Purchasing a home in Plantsville with Perrella Realty, LLC.
Buying a home can be stressful for a lot of people. However, with a bit of planning ahead of time, it's not that hard.
I like to supply buyers with an overview of the whole deal so they know exactly what to expect.
Here are my nine steps to buying a home.
Should you have any questions regarding any of this information or if you're ready to get started, you can contact me here or e-mail me at .
Step 1 – Prepare to buy
There are many things you need to do before starting your home search.
When you start your search, you'll probably want to create an outline of items you need, get a plan of what school districts and neighborhoods you want to live in, and start planning around your budget.
A good guideline to follow is that your mortgage payment should be less than or close to a third of your net monthly income.
Step 2 – Contact a real estate agent
This is where Perrella Realty, LLC. comes in.
We'll plan a time to get together so we can talk about your real estate needs and get an idea of your future plans.
We'll talk about everything from neighborhoods, school districts in the Plantsville area, the mortgage and housing industries, to any other economic factors that might affect your purchase today or in the future.
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 can help you determine which type of loan is best for you, as well as help you get approved.
Step 3 – Begin looking
Following our first meeting, I'll start finding houses on the market that are a great fit for you.
I'll get a sneak peek of most of the homes and ignore the duds, and then we'll set up appointments to view the homes at a time that's convenient for you.
When we view the houses, I'll identify positive features and negative ones. I'll even ask you to talk about things you like and don't like.
For the most part, buyers amend their wish list as we tour homes and some features become more essential than others.
If such is the case, I'll search all the listings once again and trim it down to the house you've been wishing for.
Step 4 – Get a grasp of the housing market
My understanding of the Plantsville market is an imperative factor in your home search. I am familiar with all the schools and neighborhoods, and I can alert you to what neighborhoods are "hot" and warrant prompt action and some that are "cold" and allow for cautiousness.
As we tour homes, I'll be sure to tell you when the seller's asking price has room for negotiation and also when I know the home is "priced to sell."
Be mindful and make sure you ask your agent a lot of questions, as every REALTOR in Plantsville will tell you they understand 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 your questions. My market knowledge will help you stay a step ahead through the entire process.
Step 5 – Find the home you've been looking for
We'll find your dream house in the Plantsville area, and when that happens, I'll carefully create your real estate purchase offer. The offer will be tailored keeping your needs in mind and the home, including a lot of contingencies, such as acquiring financing, finishing the inspection, and a clear title.
When turning in your purchase offer, you'll likely want to submit "earnest money." This is a cash deposit submitted to a home seller to secure the offer to buy the property, and it's typically put towards the cost of closing. If your offer is accepted by the seller, we should close on the home about 30 to 60 days after. This allows enough time for your mortgage financing.
Step 6 – Negotiate the deal
Unfortunately most deals don't close on the first offer – it's extremely common to receive a counter offer. But don't let it discourage you. We'll figure out whether or not to take the counter offer, submit our own counter offer, or decline the seller's offer and go on.
How aggressively we negotiate the contract depends on the state of the market.
In addition, we'll work within your financing budget. And when it's all said and done, we'll assemble a contract that works well for you.
Step 7 – Get financing
After the deal is finalized, you'll begin working with your lender to close the loan.
It won't take very long at all if you're pre-qualified, but you need to stay in close contact with your lender.
And I'll handle all the property information your mortgage lender needs to close the loan.
Step 8 – Close the deal
Your mortgage lender will give you a Loan Estimate (LE) detailing closing costs within three days of accepting your application. You'll get a Loan Estimate (LE) outlining closing costs from your mortgage lender within three days of receiving your loan application.
The estimate depends on the loan amount. RESPA requirements dictate that it has to include all closing costs and be within a close range of accuracy, and I'll review the estimate and let you know if it all looks permissible.
Then it's time to close on your house. This will most often occur at a title company or escrow office and will most likely be a smooth and relaxed event.
Step 9 – Move in
Congratulations! It's time to move into your new house. Enjoy it. And if you need anything or have any questions, make sure you contact me at 860-621-7130 or e-mail me at .