. Every real estate agent in Plantsville will claim to truly know the market.
If things don't add up, contact me at 860-621-7130 or e-mail me at , and I'll be glad to answer any questions you might have. My market knowledge will help you stay a step above the rest throughout the entire process.
Step 5 – Find the house you've been looking for
I'm sure we'll find the home of your dreams in Plantsville. When that happens, I'll thoroughly develop your home purchase offer. The offer will be tailored with your needs in mind and the home, including a lot of contingencies, such as acquiring financing, carrying out the inspection, and a clear title.
Upon sending in your offer, you'll want to submit "earnest money." This is a cash deposit made to the home seller to secure the offer to buy the property, and it's often applied to the cost of closing. If the offer is accepted, we should close on the property about 30 to 60 days afterward. This allows necessary time for your mortgage financing.
Step 6 – Negotiate
Most contracts don't close on the first offer. It's widely common to receive a counter offer. But don't let it intimidate you. We'll figure out whether or not to agree to the counter offer, propose our own counter offer, or refuse the seller's offer and move on.
The state of the market determines how aggressively we negotiate the contract.
We'll also work within your financing limits. And at the end of the day, we'll assemble a contract that works well for you.
Step 7 – Obtain financing
Once the deal is finished, you'll begin working with your lender to close the loan.
This won't be a long process at all if you're pre-approved, but you'll want to keep in close contact with your mortgage lender.
And I'll look after all the property information your lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will supply you with a Loan Estimate (LE) detailing your closing costs within three days of taking your loan application. You'll get a Loan Estimate (LE) outlining your closing costs from your mortgage lender within three days of accepting your loan application.
The estimate rests on the loan amount. RESPA requirements order that it has to include all closing costs and be 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 is often a smooth and relaxing occurrence.
Step 9 – Move in
Congratulations! Now you can move into your new house. Enjoy it. And if you need anything, be sure to contact me at 860-621-7130 or e-mail me at .